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Steve's Trading Diary - December 2005

12/20 Bought DTPI on the strength. It formed another Doji. We're still anticipating that it will break out through the $8 range and possibly go to $11. 12/21 it traded a little bit higher. It needs to break through the $8 range with strength and go to the $11 area. 12/22 it broke out through the $8 area. Now anticipate that it will move up into the $9 to $10 range. 12/23 it showed indecision on Friday. Now use a close below $8.04 as your stop. 12/28 it stopped its downtrend. If you have been stopped out, be ready to buy on positive trading on Thursday. 12/29 it's moving back up, continue to hold. 12/30 continue to hold. Use a close below the $7.80 level as your stop. 1/3 it formed a strong Hammer signal and it closed above our stop level. Buy it aggressively on a positive open on Wednesday. 1/4 it had a bullish day after Tuesday's Hammer. It's still in a nice uptrend, continue to hold. 1/5 it's moving up nicely after the Hammer followed by a Bullish Engulfing signal, continue to hold. 1/6 it's still moving up nicely, continue to hold. 1/9 it moved up but formed a little gap-up Doji. It needs to move higher on Tuesday to continue its uptrend. 1/10 it's still in a slow uptrend. It formed a slight Hanging Man signal. Be ready to take some profits on weakness on Wednesday, maybe half of a position. 1/11 it gapped up nicely and hit the 200 day moving average on strong volume. Continue to hold but be prepared to take some profits at these levels. You might want to reduce your position size. 1/12 it consolidated on Thursday. Give it another day to see if it will maintain at these levels. 1/13 it consolidated. Give it one more day to see if has an indecisive-type trading day. 1/17 it traded off another day. If this opens lower on Wednesday, close out the position. 1/18 it opened lower but immediately started trading higher. If you closed out the position and took profits, be ready to buy it back on a positive open on Thursday. 1/19 it's trying to form a J Hook pattern, continue to hold. 1/20 it formed a Bearish Engulfing signal and closed just above the low of the gap-up price. This one needs to open higher and trade higher on Monday to continue to hold. Otherwise, close it out on weakness, on any close below $9.27. 1/23 it's still trading flat, continue to hold. 1/24 it's still trying to bottom, continue to hold. 1/25 it's still trading flat but in the same range as the gap-up area. It's not selling off. Wait for the stochastics to start curling back up. 1/26 this was reiterated as a buy recommendation. 1/27 bought this again, continue to hold. 1/30 continue to hold. 1/31 it's trading right on its support level. It needs to see a positive day on Wednesday. Otherwise it might be time to start taking profits. 2/1 it's still trading in its gap-up range, continue to hold. 2/2 it's still trading sideways, continue to hold. The stochastics are starting to curl back up. 2/3 this one should now be closed on a weaker open on Monday. 2/6 it opened flat and formed an Inverted Hammer. If it opens lower on Tuesday, close the position immediately. 2/7 it's still hanging in there. Be ready to buy if it starts showing strength. The stochastics are still in the oversold area. 2/8 it is now in the oversold area. It's still trading near the bottom of the gap-up of three weeks ago. If this doesn't show any strength in the next couple of days, close out the position and wait for the next buy signal. 2/9 it traded up slightly higher. It isn't trading out of the range where it gapped up. If it starts moving back up, be prepared to buy it again on strength. If it closes below the $9.20 level, close out the position. If it trades below $9, close it out immediately. 2/10 it's starting to show some buying again. Continue to hold and still use any trading below $9 as your stop. 2/13 it's trading sideways. If this opens lower on Tuesday, close out the position. 2/14 it didn't show any strength on Tuesday. Close this position out on any weakness on Wednesday. This one needs to have a strong day on Wednesday or it's time to move on to something else. 2/15 it's still trading sideways. This one could be closed out if it doesn't show any positive movement on Thursday. 2/16 be prepared to buy on strength. It's still supporting right where it gapped up and is now showing strength again. 2/17 it has started back up. Be prepared to buy on strength. It's starting to form a Rounded Bottom. 2/21 it consolidated but hasn't shown a sell signal yet. Now use a close below $9.35 as your stop. 2/22 it's now coming out of its bottom. Look for it to start moving higher, continue to hold. 2/23 it's coming out of a Rounded Bottom, continue to hold. 2/24 it's coming out of a rounded Fry Pan Bottom, continue to hold. We're expecting a breakout to the upside. 2/27 it's in a slow uptrend, continue to hold. 2/28 it's running out of strength with the stochastics now turning over. If it opens lower on Wednesday and starts trading down, close out the position. 3/1 it's starting to break out to the upside after somewhat of a Fry Pan Bottom formation. Be prepared to buy on strength on a breakout. 3/2 it's trying to form a Fry Pan Bottom. It needs to break out through the $10.50 level to have a good strong run, continue to hold. 3/3 it needs to break out. If it comes back and closes below the last large white candle at approximately $9.80, close out the postion. 3/6 get ready to close this one out on immediate weakness on Tuesday. 3/7 it should have been closed out on the weakness on Tuesday. It was closed out on the open with no follow-through buying.

 

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