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Steve's Trading Diary - May 2005

3/24 Bought IIG on the strength. It consolidated but it isn't anything yet to change the fact that it has broken out to new highs, continue to hold. 3/27 it formed an Evening Star-type signal. This one needs to trade flat or trade higher on Tuesday to stay in the position. If it closes below the white candle of two days ago, close out the position. 3/28 it consolidated, forming a Hammer. Be ready to buy this on strength. If it opens lower and trades down, close out the position immediately. 3/29 it traded higher, continue to hold. 3/30 it's still in an uptrend, continue to hold. It might be getting a little bit toppy but the uptrend is still in place. 3/31 it formed a Bearish Engulfing signal. It needs to do a Doji-type day and stay very close to or above the $11 range to continue to hold. If there is any strong selling from this point, close out the position. 4/3 it moved up in a steady uptrend, continue to hold. Use a close below $11 as your stop. 4/4 it's moving higher, continue to hold. 4/5 it's still in a slow uptrend, continue to hold. Now use a close below $11.50 as your stop. 4/6 it's getting a little bit toppy but hasn't breached the uptrend, continue to hold. Use a close below the $11.50 level as your stop. 4/7 it's still in a slow uptrend, continue to hold. 4/10 it's still in a nice uptrend, continue to hold. 4/11 it formed a Spinning Top. Now use any trading below $12 as your stop. 4/12 it's still in an uptrend. It's getting a little bit toppy but hasn't shown a sell signal, continue to hold. 4/13 it's still in a steady uptrend, continue to hold. Use a close below $12 a share as your stop. 4/17 it's still in a slow uptrend, continue to hold. 4/18 it got hit hard on Tuesday. This one should have been stopped out on the close below $12.

5/16 Bought FFIV as it opened higher on Monday after the Kicker signal. Continue to hold. This one should have at least a few more days to the upside. 5/17 continue to hold. It traded higher on Tuesday. The first target is $48.80. 5/18 it had a very strong up-day. Continue to hold. Use a close below $48.20 as your stop. 5/19 it might be getting a little bit toppy. Use any trading below Thursday's low as your stop. 5/20 continue to hold. Now use any trading below $48.90 as your stop. 5/23 it consolidated but didn't back off. Continue to hold. Use any trading below $48.10 as your stop. 5/24 it's still in an uptrend. Now use any trading below Tuesday's low of $49.00 as your stop. 5/25 continue to hold. Use any trading below Wednesday's open at $50.00 as your stop. 5/26 it formed a Bearish Harami/Spinning Top. Be ready to close this out on a weaker open, especially if there is any trading below Thursday's low of $49.76. 5/27 it opened lower but immediately traded higher. Continue to hold and anticipate more upside movement. 5/31 it formed a Bearish Harami after a Bearish Harami occurred two days ago. Be ready to close this one out on any trading below $50.00 a share. 6/1 it's getting a little bit toppy. It formed a Shooting Star/Doji on Wednesday. Be ready to close this one out on a weaker open. 6/2 it's getting toppy but it formed a Hammer signal on Thursday. If you closed this one out, you're OK. If you're still long, close it out immediately on a weaker open. 6/3 it's still trading relatively flat, continue to hold. Use any trading below $50.00 a share as your stop. 6/6 it's still consolidating and not trading down. Use a close below $50.00 as your stop. 6/7 it has a nice bullish day, continue to hold. Now use any trading below $50.45 as your stop. 6/8 be ready to close and take profits on any weakness. 6/10 continue to hold. 6/13 close this on a weak open on Tuesday. 6/14 it should have been closed out on the weak open on Tuesday.

5/17 BE was not bought. It opened lower. Be a buyer if it comes back up through the $6.00 area. 5/18 it traded higher. If you bought it, continue to hold. This one should be breaking out to the upside. It can be bought on strength on Thursday. 5/19 it should have been bought on the strength on Thursday. Continue to buy this stock. 5/20 if you bought it, continue to hold. This stock should fill the gap somewhere around the $7.70 range. 5/23 it consolidated but didn't show anything as a sell signal. Take profits if this trades below $6.30. If it opens higher, be ready to buy it aggressively. 5/24 it opened lower but immediately started moving higher. You can still be a buyer of this stock. 5/25 continue to hold. We're still in the low resistance level. Use any trading below $6.25 as your stop. 5/26 continue to stay long. Use any trading below $6.48 as your stop. 5/27 continue to hold. 5/31 it's getting a little bit toppy. Be ready to close this out on a close below the $6.50 level. 6/1 it's still trading flat. Be ready to close this one out if it trades down below $6.29. Continue to hold. 6/2 it's trading flat. Use any close below the $6.29 area as your stop. 6/3 it's still trading flat, continue to hold. Use a close below $6.29 as your stop. 6/6 it's still trading slightly positive. It looks like it is forming a J Hook pattern. Continue to hold but use any close below $6.48 as your stop. 6/7 it still moved up. It has now just touched the 50 day moving average. Still use any trading below the $6.50 level as your stop. 6/8 it formed a Doji right at the 50 day moving average. Use any trading below $6.60 as your stop. 6/10 continue to hold. 6/13 continue to hold. Use any trading below $7.00 as your stop. 6/14 it's getting a little bit toppy. Be ready to close this if it trades anywhere below $7.05. 6/15 it's getting toppy. Be ready to close this one out on any weakness on Thursday. Use $7.10 as your stop. 6/16 it consolidated but isn't showing weakness. It opened lower and immediately started moving up. If you closed out the position, be ready to buy this one on strength again. 6/17 it's still in a slight uptrend. Continue to hold. Use any trading below $7.00 as your stop. 6/20 it traded higher on Monday. Continue to hold. Now use any trading below Monday's low of $7.20 as your stop. 6/21 it's still in an uptrend. Use any close below $7.20 as your stop. 6/22 it had a nice little bullish up-day. Continue to hold. Use any trading below $7.32 as your stop. 6/23 it formed an Evening Star signal. Be ready to close this one out on a weak open on Friday. 6/24 it should have been closed out on the weak open on Friday.

 

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