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Steve's Trading Diary - July 2005

7/27 CETV. If you bought it with a stop on the positive open, continue to hold. If you saw that it opened and immediately started backing off, don't buy it until it comes back up through Wednesday's high of $48.78. 7/28 it consolidated nicely. We would definitely be buying on strength, at anything above $48.78 on Friday. 7/29 it's kind of consolidating. This one needs to show strength on Monday to continue to hold. 8/1 it's still moving in an upward direction, continue to hold. 8/2 it's still trying to move in an upward direction. Use a close below $48.00 as your stop. 8/3 it's flattening out but the stochastics are trying to curl back up. Hold it for a couple of more days. Use a close below $48.00 as your stop. 8/4 continue to hold. Still use $48.00 as your stop. 8/5 it held up, continue to hold. 8/8 continue to hold. Now use a close below the $49.00 level as your stop. 8/9 continue to hold. Use a close below $49.40 as your stop. 8/10 it's moving up nicely, continue to hold. 8/11 it's still trying to move in an upward direction, continue to hold. Give it a few more days. 8/12 it's still in a slow uptrend, continue to hold. 8/15 it's getting a little bit toppy. Be ready to close this one out on a weaker open on Tuesday. 8/16 it opened slightly weaker and immediately moved up. Continue to hold and use any trading below Tuesday's low of $50.29 as your stop. 8/17 it's trying to break through to new highs, continue to hold. Use any trading below $50.29 as your stop. 8/18 it's getting toppy. Be ready to close this one out on any trading below $50.20. 8/19 it's still trying to move in an upward direction. Continue to hold. Use a close below the $50.20 level as your stop. 8/22 it broke out nicely on Monday, continue to hold. It's still in an uptrend. 8/23 it's still moving higher, continue to hold. 8/24 it's still in a nice uptrend, continue to hold. 8/25 it did some consolidation on Thursday. Now use any trading below $52.56 as your stop. 8/26 it's still in an uptrend. Still use a close below $52.56 as your stop. 8/29 it's still moving up, continue to hold. 8/30 it's still moving up steadily, continue to hold. 8/31 it formed a Dark Cloud signal on Wednesday. If it opens lower, close out the position. 9/1 this one would have been closed out on the weakness after Wednesday's Dark Cloud signal.

7/26 Bought GPN. It opened lower but moved up through Monday's high. Continue to buy. This one should break through the $70.00 area and go higher. Consider buying the August 65 calls and maybe selling the August 75's against the August 65's. 7/27 it consolidated but the upward direction didn't change. Continue to hold. Use a close below $65.30 as your stop. 7/28 it moved up nicely on Thursday, continue to hold. We're still looking for the first target to be the $70.00 area. Still use $65.30 as your stop. 7/29 it's still trying to move in an upward direction after the gap-up of four days ago. The stochastics are starting to roll over. Use a close below the $65.20 level as your stop. 8/1 it formed another Doji on Monday. This one needs to see strength to continue to hold. Use a close below the $65.20 level as your stop. 8/2 it moved up. Now use a close below $66.00 as your stop. 8/3 it's slowly moving up, continue to hold. We're expecting this one to break out to the upside fairly soon. 8/4 it continues to move up. It closed above the 50 day moving average. It did break out. Now use Thursday's low of $66.53 as your stop. 8/5 it started to show some selling as it hit the 50 day moving average. Close this one out on weakness on Monday but be prepared to buy on the next buy signal. 8/8 be ready to take profits immediately on a weaker open on Tuesday. It looks like it has failed the 50 day moving average. If you didn't close it out, be ready to close it on weakness. 8/9 it's still holding up well. If you still own it, continue to hold. Use a close below $66.40 as your stop. 8/10 it's getting a little bit toppy up here at the 200 day moving average. Use the $66.40 level as your stop. 8/11 it traded nicely on Thursday above the 50 day moving average, continue to hold. 8/12 it's getting a little bit toppy. Use a close below $67.30 as your stop. 8/15 it should have been closed out on the lower trading on Monday. It closed below the stop.

 

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