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Steve's Trading Diary - July 2007


7/30 Bought MVIS. It opened higher, traded down, but came right back up. It would've been bought near the close as it was coming up near the top end of the trading range. Be ready to buy this aggressively on any positive trading on Tuesday. 7/31 It's back at a support level, continue to hold. 8/1 It came right back down to the support level and is getting toward the oversold area.  It needs to show a positive trading day on Thursday to continue to hold. A lower close on Thursday would warrant closing out the position. 8/2 It lost its strength and is still sitting on the support level. You probably should have closed it out on Thursday. However, if you're still holding it, see if it supports at this level with the stochastics in the oversold area. If it closes lower on Friday, close out the position.8/3 Closed.

7/27 Bought WNR on the positive trading on the open on Friday, but when it backed off and closed below the previous day's close, it was closed back out. Keep an eye on it. It's trying to bottom but it hasn't bottomed yet.

7/27 EICU was not bought. It was obviously not a buy. It needed to open higher. With it gapping down you can leave this one alone.

7/23 Shorted ANET on the weakness on Monday after the Kicker type signal with it trading down below the 50 day moving average. Continue to stay short. We don't want to see it close above Monday's open of $17.93. 7/24 It still closed lower, continue to stay short. Use the 200 day moving average as your first target. 7/25 It's still heading for our projected target at the 200 day moving average. Continue to stay short. Use any trading above Wednesday's high of $17.26 as your stop. 7/26 It acted too strong and formed a Bullish Harami with stochastics in the oversold area. Be ready to close this out if it comes back up through the $17 area. It needs to continue to trade down to stay short in this position. 7/27 It was closed out in Friday on the positive trading. It acted fairly strong in this market so you want to keep an eye on this one now as a buy. Be ready to buy this one on strength if you want to go long in this position.

7/24 Shorted ALVR as it opened lower. Even though it came up higher on the day, it didn't do anything to reverse the downtrend. Continue to stay short. 7/25 It popped back up. It might still be in an uptrend. This one should definitely be closed out if it comes up through Wednesday's high of $10.89. It needs to open lower and continue down to stay short. Close out this short position on any signs of strength. 7/26 It was reiterated as a short. Be ready to short this again on anything below the 20 day moving average. 7/27 This could have been re-shorted. Even though it opened lower and came up a little bit, it's still in a downtrend. Continue to hold the short position. 7/30 it should have been closed out on the close above the 20 day moving average. The Bullish Engulfing signal told us that the Bulls are stepping in. This one should have been covered.

7/31 BPHX was not bought on Tuesday at as it opened much lower. The company had some decent earnings but apparently it was not what the market was looking for.

7/30 Bought HOKU. It opened higher and immediately started trading off. It probably would've been bought because the the morning futures were trading higher. It didn't close quite to the halfway point of Friday's bullish candle. That indicates that you should continue to hold, but if it closes lower on Tuesday, you close out the position because that would be below the halfway point of of the previous candle and it would show that the 50 day moving average was acting as resistance. 7/31<

 

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