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Steve's Trading Diary - March 2008


3/19 Bought NTRI as it opened higher. It closed right back on the T-line. It needs to open higher and start trading higher on Thursday to continue to hold. Otherwise, close the position. 3/20 It opened higher and stayed up above the T-line. Continue to hold. Buy it aggressively on a positive open on Monday. 3/24 It moved up off the T-line again. Continue to hold. This should still be in a good strong uptrend. 3/25 It consolidated back to the T-line. It's still in an uptrend but it needs to move up toward the 34 day moving average fairly soon. Any close below the T-line would warrant closing out the position. 3/26 It's still holding up above the T-line, continue to hold. Use a close below the T-line at around the $14.28 level as your stop. 3/27 Look for a breakout from the Fry Pan Bottom formation in the next day or two. 3/28 It's still maintaining the Fry Pan Bottom pattern, continue to hold. Use a close below the T-line as your stop. 3/31 It's still in an uptrend. Continue to hold as long as it stays above the T-line. 4/1 It closed back below the T-line. If it opens weaker on Wednesday, close out the position. 4/2 It formed a bullish Harami right at the T-line and the 20 day moving average. By this one aggressively on a positive open on Thursday. 4/3 It held at the T-line for the last few days. It didn't confirm the previous Bearish Engulfing signal. It's forming a J-Hook type pattern. If it can break out through the current resistance level, it should have another pop up. We expect it to come up and test the 50 day moving average level, which is the level where it previously gapped down. It should move back up to that level over the next few weeks. 4/4 It consolidated right back to the T-line but came back up. It needs to start showing some strength or it's time to move on to something else. They have a strong nationwide advertising program going on right now. 4/7 It's starting to lose steam. The stochastics are moving flat. A close below the T-line would warrant closing out the position. 4/8 It gapped up nicely from the Fry Pan Bottom and moved up through the 50 day moving average and above the previous gap down level. It should still have some more upside to it. 4/9 It's still confirming the Fry Pan Bottom breakout/gap up. Continue to hold as long as there are no sell signals. 4/10 It pulled back a little bit on Thursday but didn't do anything scary yet after the breakout from the Fry Pan Bottom. Continue to hold as long as it stays up above the 50 day moving average. 4/11 It closed lower but it didn't close below the 50 day moving average. Then, on Friday afternoon there was an announcement that the stock was being added to the indexes so it was trading higher. Continue to hold as long as it stays above the 50 day moving average. 4/14 It held up. It had an announcement that it was being added to one of the indexes. Continue to hold. Anticipate that it will fill the gap at the $22 or $23 area. 4/15 It's still acting well. It broke out nicely from the Fry Pan Bottom, consolidated, and now we're still looking for it to come up and close the previous gap up in the $23 area. 4/16 It consolidated a little bit on Wednesday. It needs to open higher and trade higher. We don't want to see it close below the T-line at all. That would tell us there were no more buyers and the sellers were starting to turn it over. Use the T-line at somewhere around the $18.60 level as your stop. 4/17 It's still staying up above the T-line. It will probably consolidate sideways until it starts a new leg to the upside. 4/18 It's consolidating and is about ready to break out into new territory. Be ready to buy aggressively if it starts trading up above $20.25. That would put it up into new territory. 4/21 It broke out through the recent resistance level. It's still a nice uptrend. Continue to hold. 4/22 It backed off a little bit but the upward trajectory didn't change. Continue to hold. 4

 

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