Tuesday, May 24, 2016

Tuesday's Agenda

The lone prospect on my desk today, INTU, was somewhat below the my minimum standard for implied volatility before the day began. After the opening bell if fell further below that level, eliminating it as a candidate for full analysis and perhaps a trade.

I measure implied volatility as a percentile of its most recent range. INTU was at the 42nd percentile last night and has fallen this morning to the 35th. My minimum requirement is the 60th.

It appears extremely unlikely that INTU's will reverse course sufficiently for a full analysis. I intend to open no new positions today.

-- Tim Bovee, Portland, Oregon, May 24, 2016

Makers and Takers: The Rise of Finance and the Fall of American Business
by Rana Foroohar


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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Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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Based on a work at www.timbovee.com.

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