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Steve's Trading Diary - June 2005

6/23 Shorted KWK. Although it held up well, we would have shorted it as it came back down through Wednesday's close. Continue to stay short. Use a close above Thursday's open of $61.25 as your stop. 6/24 it came back up through the stop. It should have been closed out at $61.25.

6/22 Bought IM on the positive open. It traded higher, right up to the 50 day moving average. Continue to hold. We're looking for more strength. 6/23 it formed a little Shooting Star. It held up above the 50 day moving average. Use any trading below $15.70 as your stop. 6/24 it came back down through the stop. It should have been stopped out at the $15.70 level. This one is closed out.

6/21 Bought APPX. It opened higher and moved up steadily. It closed above the 20 day moving average. Continue to hold. This one should have a target of somewhere between $45.00 and $46.00. 6/22 it consolidated but is still in an uptrend. It closed at the high end of the trading range, right above the 20 day moving average. Continue to hold. 6/23 be ready to close this one on any trading below Thursday's low of $41.43. 6/24 this one should have been closed out at $41.43.

6/13 Bought RHAT as it showed strength near the end of the day. Continue to hold. 6/14 it moved up nicely to the $13.00 area. Continue to hold. Use any trading below $12.70 as your stop. 6/15 it consolidated, coming back down to just touch the 50 day moving average, and closed at the higher end of the trading range. Continue to hold. 6/16 it consolidated but it's nothing to change the uptrend. Still look for a strong move to the upside. Use any close below $12.60 as your stop. 6/17 it's still trading above the 20 day moving average. Be ready to buy this one on strength again. 6/20 this one closed right on the 20 day moving average as a Doji. Be prepared to buy this one on strength. Use Monday's low of $12.58 as your stop. 6/21 it formed a Bullish Engulfing signal off of the 20 day moving average after a Doji. Be ready to buy this one on strength. 6/22 it bounced off of the 20 day moving average with a Doji and Bullish Engulfing signal. Continue to hold this one. 6/23 it consolidated and stayed above the 20 day moving average. Continue to hold but use a close below $12.60 as your stop. 6/24 this one should have been closed out on the close below $12.60.

6/3 Bought FD on the open but we would have sold it on the close. It backed off and formed a sell signal immediately. 6/6 it formed a little bullish candle on Monday. Be ready to buy it on strength. 6/7 it can be bought on strength if you haven't bought it already. 6/8 be ready to close this on any trading below $68.00. 6/10 continue to stay long. 6/13 hold. Close on any trading below $70.00 a share. 6/14 continue to hold. It's still moving higher. Use any trading below $73.00 as your stop. 6/15 it formed a Bearish Harami. Close this immediately on a weaker open. 6/16 it consolidated. It formed a Gravestone Doji. Be ready to close it out on weakness. Be ready to hold it on strength. 6/17 it hasn't pulled back. Use any trading below $72.00 as your stop. 6/20 it's still trading above the $72.00 area. Continue to use that as your stop. 6/21 it consolidated. It still hasn't closed below the $72.00 range. Continue to use a close below $72.00 as your stop. 6/22 it still stayed above our stop. Continue to hold. It might be starting its next uptrend. 6/23 be ready to take profits on Friday on any weak open. 6/24 this one opened weaker on Friday. You should have taken profits on the weak open.

6/24 SEAC was not bought. It showed weakness but came back up and closed at the higher end of the trading range. Be ready to buy this on any strength on Monday. 6/27 it backed off. It still wasn't bought. Stay away from this for now.

6/24 WLDA was not shorted. It didn't show any weakness. Do not short this until it comes back down through the $10.90 area. This one needs to show weakness before we start shorting it. 6/27 stay away from this for now.

 

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