Steve's Trading Diary - April 2007
4/26 Bought TOMO right before the close as it was coming up after consolidation. This is the type that should pop to the upside. We don't want to see it close more than halfway down Wednesday's large bullish candle at approximately the $14.80 area. 4/27 It opened lower and came right back up to the top of the trading area. Continue to hold. We'd like to see a breakout through the recent high area, which would move it into much higher territory. We don't want to see it close below the T-line. 4/30 It's still holding up well. It's opening lower and coming up. That tells us that the Bulls are still in control. Be ready to buy this on a breakout to the upside. Use a close below $14.80 as your stop. 5/1 This was reiterated as a buy suggestion. If it gaps up or trades higher on Wednesday, start buying it immediately. 5/2 It was not bought again on the reiteration, it traded flat. This is still a very good pattern setting up. If it breaks out to the upside, start buying it immediately. 5/3 It's still showing strength. It keeps opening lower and moving higher each day. It should break out to the upside very soon. 5/4 It's still doing nice bottoming action. If it breaks out through the $15.20 area, buy it aggressively. That would start the next pop to the upside. 5/7 It's still trying to break out. Be ready to buy it if you see it gap up on the open. 5/8 It's still trying to break out through the recent high levels. It closed at a recent high. Be ready to buy this aggressively on any signs of strength on Wednesday. 5/9 It was disappointing on Wednesday. Use a close below the T-line as your stop. If this opens lower and starts trading down, you might want to close it out immediately. This needs to open higher and trade higher to continue to hold. 5/10 We're still seeing a lot of buying at this level even though it's not moving up significantly. Every time it opens lower, the Bulls step right back in. This one can still be bought aggressively if it comes up through the $15.20 area. It should not close below the T-line. Use a close below Thursday's low of $15.02 as your stop. 5/11 It's still hanging in there at this level. Watch to see if it will break out to the upside. Continue to hold. 5/14 Still be ready for a breakout to the upside. Buy it aggressively on any trading above $15.20. 5/16 It's still not doing anything. It needs to have a positive day and it needs to continue to trade above the 20 day moving average to continue to hold. If it closes below the 20 day moving average at around the $14.90 area, close out the position. 5/17 It closed at $14.93. It's getting very close to being stopped out. It needs to see strength on Friday. If it closes below the $14.90 level, close out the position. 5/18 It's getting a little bit weak but it's still holding up. If you came out of the position on weakness the other day, be ready to buy it again, especially if it moves up above the high of Friday at the $15.02 level and the T-line. 5/21 You should probably be out of it by now as it closed below the $15.02 level on Friday. Keep an eye on it and be ready to buy it again if it comes up through the $15.10 area.
4/30 Bought CLS on the positive open. It fluctuated on Monday but is still trading positive. Continue to hold and use a close below $6.65, near the halfway point of Friday's bullish candle and the T-line, as your stop. 5/1 It tested the T-line and traded higher. This one can still be bought as it is breaking out through recent high levels. 5/2 It continued higher ever since the Belt Hold signal formed. It's now into the area of the previous gap. Look for it to fill the gap as a first test with the second test being the 200 day moving average. 5/3 It pulled back but didn't do anything to change the uptrend, continue to hold. Use a close below $6.85, which would be at the T-line and halfway down Wednesday's bullish