Live: Thursday, March 22, 2018

3/22 – 3:25 p.m. New York time

I exited one position today, EL, and entered none.

3/22 – 1:45 p.m. New York time

My screen for potential option plays has turned u nothing that meets my standards. SQ, EXAS and LL came closest, but didn’t make it across the line. SQ’s chart isn’t yet clearly in a downtrend, although it may have the beginnings. EXAS and LL, now as in past times, have overly wide bid/ask speads.

3/22 – 12:10 p.m. New York time

I have exited my shares position on EL for a loss after the Fisher Transform gave a downtrend signal on the daily chart.

Among my other holdings, FXE and GLD have each flipped to uptrend on the Fisher Transform.

However, the Elliott wave count doesn’t confirm a change in the underlying bear trend at the level of granularity I trade.

The EUR/USD, which underlies FXE, has been tracing out a triangle since Feb. 15 and in fact reversed downward on the chart in today’s trading.

GLD by my Elliott wave count is channelling a 5th wave down within a 3rd wave down. A break beyond the channel, drawn at the top from the March 7 high, would suggest that it was time to exit. But that time isn’t here yet.

By Tim Bovee, Portland, Oregon, March 22, 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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