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Steve's Trading Diary - May 2009


5/28 Bought APWR on the positive trading. It formed a Doji on Thursday. If it opens higher on Friday, buy it aggressively. We don't want to see it close back down below Thursday's low. 5/29 It got a little bit toppy. It might be ready to come back and consolidate to the T-line. It needs to open higher and start trading higher to continue to hold. It may move sideways until the T-line catches up. 6/1 It moved up nicely on Monday. Continue to hold. 6/2 It's still working very nicely. Continue to stay with it in this uptrend. 6/3 It pulled back but didn't form a sell signal. However, it did close below the previous day's open, although it didn't gap down to that level. Give this another day. It needs to stay above the T-line to continue to hold. 6/4 It was held because it opened higher. Even though it traded lower, look for it to gap up on Friday. If it does, you will want to be buying it. 6/5 Definitely close this one out if it trades back below Friday's low of $12.81. It needs to open and trade higher. Otherwise, Friday's Bearish Engulfing signal tells us it's running out of steam and it could possibly pull back to the 20 day moving average. If it starts trading below the T-line or Friday's low, close out the position. 6/8 It closed off a little bit but formed a Hammer type signal. It needs to open higher to stay in it. If it opens lower on Tuesday, close out the position immediately. 6/9 If you still own this, continue to hold. It's doing exactly what it's supposed to do at the T-line area. 6/10 It supported very nicely over the last couple of days on the T-line. It can be bought on a positive open on Thursday. 6/11 It held up above the T-line. It needs to trade positive on Friday to stay in it. 6/12 It closed below the T-line. It should have been closed out.

5/19 Bought DIOD on the open on Tuesday. It opened positive and moved up nicely on the day. Continue to hold. Anticipate that it will come up and at least test the recent highs. At this point we don't want to see it close below the T-line. 5/20 It moved up nicely on Wednesday but closed at the lower end of the trading range. You may have to take some profits in this one if it opens weaker on Thursday. It may come back down to test the T-line. 5/21 It backed off a little bit but didn't do anything decisively. It wouldn't be unusual to see it open higher and trade up strong on Friday. Still use a close below the T-line as your stop. 5/22 It's pulling back but very indecisively. It's looking for the next leg up. Still use a close below the T-line has your stop. 5/26 It opened on the T-line and formed a Bullish Engulfing signal. It can still be bought on a positive open on Wednesday. 5/27 It's just hovering at this level. Use the T-line has your stop. 5/28 It backed and filled to the T-line and bounced back up. We need to see positive trading in this one pretty quickly. 5/29 It consolidated nicely and showed a little bit of strength on Friday. If you haven't bought it yet, it can be bought with the anticipation that it could be heading for the $22 to $23 range. 6/1 It consolidated for a few days and then popped back up. If it can break out through the recent high levels, it will move to the $23 to $24 area. 6/2 It formed a Bearish Harami. It needs to open and trade higher on Wednesday. If it closes lower on Wednesday, especially below the T-line, close out the position. 6/3 It backed off but came back up and closed above the T-line. It can be bought aggressively if it opens positive on Thursday. 6/4 It formed a little Morning Star type signal on the T-line. It can be bought aggressively on a positive open on Friday. 6/5 It needs to break out very soon at this level. Otherwise, it may be at a resistance level. If it closes below the T-line, close out the position. 6/8 It gapped up but formed a Belt Hold signal with the stochastics curling down. It needs to stay above the T-line on Tuesday. Otherwise, close out the position immediately. 6/9 It needs to open higher and start trading higher on Wednesday and stay above the T-line. If it opens lower and trades down below the T-line again, close out the position. 6/10 After a big Belt Hold signal, it held at the T-line. It can still be bought on a positive open. We don't want to see it close below the T-line. 6/11 Continue to hold. 6/12 After the bearish Belt Hold signal, it has been trading sluggishly and sideways. It should have been closed out with it closing below the T-line.

5/29 Bought VMED. We reiterated this as a buy for Monday if it opens higher. Continue to hold. We're looking for breakout. 6/1 This was reiterated as a buy and could have been bought as it gapped open again above the previous high. It gave back some but it was only profit-taking. If it opens higher on Tuesday, buy it immediately. 6/2 It consolidated but hasn't shown that the Bears are in control. Continue to hold. If it trades back below Tuesday's low of $8.74, it might be coming down to test the T-line. It needs to trade positive on Wednesday to stay in it. 6/3 It pulled back. It opened flat on Wednesday and faded off from there. If it closes below the T-line, close out the position. 6/4 It can be bought aggressively on a positive open on Friday. 6/5 It can be bought aggressively on a positive open on Monday. It's coming out of a Fry Pan Bottom and is now forming a Scoop pattern. If it opens positive on Monday, you will want to be a buyer. 6/8 With a Bearish Engulfing signal on Monday after a Doji, it needs to stay above the T-line to continue to hold. 6/9 It's still holding up above the T-line. Be ready to buy this on a positive open on Wednesday. It would be forming a Morning Star signal at the end of a slow downtrend, which would have a slingshot effect to the upside. 6/10 It still held up above the T-line. Continue to hold. We'd like to see it open positive on Thursday and start moving up. 6/11 It opened positive on Thursday and held up above the T-line. It can be bought aggressively on a positive open on Friday. Use a close below the T-line as your stop. 6/12 It backed off a little bit and closed right on the T-line. It needs to open higher to continue to hold. 6/15 It should have been closed out as it closed below the T-line.

5/27 Bought CSIQ on the positive open. It started moving higher immediately when the market in general was flat. This is a situation where, when you see a stock moving higher when the overall market is not confirming, you should check the other stocks in that sector to see if they are confirming before making a decision. 5/28 There were some concerns on Thursday that this stock was selling off in a strong market, but there should have been some expected profit-taking with the recent strong move. You can still be a buyer, especially if it comes back up through the highs of the last couple of days. 5/29 It moved up nicely coming off of the Belt Hold signal. Continue to hold. We're looking for it to move much higher. The option trade on this one is working out very well. 6/1 It gapped open higher but came back a little bit. It didn't form a sell signal but might be getting a little bit toppy. Take some of the position off if it comes back down through Monday's low of $13.25. It needs to stay up above that level. 6/2 It consolidated but didn't show any real selling. It pulled back indecisively. If it opens higher on Wednesday, it will continue to move higher. 6/3 It bounced off the T-line and came back up. It needs to stay above the T-line. Preferably, we'd like to see it open positive on Thursday and start trading up. 6/4 It opened higher and started trading up. We have a very nice profit in this one. 6/5 It's still moving up nicely. It formed a Doji. Continue to hold. At this point use the halfway point of Thursday's large bullish candle at around $14.80 as your stop. If it comes back down that far, it tells us the Bears are in control. It needs to continue the upward trend. 6/8 It backed off and formed a second Doji signal. If it opens higher on Tuesday, it can be bought immediately. It's still in a strong uptrend. Long-term holders can keep holding this as long as it doesn't close below the T-line. 6/9 Watch for a breakout. A lot of the solar stocks were moving up strong on Tuesday. Look for a positive open and a strong buying opportunity on Wednesday. 6/10 It moved up a little bit on Wednesday. There is still some strength coming into the solar stocks. Continue to hold. Use the T-line as your stop. 6/11 It's consolidating sideways but isn't doing anything to show any selling yet.  Use the T-line as your stop. We don't want to see this close back below the $14 area. 6/12 It closed below the T-line. However, because of the strength of this trend, give it one more day. If it closes below the T-line on Monday, close out the position. 6/15 It definitely should have been closed out on the lower open on Monday.

5/21 Bought SDA on the positive trading on Thursday. It may have been hard to do with the market trading down so much but Thursday's chart showed that the Bulls were still there after the Belt Hold type signal. It's now forming a J-Hook pattern. 5/22 It had a little bit of weakness on Friday but continue to hold. Use the halfway point of Thursday's bullish candle at around $7.10 as your stop. 5/26 It closed higher. Continue to hold as long as it doesn't close below the T-line. 5/27 It's getting a little bit toppy at this level. It formed a Bearish Harami. It needs to open higher and trade higher to stay in it. Otherwise, if it opens lower and starts trading down, get out of the position. It may hold at the T-line but if it confirms a Bearish Harami sell signal and doesn't hold, close out the position. It can always be bought back later. 5/28 It's in a nice uptrend. Continue to hold. It still has a good-looking chart, especially coming off the Belt Hold type signal. 5/29 It got a little bit soggy but didn't show anything to signify a reversal. It formed a Dark Cloud but it's barely in the overbought area. It needs to open and trade higher. We don't want to see it close below the T-line. If it does, close out the position. 6/1 It gapped back up. It should open higher and trade higher. It's doing somewhat of a derivative Kicker signal. 6/2 It continued its uptrend. Continue to hold. Use a close below the T-line as your stop. 6/3 The Doji followed by the gap down should have warranted closing out at least half the position, but it stayed above the T-line. If you still own it, be ready to close it out if it closes below the T-line on Thursday. We don't want to see it trade at all below Wednesday's low of $7.20. If it does, close it out immediately. 6/4 It held at the T-line. It opened and immediately moved higher. Continue to hold. We don't want to see it close back below the T-line. 6/5 It's still an uptrend and isn't closing below the T-line. Continue to hold. It needs to show some positive trading on Monday to keep holding it. 6/8 This would have been closed out had it not shown immediate buying. It came right back up. Continue to hold. It formed a Bullish Engulfing signal in the overbought condition. Watch for a sell signal. It needs to move up and away from the T-line to stay in it. 6/9 It's breaking out nicely. It can be bought aggressively on a positive open on Wednesday. If it opens strong on Wednesday, you will definitely want to be a buyer. 6/10 It backed off and formed a Bearish Engulfing signal but closed above the T-line. It needs to close above the T-line to stay in it. 6/11 It opened lower and came down but immediately started trading back up and formed a Belt Hold type signal. Continue to hold and be ready to buy it on a positive open. The Belt Hold usually gets things moving. 6/12 It formed a Belt Hold signal on Thursday and continued up on Friday. Continue to hold. 6/15 It had been holding up fairly well but should have been closed out on Monday as it closed below the T-line.

5/8 Bought EIG on the positive open coming out of the Scoop pattern with a gap up. This is still a good buy on a positive open on Monday. Continue to hold. We don't want to see it close back below Friday's open of $10.01. 5/11 It consolidated but came up nicely. If it opens positive, it can be bought aggressively. We don't want to see it close back below the 50 day moving average or the T-line. It needs to break out soon for a Scoop pattern to be in progress. 5/12 It didn't do anything to change the uptrend. Continue to hold. 5/13 It didn't show any strength. If it opens lower on Thursday, close out the position. It needs to open higher and trade higher to stay in it. There's nothing wrong with it, but with the market heading down there probably won't be very much strength coming into it. 5/14 It came back up nicely on Thursday. It can be bought on a positive open on Friday. 5/15 It waffled around but didn't show that there was a reason to get out of it. Continue to hold as long as it doesn't close below the T-line. 5/18 It broke out nicely. Continue to hold. We're anticipating the 200 day moving average as being the next target. 5/19 It's still moving up nicely. We're still expecting it to hit our target at the 200 day moving average. 5/20 It was acting well on Wednesday but formed a Shooting Star signal on big volume. If it opens lower on Thursday, close out the position immediately. 5/21 It held up well. It consolidated and backed off. If you closed it out, you can buy it back on a positive open on Friday. As of right now it hasn't closed below the T-line. 5/22 It's still trading indecisively but isn't showing a change in investor sentiment. Continue to hold. Use a close below the T-line as your stop. 5/26 It held up in a sideways movement. Look for the T-line to catch up and see if it will pop up off of that. 5/27 It's getting a little bit toppy at this level. Stay in the position as long as it doesn't close more than halfway down Tuesday's bullish candle. That would probably coincide with a close below the T-line. 5/28 It formed an Evening Star signal, which means that if it closes below the T-line on Friday, close out the position. 5/29 It consolidated nicely and came back up strong by the end of the day on Friday. We don't want to see it close below the T-line. Continue to hold. 6/1 It's still moving up well. It moved up and then consolidated to the T-line. Look for it to move to the 200 day moving average and possibly higher. We don't want to see it close back below the T-line. 6/2 It's still in a slow steady uptrend. Continue to hold. 6/3 It continued to move steadily upward. We're still looking for the 200 day moving average to be the first target. 6/4 It's still moving up steadily. Continue to hold. 6/5 It's getting very close to the 200 day moving average. Get ready to start taking some profits if it shows resistance at the 200 day moving average. We're seeing indecisive trading at this level so you definitely want to use a close below Friday's low at around $12.65 as your stop. That would tell us it's coming back down. It may be testing the T-line or waiting for the 20 day moving average to catch up, but there will probably be profit-taking once it hits the 200 day moving average. 6/8 It's doing indecisive trading right at the 200 day moving average and the T-line. It will either open higher and break out or it will trade weaker. If it starts trading weaker on Tuesday, close out the position. 6/9 It bounced off the 8 day moving average and closed below the 200 day moving average. We're looking for a breakout situation here. 6/10 It's pushing on the 200 day moving average as the T-line is coming up to meet it. If it closes below the T-line, close out the position. If it trades above the 200 day moving average, you can buy it again. 6/11 It was able to move up through the 200 day moving average on Thursday. It can be bought aggressively on a positive open. It could break out big. 6/12 It stayed above the 200 day moving average and the T-line. Continue to hold. 6/15 It should have been closed out as it opened at the previous day's open and started moving down.

5/29 HD was not shorted. It opened higher and traded higher most of the day. Now it looks like it's trying to do some bottoming action at this level.

5/22 Bought CADX as it moved up through Thursday's close. It's forming kind of a Scoop/J-Hook pattern. Continue to hold. We're looking for it to break out into new highs. At this point we don't want to see it close more than halfway down Friday's large bullish candle at the $10 area. 5/26 It moved higher. It's continuing the Cradle type pattern. Continue to hold. 5/27 It formed somewhat of a Bearish Harami/Shooting Star right at the same level where it topped out before. Close this out on a weaker open on Thursday. It needs to open flat and trade higher to show that it's not forming a Double Top. 5/28 It broke out into new territory but came down and formed a Shooting Star type signal. However, it's not in the overbought area. We'd definitely like to see it open higher and trade higher to break out of this range. If it opens lower, use Thursday's low of $10.75 as your stop. If it comes back down through there, it will probably come down to test the T-line. 5/29 It consolidated and formed a Bearish Engulfing signal. It still closed above the T-line after bouncing off the 20 day moving average. It needs to open higher and trade higher to stay in it. If it closes below the T-line, close out the position. 6/1 It closed right on the T-line. It needs to open higher and stay higher on Tuesday. Otherwise, close out the position. 6/2 It should have been closed out on Tuesday as it came back down and closed below the T-line.

5/29 Bought SFY on the positive trading. It consolidated a little bit but it's still in a J-Hook pattern. Continue to hold. Use the T-line as your stop. 6/1 It continues to move up nicely. Look for it to go to to the 200 day moving average. 6/2 It consolidated a little bit on Tuesday but it wasn't anything to change the investor sentiment. If it opens and starts trading down, it may come down to test the T-line. But as of right now, we're still looking for it to break out through the recent highs. 6/3 It should have been closed out on Wednesday as it closed below the T-line. A lot of the oil stocks get hit hard on Wednesday because of the reserves being up so much.

5/29 Bought GMXR on the positive trading. It had a Doji type day. Continue to hold. We don't want to see it close back below the T-line or the halfway point of Thursday's bullish candle at around $17.40. If it opens positive on Monday, it can be bought aggressively. That would tell us it's breaking out of the J-Hook pattern. 6/1 It moved up nicely. Continue to hold. It's moving up off the Belt Hold type signal. 6/2 It consolidated a little bit but hasn't changed direction yet. We don't want to see any trading below Tuesday's low at the $17.80 level. That would tell us the Bears will probably bring it back down to test the T-line. It needs to open and trade higher on Wednesday. 6/3 It should have been closed out on Wednesday as it closed below the T-line. It tried to move up near the close but couldn't.

5/28 Bought FDML on the positive trading on Thursday. It had a Doji day, which means that if it opens higher on Friday you can still buy it because it may have another move like we saw on Wednesday. The Doji tells us the Bulls and the Bears are fighting. If the Bears step out of the way, the Bulls will have a good run. 5/29 It held up well. It consolidated a little bit but didn't change the upward trajectory after the Cradle type pattern. 6/1 It gave back a lot. It formed a Spinning Top but stayed above the T-line. It needs to open higher and trade higher on Tuesday to continue to hold. 6/2 It closed below the T-line but closed between the T-line and the 50 day moving average. It needs to open positive and trade positive to stay in the position. If it opens lower on Wednesday, close it out. 6/3 It came back up and closed where the moving averages are coming together. If you closed it out on the weaker open on Wednesday, that's fine. Be ready to buy it back on a positive open on Thursday or over the next day or so.

5/22 IPI was not shorted as it opened higher and stayed higher all day. It now may be considered as a buy if it opens positive on Tuesday.

5/22 SCHN was not shorted. It opened higher and traded higher all day on Friday until it dropped off pretty fast on the close. It can be shorted if it opens lower on Tuesday, especially if it trades below the $51 area. Be ready to short this one below $51.

5/20 Bought PCX on the positive trading on Wednesday. It moved up nicely. It came back a little bit but still had a nice move to the upside. Continue to hold. We don't want to see it close below Wednesday's low of $9.60. 5/21 It backed off but didn't form a sell signal. It was just a bad day in an uptrend. However, it needs to open higher and trade higher on Friday to stay in it. If it opens below the T-line and starts trading down, close out the position. We'll just have to wait for the next buy signal at that point. 5/22 It was closed out as it closed below the T-line. It opened higher but couldn't find any strength for the rest of the day. Now wait for the next buy signal.

5/26 FSYS was not bought on Tuesday. It traded up a little bit but it wasn't anything convincing. However, this can be bought immediately on a positive open on Wednesday after Tuesday's Doji on the T-line.

5/26 TCK was not bought on Tuesday. It held up above the T-line but it needs to trade higher. It closed flat on Tuesday. It can still be bought on a positive open on Wednesday.

5/26 PSYS was not shorted. It opened and immediately traded higher on Tuesday. It can still be shorted if it comes back down through the $17.95 level.

5/26 CRM was not shorted on Tuesday. If you did short it, it should have obviously been closed out with the 200 point move in the market.

5/21 Shorted LECO. It opened higher so a good place to put a sell stop to short this would have been one tick below Wednesday's close. If it comes back down through there it shows that, after a sell signal on the T-line followed by a positive open that immediately started selling off, it shows that the Bears are still in control. Continue to stay short. We don't want to see it close back up above the T-line. 5/22 Continue to stay short. There is still a possibility that it could come down and test the 50 day moving average. 5/26 It was closed out as it came up through Friday's high, especially with the market acting strong. This told us the buyers had come back in.

5/27 SPAR was not bought. It opened higher and immediately traded down. If you did buy it on Wednesday, it needs to open higher and trade higher on Thursday to stay in it. If you are able to watch a stock open higher but there is no follow-through, you shouldn't go after it until you see the buying coming in.

5/27 STAR was not bought on Wednesday. It opened slightly lower and traded down.

5/21 Shorted COF on the weakness. It actually closed as a Doji, which makes our decision very simple on Friday. If it opens lower on Friday, it can still be shorted. If it opens higher on Friday, close out the position. Then see if it resists at the T-line before attempting to re-short it. 5/22 Continue to stay short. It opened lower, couldn't trade up most of the day, and started selling off at the close. 5/26 It closed higher. It's forming somewhat of a Piercing signal. It should be closed out if it opens higher on Wednesday. It needs to open lower and trade down to stay in it. 5/27 This short position was closed as it opened and traded higher. But at the end of the day it came back down and closed lower. It can be re-shorted if it opens weaker on Thursday.

5/28 Shorted CTCM on weakness on Thursday, but it should have been covered on the close.  It should have shown more weakness on Thursday after the Kicker signal but didn't.

5/28 SKM was not shorted. It formed a nice Kicker signal to the downside but opened up positive on Thursday and stayed positive.

5/20 Bought KIRK on the positive open. It moved up nicely but then pulled back near the end of the day. It's still coming out of a Scoop pattern. It can still be bought if it opens positive on Thursday. If you bought it on Wednesday and it opens lower, close out the position. 5/21 It still moved up nicely even in a bad market coming out of a Scoop pattern. Continue to hold. At this point use a close below the T-line as your stop. 5/22 It came up nicely coming out of the Scoop pattern. Continue to hold. Use the halfway point of Thursday's bullish candle at around the $7.55 level as your stop. 5/26 It may be running out of steam a little bit. Continue to hold. At this point we don't want to see it trade back below Tuesday's low of $7.95. It needs to open higher and trade higher to stay in it. If it starts backing off, it could come back down and test the T-line. 5/27 It's getting a little bit toppy at this level. If it doesn't open higher and trade higher, you'll probably want to take some profits on Thursday. If it comes back down below Wednesday's low at the $7.98 level, close out the position. 5/28 It was stopped out on Thursday as it came down through the previous day's low. There was profit-taking all the way down to the 20 day moving average but it moved right back up again. It took out a lot of sellers. If it opens positive on Friday, it can be bought aggressively.

5/14 Shorted TCK but it came back up and tested the T-line and closed slightly lower. It needs to open lower and trade down to stay short. If it opens higher on Friday, close out the position. 5/15 This short position should have been closed as it opened higher on Friday and started moving up. However, it can be re-shorted if it comes back down through Friday's low of $11.82. When we closed out the short position, we put a sell stop at $11.80 but it didn't quite reach that level. If it trades below $11.80 on Monday, re-short the position.

5/18 SMSI was not bought. It opened positive but immediately started trading off. However, it can still be bought if it comes back up through Friday's high of $8.98. If it comes up through there, you will want to be a buyer on a J-Hook type pattern.

5/18 WCG was not shorted even though it traded lower during the day, basically because the market was trading stronger. We wanted to stay away from this because the market was not heading down as we expected.

5/18 MDP was not shorted because it opened higher and traded higher all day. Now it can be bought on a positive open on Tuesday.

5/14 Shorted CETV on the weakness on Thursday. It needs to open lower and trade down. We don't want to see it trade at all above Thursday's high of $18.00. If it comes up through there, it tells us it's bouncing back up and we would want to cover the short position. 5/15 It moved up but failed at the T-line and came right back down. It can be re-shorted on a lower open on Monday. 5/18 It opened higher and should have been closed out immediately.

5/14 Shorted WYNN on the weakness on Thursday. It traded down quite a bit but came back up. It needs to open lower on Friday to stay in it. We don't want to see it trade at all above Thursday's high at the $41.06 level. 5/15 It bounced on Friday. If you covered it, it should have been re-shorted. It came up, tested the T-line, and failed. If you're out of it, be ready to re-short it on a weaker open on Monday. 5/18 It should have been closed out as it came up through Friday's open. It did not trade lower on Monday.

5/19 LYV was not bought on Tuesday but can still be bought on a positive open on Wednesday. We're still looking for a J-Hook pattern. If it comes up through the $5.10 area, it tells us the Bulls are still in this one and you can be a buyer.

5/14 Bought NTT on the positive open. It formed a Doji on Thursday after Wednesday's gap up through the trend channel off the 50 day moving average. If it opens higher on Friday, you can buy it again. That would tell us the Bulls were still in control. 5/15 It held up reasonably well. Continue to hold. At this point we don't want to see it close below Friday's low of $20.55. It needs to continue moving in an upward direction. 5/18 It backed off a little bit on Monday and formed a Bearish Engulfing signal. It needs to open higher and trade higher on Tuesday to stay in the position. 5/19 It was closed out because it was showing weakness. It will probably come back down and test the T-line.

5/15 Shorted ATHN as it opened lower and started trading down. This is exactly what we anticipated coming out of the little Pennant formation with a breakdown. Also, it opened lower after a Doji. 5/18 It formed a Bullish Harami that bounced off the 200 day moving average. This should be covered if it opens positive on Tuesday. 5/19 It opened flat and traded down most of the day but came back up toward the end of the day. Continue to stay short but it needs to open lower on Wednesday. If it opens positive on Wednesday, close out the position immediately. The sellers need to show that they are still participating. 5/20 This short position should have been closed out on the strength. When it opened higher and moved up, it should've been closed out. Now watch to see if it opens positive on Thursday to be a buyer after the Pennant/Scoop pattern set-up.

5/11 Bought EBS on the positive open. It's going right to the 50 day moving average for the first test. Continue to hold. 5/12 It pulled back a little bit but didn't do anything to change the uptrend. Use the T-line as your stop. 5/13 It acted weak on Wednesday. You can hang on to it but it definitely needs to open positive on Thursday to stay in it. If you closed it out on Wednesday, there's nothing wrong with that. You can always buy it back if the market has a big turn on Thursday. 5/14 It consolidated right down to the T-line but didn't do anything decisive. It can be bought on a positive open on Friday. 5/15 It was kind of "waffly". We don't want to see it trade at all below the T-line. If it does, it tells us the Bears have taken control. It needs to trade above the T-line and preferably above the open and close of Friday. 5/18 It traded up a little bit. Continue to hold. It should break out through the 50 day moving average and go all the way up to the 200 day moving average. 5/19 It didn't do anything to change the trajectory, it's just running out of steam. It needs to open higher and trade higher on Wednesday to continue to hold. 5/20 Even though it didn't close below the T-line, it should have been closed out.  It's had five or six days to get going but hasn't done anything, so close it out and use the cash for something better.

5/21 LDK was not bought on Thursday but it consolidated nicely and came back up toward the top end of the trading range. If it trades positive on Friday, especially if it comes up through Thursday's high at the $9.70 level, it can be bought. That would show that the Bulls are still participating in the uptrend.

5/20 Bought ARB on the positive open on Wednesday but it came back down and closed at the low end of the trading range. It needs to be closed out if it opens lower on Thursday. It needs to open higher and start immediately trading higher. 5/21 It should have been closed out as it opened lower on Thursday, but it formed a Hammer type signal that brought it back up above the T-line. If it opens positive on Friday, you can buy it back immediately.

5/18 Bought CMTL as it came up through the T-line and the previous day's close on Monday. Continue to hold. We don't want to see it close back below the T-line. 5/19 It moved up slightly on Tuesday. There was nothing to change the upward trajectory. Continue to hold. We don't want to see it close back below Tuesday's low of $28.06, which would also be closing below the T-line and the halfway point of Monday's bullish candle. If that happens, it may come down to test the 50 day moving average one more time. It needs to be moving in a positive direction from here. 5/20 It came up, hit the 20 day moving average, failed, and pulled back. If it opens lower on Thursday, it means it will move back down through the T-line and you would want to close it out. 5/21 It was closed out as it opened lower on Thursday. It can be bought on the next buy signal.

5/15 Bought AGU on the positive open. It traded up most of the day but came back down toward the lower end of the trading range. Continue to hold. We don't want to see it close below Friday's low. It needs to open and trade higher to confirm the wave three pattern. 5/18 This could have been bought on the positive open on Monday. Continue to hold this until you see a sell signal. 5/19 It hesitated on Tuesday but it's only profit-taking. We don't want to see it trade back below Monday's low of $50.05. If it comes back down through there, it will probably come back down to test the T-line. 5/20 It formed a Shooting Star type signal. It moved up but closed near the lower end of the trading range. It needs to open higher. If it opens lower on Thursday, close out the position. 5/21 This is a perfect example of closing some of the position out on a Shooting Star signal away from the T-line and then closing out the rest of it based on how it opened. It gapped down so now it should be closed out completely.

5/1 Bought DRYS on the open. It's gapped up, which we were hoping it would do. Notice the Scoop type pattern off the Doji and the T-line. It can be bought aggressively if it opens higher on Monday. It should move up to the $12 area and fill the previous gap. 5/4 It gapped up nicely on Monday. Continue to hold. There is a good possibility that this could come up to fill the gap at the $12 area. 5/5 It showed some profit-taking but closed higher. Continue to hold. 5/6 It continued to move up. Notice how it opened and traded lower on Tuesday and then gapped up and traded up on Wednesday. This is a very strong signal that tells us the buyers are still in it with a lot of force. Continue to hold. We wouldn't be surprised to see it move up into the $16 to $17 area. 5/7 It did some consolidating but can still be held as long as it doesn't close below the T-line. 5/8 In spite of our expectation that it would move higher, it formed a Bearish Engulfing signal and gapped down the next day. Anytime you see this, you will probably want to get out of the position fairly quickly. You should be out of this position now since it closed below the T-line. Now watch for the next buy signal. The stock is down only because of an analyst's downgrade, but this doesn't mean anything regarding everyone else's perception of the company.

5/12 WMGI was not bought. It didn't move up above our buy stop and traded lower all day long. It can be bought if it comes up thorugh the $16.15 level.

5/8 Bought CXW on the positive open. It consolidated but formed a Doji. If it opens positive on Monday, buy it aggressively. At that point it should be moving right up through the 200 the moving average. 5/11 It consolidated but didn't do anything that would show any negative pressure. Continue to hold. We don't want to see it close below Monday's low of $15.83. That would show that there was too much selling to warrant holding the position. 5/12 It closed more than halfway down Thursday's bullish candle. It should ahve been stopped out. If you didn't close it, give it one more day. If it opens lower on Wednesday, close out the position. It needs to open higher and immediately trade higher.

5/13 NNI was not bought. It didn't open correctly on Wednesday because the market was opening down. It can still be bought if it comes up through the $8.10 area. That would show us that the Bulls were still in it. Use $8.10 as a buy stop.

5/13 IMGN was not bought. It did open higher but didn't do anything after that. It traded off. with the market acting the way it was Wednesday morning. With the Dow looking like it would be down 120 points, there was no reason to be buying. It can still be bought if it comes back up through the $7.50 level. Notice that it closed right on the T-line so if that's acting as support and it moves back up, you can be a buyer.

5/11 Bought FSYS on the positive open on Monday. It traded up most of the day and came back down to the lower end of the trading range by the end of the day. However, there wasn't anything to deter the influence of the Kicker type signal or the uptrend. If it opens positive on Tuesday, it can be bought aggressively. 5/12 It backed off severely and closed below the halfway point of Friday's bullish candle. This would normally be closed out and probably should have been, but because of the magnitude of the buy signal, a Kicker signal coming out of an Island Reversal, give it one more day. It needs to open higher and start trading higher to stay in it. If it opens lower and pulls back, close out the position. 5/13 With the markets showing that much weakness on the open, this should have been closed out immediately. It had a nice breakout but fizzled, so we had to get right back out of it.

5/7 Bought SJT on the positive trading. It needs to open higher and trade higher. It's still showing a very nice pattern for a potential breakout to the $25 area. 5/8 It moved up nicely. It can still be bought. We're anticipating that it will move all the way up to the 200 day moving average. 5/11 It consolidated but is still coming up out of the flat indecisive trading area with several Doji signals. Still use a close below the T-line as your stop. 5/12 It's still coming out of the flat Cradle type pattern. It consolidated. Continue to hold. It needs to open higher and trade higher. If it opens lower and starts trading down, close out the position. 5/13 It was closed out on Wednesday with it closing below the T-line.

5/6 Bought BAC on the open on Wednesday. It gapped up through the recent highs and formed a nice little rounding bottom pattern. It's headed for the 200 day moving average. 5/7 This was reiterated as a buy. It gapped open and traded lower but we will continue to hold this. After hours it was back up to $14.73. We're anticipating that it will head up to the 200 day moving average immediately. 5/8 After opening higher on Thursday, it moved down and came back up. We're still looking at the 200 day moving average as the next target. 5/11 It opened lower and closed lower. This is not what we wanted to see. It needed to open higher and trade higher. Be ready to close this out if it opens lower and starts trading down on Tuesday. That would mean it's coming back to test the T-line. It needs to open higher and trade higher on Tuesday to stay in it. 5/12 It did open higher but closed lower. It came down and bounced off the T-line. It needs to stay above the T-line to continue to hold. If it trades below the T-line, close out the position. 5/13 It was closed out as it opened lower and started heading down below the T-line. 

5/6 Bought MEDX on the open as it opened higher but it came back and closed lower. It needs to open higher and start trading higher to continue the J-Hook pattern. Otherwise, it will probably come back down and test the T-line. If it opens lower, especially if it trades back below Wednesday's low of $6.36, close out the position and see what it does when it gets to the T-line. 5/7 It didn't trade positive but it needs to trade positive on Friday to continue holding this one. We don't want to see it close below the T-line. 5/8 It needs to have a positive open on Monday or it's time to get rid of this one and move money elsewhere. 5/11 It moved back up nicely on Monday. It can be bought aggressively if it can break out through its upper level. 5/12 It's trading indecisively. Give it one more day. It needs to trade up and break out of this area. Otherwise, the force of the previous buy signal has been lost. It should have been breaking out if the buy signal was working. 5/13 It needed a positive open, which it didn't get. It was closed out on the open.

5/5 Bought CENX on the open on Tuesday. It moved up nicely coming out of the Fry Pan Bottom breakout. We suspect that this will move up pretty strong, possibly to the $17 to $18 level. Continue to hold. At this point we don't want to see it close back below Tuesday's open of $7.18. 5/6 It may be running out of steam but it's still in a nice uptrend. We need to see confirmation. At this point use the $7.10 area as your stop. We don't want to see it trade below that level. That would tell us the profit-taking is coming in and it's coming down to meet the T-line. This one needs to open higher and trade higher to stay in the position. 5/7 It backed off on Thursday. It should be closed out if it opens lower on Friday. It needs to open higher and trade higher for us to stay in the position. 5/8 If it opens positive on Monday, buy it aggressively. That should eventually take it up to the 200 day moving average. We don't want to see it close back below the T-line. 5/11 It came right back to test the T-line. It needs to open positive on Tuesday. If it does, it can be bought. The consolidation back to the T-line is exactly what we wanted to see. If it closes below the T-line, close out the position. 5/12 It closed right on the T-line, which means it needs to open higher and trade higher on Wednesday to continue to hold. If it closes below the T-line, close out the position. 5/13 It was closed out as it opened lower on Wednesday. Now watch for an inverted Scoop pattern.

5/4 Bought CSIQ on the positive open. It gapped up and immediately started trading higher. It's coming out of a nice Scoop pattern. This stock was up 32% on the day. Continue to hold. We don't want to see it trade back below Monday's open. Continue to own it as long as it stays above that level. 5/5 After the 32% gain in this stock, it did a little bit of backing and filling but it was nothing major. Continue to hold. We still expect that this will have a nice strong uptrend. 5/6 It consolidated but traded a little bit higher on Wednesday. It will hopefully move positive toward the 200 day moving average fairly soon. 5/7 It consolidated back to the T-line but closed near the top of the trading range. Be ready to buy it aggressively if it comes up through Thursday's high of $9.65. 5/8 It has consolidated. Continue to hold as long as it stays above the T-line. It had a really nice move last week. Hopefully this will bottom out and head back up very soon. 5/11 It came back down and used the T-line as support. It needs to open higher on Tuesday to show that any buying is going on. If it closes below the T-line, close out the position. 5/12 It used the T-line as support. It needs to open higher and trade higher to stay in the position. 5/13 It closed right on the T-line on Tuesday. It needed to open higher and trade higher. It should have been closed out immediately on the weaker open. This was a function of seeing the Dow futures down big and the NASDAQ futures also down big.

5/4 Bought PCX on the positive open. It's breaking out nicely from the Rounded Bottom pattern. Continue to hold. You can take a look at the call options on this one, like buying the June 10's and selling the June 15's. 5/5 It did some backing and filling but stayed in positive territory. Continue to hold. At this point we don't want to see it close back below Tuesday's low. That would create an Evening Star type signal. 5/6 It consolidated again but it wasn't anything vicious. It's just showing some profit-taking. We don't want to see it close below the low of Monday's bullish candle. We need to see it open higher and trade higher to tell us that it's only consolidating during an uptrend. It may move sideways for a couple of days so the T-line can catch up. 5/8 It came right back up. It can be bought aggressively on a positive open on Monday. We don't want to see it close below the T-line. 5/11 It came right back to the T-line. If it opens higher, it can be bought aggressively. We don't want to see it close below the T-line. 5/12 It opened higher but traded down. It's still in the context of a J-Hook pattern set-up. 5/13 It was closed out as it gapped down and started trading lower. It finally closed below the T-line. It needed to have positive trading to confirm the J-Hook pattern.

5/1 CPO was not bought on Friday with it opening lower. However, it came back up after consolidating and closed at about the same level where it opened. This can still be bought if it comes up through the $24 area near Thursday's close. If it opens positive and starts trading positive, buy it immediately. The Scoop type pattern gives us a strong indication that the stock will probably move up to the 200 day moving average.

5/6 NCS was not bought on Wednesday but if it comes up through $7.00 on Thursday, start buying it. It's still breaking out of the Fry Pan Bottom pattern.

5/7 Bought WNR on the positive open but it was closed out as it closed more than halfway down Wednesday's bullish candle. However, it can still be bought if it trades positive on Friday. It would need to show that the profit-taking was over and the breakout was still in progress.

5/7 AU was not bought on Thursday. It opened and immediately started trading off. It can still be bought if it comes back up through Thursday's open of $36.83.

5/5 Bought ENER on the positive trading on Tuesday. It closed slightly lower but didn't change the trajectory of the Fry Pan Bottom. Continue to hold as long as it doesn't close below the T-line. 5/6 It pulled back to about halfway point of Monday's bullish candle. If it starts trading lower on Thursday, especially below Wednesday's low of $19.66, you will probably want to close out the position. It would then probably come down and test the T-line. We need to see it open flat and start trading higher on Thursday. 5/7 It should have been closed out as it gapped down on Thursday. It gapped down based on a broker de-recommendation. In those types of situations, watch it for a few minutes. If it doesn't immediately start coming back up, close out the position. A candlestick sell signal followed by a gap down would definitely warrant closing the position. Now we will watch to see if it bases again and comes back up.

5/4 Bought FRO on the positive open on Monday. Once you see a breakout from a flat bottom, it tells you we're seeing a new dynamic. This stock should have enough strength to get up to the 200 day moving average. Continue to hold. We don't want to see it close back below Monday's open of $24.20. 5/5 It took a big lump on Tuesday. Normally we would have stopped it out at the previous day's low, but because it's coming out of a Fry Pan Bottom and should be in a sharp uptrend, we'll give it one more day. We want to see it open higher and trade higher to continue to hold. 5/6 It came back up again on Wednesday. It opened higher and is still maintaining the uptrend. If it opens higher again on Thursday, buy it aggressively. It's still in the process of consolidating after a breakout before heading higher. 5/7 It formed a Bearish Engulfing signal. It should have been closed out on Thursday. If not, be sure to close it out on a weaker open on Friday. The only way to stay in it is to see it open higher and trade higher.


 

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