All are faltering on the level of implied volatility. My guidelines require that volatility be in the 60th percentile or higher of its most recent range.
FB is within six percentile of the goal. I shall keep an eye on the symbol's IV during the day and if it does hit 60, I'll do an analysis.
The others are so far away that I'm rejecting them now without a full analysis. Here are the 13 prospects and their current implied volatility percentiles.
-- Tim Bovee, Portland, Oregon, April 27, 2016
by Lawrence G. McMillan
Tradecraft: Playing the odds to build winning stock market trades from options, a description of how I trade, can be read here.
Elliott wave analysis tracks patterns in price movements. StockCharts has a good explainer. The principal practioner of Elliott wave analysis is Robert Prechter at Elliott Wave International. His book, Elliott Wave Principle, is a must-read for people interested in this form of analysis, as is his most recent publication, Visual Guide to Elliott Wave Trading.
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