Live: Thursday, March 1, 2018

3/1 – 3:10 p.m. New York time

I entered no positions today and exited none.

I studied TLT as a potential play but have decided to wait because of ambiguities in the Elliott wave count. The chart is in a 3rd wave down at the level I trade, and I am unable to tell whether that wave is complete. The wave has been underway since mid-January, so it seems most sensible to wait for the 4th wave correction to run its course and then enter on the 5th wave down.

I also look at earnings plays. We are between earnings seasons, of course, so there aren’t many candidates. I have picked out a handful of possibilities that I shall look at on Friday with the goal of identifying some prospects.

3/1 – 10:25 a.m. New York time

My holdings at the opening bell continued their downward course. They are FXE, which tracks, the EUR/USD exchange, GLD for gold bullion and IWM for the Russell 2000 index.

I see no likelihood that I shall exit any position today. What prospects are there for new positions?

For ETFs, one possibility would be TLT, which tracks the 20-year-plus Treasury bonds.

With the equities markets at the degree I trade once again aligned with the downtrend of higher degree, another possibility would be to resume plays tied to the run-up to an earnings announcement, although only those that have negative expectations and therefore will work for a bear position.

Shares trades remain out of the picture, since they are bull plays, contrary to the trend of higher degree.

By Tim Bovee, Portland, Oregon, March 1, 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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