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Steve's Trading Diary - October 2005

10/20 Bought WRES. It opened higher but closed below our stop point. This one should have been stopped out at the end of the day. 10/21 stay away from this for now.

10/20 PLB was not bought. It opened lower and would not have been executed on Thursday. 10/21 stay away from this for now.

10/13 Bought AVID. It opened and traded in a positive direction. It formed a little Spinning Top on Thursday right at the 50 day moving average. It should break out through the 50 day moving average on Friday. 10/14 it moved higher, continue to hold. 10/17 it consolidated. Now use a close below $41.00 as your stop. 10/18 it consolidated and closed below the $41.00 level. If you closed this out, be ready to buy this once it comes back up through the $41.56 area. 10/19 it consolidated but came back up and formed a Hammer signal at the 50 day moving average. Be prepared to buy on strength again. 10/20 it's still trading above the 50 day moving average. Be ready to buy this again on strength. It's forming a J Hook pattern. 10/21 this one should have been closed.

10/21 TIE was not shorted. It traded flat and immediately started moving higher. This one can still be shorted but it needs to come back down through the $40.80 level. 10/24 stay away from this for now.

10/11 Bought CNC on the strength Tuesday morning. It came back and closed at the low end of the trading range. It's still in an uptrend but expect a day or two of consolidation. 10/12 it consolidated a little bit but continue to hold. Use a close below Wednesday's low of $22.49 as your stop. 10/13 it formed a Hammer-type signal on Thursday. It closed at $22.50 which was one penny above our $22.49 stop. Continue to hold. Still use a close below $22.49 as your stop. 10/14 we reiterated this as a buy recommendation. 10/17 this was not bought again. It didn't show a positive open. It consolidated but came back up to the top end of the trading range. Be prepared to buy this on any trading above $23.98 on Tuesday. 10/18 it consolidated but closed at the high end of the trading range. 10/19 it formed another Hammer-type signal. Be ready for a breakout to the upside. 10/20 it moved up nicely on Thursday, continue to hold. 10/21 it's still slowly trading in an uptrend. 10/24 it formed a little Spinning Top at what could be considered a resistance level. This one needs to open higher and continue higher up into the gap area. 10/25 this one did open lower. It should have been closed out immediately on the lower open.

10/14 Bought LUM on the strength on Friday. It moved up nicely, continue to hold. 10/17 it continued to move up a little bit on Monday after some consolidation. Be prepared to buy more on strength. 10/18 it traded flat, continue to hold. Use a close below the halfway point of the large white candle at approximately $6.78 as your stop. 10/19 it still moved higher, continue to hold. Still use the halfway point of the last bullish candle of four days ago as your stop. 10/20 continue to hold. 10/21 use a close below the $7.00 level as your stop. 10/24 it's still trying to move higher. Still use a close below $7.00 as your stop. 10/25 it's staying above our stop level, continue to hold. 10/26 it should have been closed out as it closed below the $7.00 stop.

10/26 Bought DSTI. It opened higher but closed off weak. It should have been closed as it closed below the 200 day moving average but it should be bought upon seeing strength on Thursday. 10/27 stay away from this for now.

10/25 NTES was not bought. It opened lower and didn't trade higher. Be ready to buy this one on strength on Wednesday. 10/26 it traded up higher on Wednesday and should have been bought. It backed off near the end of the day but it still traded right at the 50 day moving average. This needs to open and immediately trade higher on Thursday. 10/27 this one should have been closed if you owned it.

 

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