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Steve's Trading Diary - August 2005

8/22 Bought FDRY on the positive open. This is exactly what we wanted to see, it gapped up. Continue to hold. We're anticipating that it will break out to new highs, probably up into the $14.00 to $15.00 range. 8/23 it closed lower but is still in an uptrend, continue to hold. Use a close below $11.25 as your stop. 8/24 it consolidated. It hasn't breached the uptrend. Still use a close below $11.25 as your stop. 8/25 it's starting to come back up, continue to hold. Use a close below $11.25 as your stop. 8/26 it still hasn't backed down through the gap area. Continue to use $11.25 as your stop. 8/29 it's still consolidating, continue to hold. Use the $11.25 range as your stop. 8/30 it's still holding up after the gap-up, continue to hold. Still use $11.25 as your stop. 8/31 it's starting back up, continue to hold. 9/1 it's still moving up, continue to hold. 9/6 continue to hold. 9/7 it's curling back up near the highs. Be ready to buy on a breakout. 9/8 it's still moving up nicely, continue to hold. 9/9 it moved up into new high territory, continue to hold. 9/12 it may be getting a little bit toppy. Use a close below $12.25 as your stop. 9/13 it's getting a little bit toppy. Now use any trading below $12.29 as your stop. 9/14 it formed a Shooting Star. Be ready to close this one out on a weak open on Thursday. 9/15 it's getting toppy. Use a lower open on Friday to close out if you didn't close it out Thursday afternoon. 9/16 it's getting toppy. This one should have been closed out as it closed weaker on Friday.

8/24 Bought ZRAN as it came up through Tuesday's close. It backed off but still traded above where it opened on Wednesday. Continue to hold. Use any trading below $14.31 as your stop. 8/25 it continued the uptrend, continue to hold. 8/26 it formed a little Doji right at the recent high. Be ready to close this one out on a lower open but be prepared to buy it right back on strength in the next couple of days. 8/29 it consolidated. It's having a little bit of trouble coming up through the recent high. If it closes below $15.00, close out the position. 8/30 it's still in an uptrend, continue to hold. 8/31 it moved higher, continue to hold. 9/1 it formed a Bearish Engulfing signal on Thursday in the overbought area. Now use any trading below Thursday's low of $15.42 as your stop. 9/6 it's still in an uptrend, continue to hold. 9/7 it consolidated. Now use any trading below $15.25 as your stop. 9/8 it moved up nicely on Thursday, continue to hold. 9/9 it's still in a nice uptrend, continue to hold. 9/12 it's still in a nice uptrend, continue to hold. 9/13 it still moved up higher. Now use Tuesday's open of $16.50 as your stop. 9/14 it formed a Bearish Harami. Be ready to close this one out on weaker trading on Thursday. Use any trading below $16.76 as your stop. 9/15 this one may be getting toppy. Use any trading below $16.50 as your stop. 9/16 it consolidated. This one did trade below the $16.50 level. You should have taken profits on Friday but be prepared to buy it back on any bullish candle from here. This may have been consolidation in an uptrend. 9/19 stay away from this for now.

8/31 Bought ATYT as it came back up through Tuesday's close. Continue to hold. If it breaks through the $12.25 area, the 50 day moving average, anticipate that it will eventually go to $15.00. 9/1 it moved a little bit higher, right to the 50 day moving average. Look for it to break out to higher levels. 9/6 it moved up higher above the 50 day moving average. Continue to hold. Now use any close below $12.31 as your stop. 9/7 it's still moving up off of the big Bullish Engulfing signal, continue to hold. 9/8 it still moved up strong, continue to hold. 9/9 it consolidated but moved up to the top end of the trading range. Now use any trading below $13.12 as your stop. 9/12 it's still slowly moving up but is getting toppy. Continue to hold. Use any trading below Friday's low of around $13.12 as your stop. 9/13 it moved up a little bit but is doing indecisive trading. It needs to move higher quickly. 9/14 it's getting a little bit toppy. If it opens weaker and trades down, close out the position. 9/15 it's still in a nice uptrend, continue to hold. 9/16 it's getting a little bit toppy but continue to hold until you see a definite sell signal, which would be a close below the $13.50 level. 9/19 it formed an Evening Star-type signal. Be ready to close this one out on a weaker open on Tuesday. 9/20 it should have been closed out on the weakness on Tuesday.

 

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