Live: Monday, March 19, 2018

3/19 – 3:15 p.m. New York time

I entered no new positions and exited one, MLNX.

3/19 – 2:45 p.m. New York time

I screened 17 potential shares plays. All failed the chart test — their in a bear phase according to the Elliott wave count — except for EL and RE, and both of them look likely to be nearing the end of their run. So in the end, I rejected them all.

3/19 – 2;15 p.m. New York time

Of the 11 potential options plays I identified earlier today, only two symbols have implied volatility profiles that pique my interest: EXAS and LL.

I’ve tossed EXAS because of an overly wide bid/ask spread. I am also rejecting LL without further analysis. The Elliott wave count is either in the midst of a continuing 4th wave up or at the beginning of a 5th wave down. The chart pattern is ambiguous, and so I will wait for clarity before going any further with this symbol.

3/19 – 11:50 a.m. New York time

As the markets turn down again, the number of symbols qualifying for bear trades increases. There are 11 symbols that made it past the initial screen for negative earnings expectations and a downward trend: COG, EXAS, HAL, HAS, LL, LNG, NOV, OLN, PSX, VLO and WHR.

I shall narrow the list further to find one for analysis. I don’t anticipate entering any new options positions today, as my account is full.

I shall also pick a bullish shares play.  I have exited my shares position on MLNX for a small loss.

By Tim Bovee, Portland, Oregon, March 19, 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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