Live: Tuesday, October 24, 2017

10/24 – 3:25 p.m. New York time

I entered an earnings play on T, exited GM for a profit and profitably rolled TLT forward to a new position in the series. I analyzed NSC but declined the trade.

10/24 – 2;50 p.m. New York time

T Analysis posted.

10/24 – 2:30 p.m. New York time

NSC Analysis posted.

10/24 – 10 a.m. New York time

I have exited GM and TLT, each for a profit. I shall roll TLT forward as part of a series based on Elliott wave analysis.

I have concluded that SPY has finished its rise, and I shall wrap up the series with a calculation of results. I was out of the symbol awaiting clarity from the Elliott wave count.

I shall next explore entering a bear position on SPY.

I have two prospects for full analysis today: NSC and T.

Among the other possibilities I listed last night,  prospects for today, TXN’s bid/ask spread widened to an unacceptable degree, WBA continues to have a very high bid/ask spread, and AKAM continues to show the ambiguities I noted in last nights post. All have been eliminated from further analysis.

10/23 – 7:50 p.m. New York time

I have five prospects that have survived initial screening: AKAM, NSC, T, TXN and WBA.

Only two, NSC and TXN, are sufficiently free of blemishes to warrant a trade. Of the others:

  • Two have bid/ask spreads that are two wide to meet my standards: T and WBA. T also has strikes that are further than I like from the at-the-money mark.
  • AKAM has a strong bear rating from Zacks, and yet is going into earnings with expectations of high network traffic, and therefore revenues. Given the contradiction, I don’t know how to play it, and may just drop it.

I shall do a final check of all five after the opening bell.

By Tim Bovee, Portland, Oregon, October 23-24, 2017


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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