Live: Monday, Feb. 5, 2018

2/5 – 3:20 p.m. New York time

Two outcomes today: I entered an options position on MGM and exited one on UAA.

2/5 – 2 p.m. New York time

I have entered a bear call vertical options spread on MGM.

2/5 – 1:15 p.m. New York time

I’m giving up for the day on my shares prospects. The 3-hour bar chart, which has more granularity than the daily, shows ALKS, CSLT and TIVO as downtrending on the Fisher Transform metric. The Fisher lines on SPAR look close to crossing into downtrending territory. And the candlesticks, without any technical analysis, show no visible uptrend on any of the symbols (a strong uptrend being defined as three higher highs and three higher lows in a row).

Turning to the directional options, I’m removing P and RIG from my desk without a full analysis. They are low-priced shares, and that makes their options grids lose a degree of granularity.

MGM remains a prospect, downward trending at several levels, from 3-hour bars up to weekly bars. I continue in my intention to do a full analysis today.

2/5 – 10:10 a.m. New York time

Given the continuing downtrend in the broad markets, I have focused my options agenda on bear plays. I hav two prospective options trades on my agenda: MGM and RIG. One symbol, P, is off the list solely because its metrics are bullish, and I judge it to not be a bullish season. I shall analyze MGM and RIG later today.

Shares are problematic, because by definition they are bull plays, except for the most liquid. Four symbols meet my standards for trading: ALKS, CSLT, SPAR and TIVO. However, their uptrends all appear to be weakening, and I shall be cautious about entering any of them.

2/5 – 9:35 a.m. New York time

I have exited UAA for a profit and shall update the the analysis with results later this morning. Also upcoming: Potential trades on today’s agenda.

By Tim Bovee, Portland, Oregon, Feb. 5, 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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