Live: Thursday, Jan. 4, 2018

1/4 – 3:25 p.m. New York time

The Fisher transform, discussed below, on SONC continues to be bearish, although the price itself isn’t yet showing an obvious decline. If the Zacks earnings surprise predictor were outsized, then I might consider it despite the Fisher reading, but it’s 1.85, which is fairly moderate. I’m passing on SONC as an earnings play using shares.

The outcome for today, then, is that I exited RPM and WBA.

1/4 – 12:35 p.m. New York time

I have one potential new position on my agenda today, SONC, and it’s looking weak by one metric. I shall keep an eye on it and make a decision in the final hour of trading.

I have exited my shares positions in RPM and WBA, the first for a profit and the second for a loss.

The metric causing doubts about SONC is a one that is new to my analysis, the Fisher Transform by John F. Ehlers, whose company is Mesa Software, with a number of technical papers by Ehlers for those who want to jump into the details.

In working with it over the last few days, I have the sense that it is quicker to respond than my other trend and reversal indicators, but I’ll need to use it more before reaching a final conclusion.

1/3 – 8:40 p.m. New York time

I have one prospect for Thursday, an earnings play on SONC using shares.

I’m keeping an eye on FC, GBX and STZ to see if they improve sufficiently to be added to the prospects list. They aren’t there yet.

By Tim Bovee, Portland, Oregon, Jan. 3-4, 2018


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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