Steve's Trading Diary - February 2008
2/26 Bought OMCL on the positive open as it gapped up through the T-line and started moving up. The next target is the 34 day moving average or around the $21.75 range. 2/27 It has been trading positive and is still in a nice uptrend. Continue to hold. Use the T-line as your stop. 2/28 It had a nice day. It opened lower and came right back up again. Continue to hold. We're still anticipating the first target to be the 34 day moving average. 2/29 It continued to move up nicely, continue to hold. Use a close below the T-line as your stop. 3/3 It formed a Bearish Harami. It's not quiet in the overbought area but we may see some consolidation or sideways movement until the T-line catches up. Still use a close below the T-line as your stop. 3/4 It traded off but still closed above the T-line on Tuesday. It needs to open higher and trade higher on Wednesday to continue to hold. If it opens lower, close it out immediately. That would tell us the Bears were in control. 3/5 It moved up nicely on Wednesday, continue to hold. Anticipate a test of the 50 day moving average. 3/6 It held up well on Thursday. Continue to hold. If it closes below the T-line, close it out. 3/10 This is one of the few long positions we still have open. Continue to hold as long as it stays above the T-line. It's starting to get up into the overbought area so be a little more diligent in watching to see that it doesn't back off. 3/11 It consolidated on Tuesday with a big strong market. This may be telling us to be ready to take profits if it opens lower on Wednesday. It needs to stay above the T-line to continue to hold. 3/12 It held up above the T-line on Wednesday. It traded a little bit lower but came right back up. Continue to hold. 3/13 It broke out nicely. Look for it to come through the 50 day moving average. The stochastics are running out of steam so if it fails at the 50 day moving average, take profits. 3/14 It formed a Bearish Harami. It bounced off the T-line. If it opens lower and starts trading down on Monday, close out the position. It needs to open and immediately start trading higher to keep holding it. 3/17 It was closed out on the gap-down open which took it down below the T-line.
2/27 Bought SDTH on the positive trading on Wednesday, but it came back and closed right at the even point, which is all right, but we still need to see it come up through the T-line and close above it in the next day or so. If it opens positive on Thursday, you can buy it immediately. 2/28 It consolidated but had a Doji day. It had a big volume day as well. That may have indicated that there was a lot of the stock trading hands. We want to see it start trading above the T-line in the next day or so. 2/29 It was down but it didn't break through the support level and it did it indecisively. Continue to hold but be ready to close the position if it breaks through the support level. 3/3 It maintained at the current level. It's still trying to bottom. Be ready to buy this, especially if it comes up through the T-line. 3/4 It formed another Doji at the bottom. We're looking for that next positive move. You can double up on your position when that happens. 3/5 It formed a Bullish Engulfing signal on Wednesday after the Doji gap down. Be ready to buy this one aggressively on a positive open on Thursday. The stochastics are in the oversold area and are starting to curl up. 3/6 It should be closed out on Friday if it opens lower and starts trading lower. 3/10 It was closed out on the lower open on Friday.
2/21 Bought COIN on the positive trading on Thursday. Look for it to move higher. It closed lower than where it opened but it's still in a nice little uptrend in the breakout from the Fry Pan Bottom. 2/22 It consolidated but came back up a little bit. It didn't sell off too badly. It definitely needs to show a positive open on Monday and<