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Steve's Trading Diary - June 2009


6/30 Bought TRW on the positive trading on Tuesday. It closed a little bit negative but it wasn't anything to change the trajectory of the trend. It needs to open higher and start trading higher on Wednesday to continue to hold. We don't want to see it close back below the halfway point of Monday's large bullish candle at around the $10.85 area. It needs to open and start trading up to show a breakout through the resistance level. 7/1 It continued to move in the right direction. Continue to hold. It should head higher. 7/2 It backed off but didn't do anything decisively. Still use a close below the T-line as your stop. 7/6 It opened lower but came right back up. Continue to hold. Still use the T-line as your stop. 7/7 It didn't do anything that would have caused any great concern. However, if it opens lower and starts trading back below Tuesday's low of $11.09, close out the position. After Tuesday's little Hammer signal you should start seeing strength. If it opens lower, it tells you the Bulls aren't there anymore. 7/8 It's getting very close to being closed out. It needs to stay up above the T-line. The other auto-parts stocks seemed to act well on Wednesday so this one needs to show some immediate strength on Thursday to continue to hold. 7/9 It couldn't close below the T-line. It popped up again. It can be bought again on a positive open on Friday. It's forming a classic J-Hook pattern. 7/10 It's still acting well. Continue to hold. At this point we don't want to see any trading back below Friday's open of $11.75. This chart should be showing a J-Hook pattern in progress. 7/13 It formed a Bearish Harami/Doji on Monday. It needs to open higher and trade higher to stay in it. If it opens lower on Tuesday, close out the position. 7/14 It's still in a nice uptrend. Continue to hold. 7/15 It continues to move up in a nice J-Hook pattern. Continue to hold until you see a sell signal. 7/16 It's still continuing up nicely in a J-Hook pattern. It's moving away from the T-line in the overbought area. Look for some profit-taking soon. Continue to hold until you see a sell signal. 7/17 It's coming out of the J-Hook pattern nicely. Continue to hold until you see a sell signal, which may be fairly soon. 7/20 It continues to slowly move up. We've seen some very good profits in this one, especially after the J-Hook pattern. 7/21 It formed a Doji/Hanging Man. If it opens lower on Wednesday, take some profits. 7/22 It's continuing up. Continue to hold. Use a candlestick sell signal and a close below the T-line as your stop. 7/23 It continued to move up nicely. Continue to hold. 7/24 It just keeps chugging along. Continue to hold. We don't want to see any trading below the T-line. 7/27 It continues to steadily move up. Continue to hold. 7/28 It showed some profit-taking but came right back up again. Continue to hold unless it closes below the T-line. 7/29 It should have been closed out on Wednesday either at the time when it opened below Tuesday's close or definitely when it closed below the T-line. However, watch for a J-Hook type pattern.

6/30 Bought VMED on the positive trading on Tuesday. It can be bought again on a positive open on Wednesday. It's coming out of a Fry Pan Bottom pattern. We don't want to see it close below the halfway point of Monday's bullish candle at around $10 or where the T-line will be on Wednesday. 7/1 It traded up on Wednesday. Continue to hold. This can still be bought on a positive open. 7/2 It closed just above the T-line. Continue to hold but if it closes below the T-line, close out the position. 7/6 It consolidated all the way back to the T-line. It can be bought on a positive open on Tuesday. 7/7 It still closed above the T-line. Close this one out if it trades below Tuesday's low of $9.11. That would be taking it below the T-line and Tuesday's low, which tells us the Bears are still there. 7/8 It continues to stay up above the T-line. Continue to hold. We definitely want to see a positive open pretty soon. 7/9 It couldn't close below the T-line on Wednesday and came up nicely on Thursday. It can be bought again on a positive open. It has formed somewhat of a Cup and Handle type pattern. 7/10 It traded indecisively but still didn't do anything to reverse the trend. If it opens lower and starts trading down, you will probably want to get out of the position. It needs to open higher and trade higher to continue to hold. 7/13 It stayed above the T-line and closed a little bit positive. If it opens positive on Monday, it can be bought aggressively. 7/14 It continues its slow uptrend. Continue to hold. We're still looking for this to break out to the upside nicely. 7/15 It's continuing its steady uptrend. Continue to hold. 7/16 It has moved up very nicely. Continue to hold. 7/17 It's still moving up nicely. Continue to hold. It's forming an obtuse Fry Pan Bottom pattern. 7/20 It formed a Hanging Man/Doji. It needs to open flat or higher to stay in it. If it opens lower and starts trading down, take off at least half the position and see how it finishes out the day. 7/21 It formed another Hanging Man signal. It needs to open higher and trade higher to stay in it. If it opens lower on Wednesday, you will probably want to take some profits. 7/22 It's getting a little bit toppy but hasn't shown a confirmed sell signal. Continue to hold. 7/23 It continued up. We don't want to see it trade back below Thursday's low of $10.64. If it closes below that level, take some profits. 7/24 It continued to move up nicely. Continue to hold. Use the T-line as your stop. 7/27 It's getting a little bit toppy but continue to hold as long as it stays above the T-line. 7/28 It consolidated a little bit but keep holding it. Nothing has changed the upward trajectory. 7/29 It should have been closed out on Wednesday with the lower trading after the Doji.

6/29 Bought BVF on the positive trading on Thursday. Continue to hold. 6/30 It got a little bit "iffy" at this level. It needs to trade relatively flat or positive on Wednesday. If it starts trading off, you may want to come out of it to see whether it will support on the T-line or not. 7/1 It came back nicely. Now we need to see it break out. Notice how it's using the T-line as support. If it can break out through this level, it should move up pretty high. 7/2 It should have been closed because it closed below the T-line. Notice how it traded flat and couldn't get going. That told us the Bears had taken control.

6/24 Bought ASH on the positive open on Wednesday. It formed a Bullish Harami and then gapped up and is forming a nice little J-Hook type pattern. This can still be bought on any positive trading, especially above the $27.30 level on Thursday, which would take it up through the 20 day moving average. We anticipate that it will test the $30 area and possibly go much higher. It has gone from $6 to $30, so this next move could take it up into the mid-50s. 6/29 It continues to move up. We're looking for it to get to the top of the trend channel. Continue to hold. Use the T-line as your stop. 6/30 It consolidated but came back up nicely on Tuesday. Continue to hold. It's still in a nice rounded bottom pattern bouncing off the 50 day moving average. 7/1 It's still in a slow uptrend. Continue to hold. Use the T-line as your stop. 7/2 It should have been closed as it closed below the T-line after a gap down.

6/23 Bought ARUN on the positive trading on Tuesday. It stayed above the T-line. Continue to hold. It can be bought again if it opens positive on Wednesday. 6/24 It had a nice move. Continue to hold. 6/29 It's still in an uptrend. Continue to hold. Use a close below Friday's low as your stop. If it comes back down through there, it will be pulling back to test the T-line. 6/30 It's still moving in a positive direction. Continue to hold. Use the T-line as your stop. 7/1 It consolidated but came back up. The chart is telling us there may have been some profit-taking. Still use a close below the T-line as your stop or, even better, Wednesday's low of $8.32. If it comes back down through there, it shows the Bears are in control. 7/2 It should have been closed out with it closing below the T-line.

6/23 Bought NKTR on the positive trading. It had a nice up-day on Tuesday. Continue to buy this on a positive open on Wednesday. 6/24 It consolidated and closed higher but near the low end of the trading range. It needs to open higher and trade higher. We don't want to see it close below the halfway point of Tuesday's large bullish candle, which would also be near the T-line on Thursday. 6/29 It needs to have a positive open on Tuesday to continue to hold. It has had four indecisive trading days now. 6/30 It's moving sideways. It needs to open higher and trade higher. Close out the position on any trading below the T-line at around the $6.35 level. 7/1 Although very close, it didn't close below the T-line. It needs to open higher and trade higher on Thursday to continue to hold. 7/2 It should have been closed out with it closing below the T-line.

6/19 Bought EIG on the positive open on Friday. It still held up. Continue to hold. Use the T-line as your stop. 6/22 It held up nicely even though it consolidated. It still traded up well above the T-line. Continue to hold. 6/23 It continues to hold up well. It's still in an uptrend above the T-line. 6/24 It got soggy on Wednesday. At this point, if it trades at all below Wednesday's low of $13.14, close out the position. It needs to be trading higher to stay in it. 6/29 Continue to hold as long as it doesn't close below the T-line. At this point use Monday's low of $13.39 as your stop. If it comes back down through that level, you will probably want to be out of it. 6/30 It's still relatively toppy but didn't close below the T-line yet. Continue to hold until you see it close below the T-line. 7/1 It stayed above the T-line. It did open higher and trade higher. 7/2 It should have been closed out with it closing below the T-line. Notice all of the indecisive trading over the past few days.

6/24 Bought YGE on the positive trading. It stayed up above the T-line on Wednesday. If it opens positive on Thursday, it can still be bought. We don't want to see it close back below the T-line. 6/29 It needs to have a positive open on Tuesday and trade higher. If it opens lower on Tuesday, close out the position. 6/30 It needed to open higher and trade higher on Tuesday, which it did. It stayed up above the T-line. It can still be bought aggressively if it comes up through the recent highs. 7/1 It moved up nicely on Wednesday. You can still be a buyer of this on any positive trading on Thursday. 7/2 It consolidated but stayed up nicely. Continue to hold. Use the T-line as your stop. 7/6 It should have been closed out on Monday, especially when it gapped down on the open below the T-line and started trading down.

6/8 Bought ABMD on the positive open. The stock was trading higher most of the day even when the Dow was down 120 points. 6/9 It's moving up slowly but steadily. Look for it to break out pretty strong fairly soon. It's forming a big Cup and Handle type set-up. 6/10 It formed a Bearish Engulfing signal. It will probably form a Cup and Handle pattern here. If it opens lower on Thursday, you will probably want to come out of it if you're a trader. If you're a swing trader, you can probably hang onto it for a couple of days as long as it doesn't close below the T-line. 6/11 It opened lower but came right back up. It can be bought on a positive open on Friday. 6/12 It broke out nicely. Continue to hold. It formed a little Cup and Handle pattern. We're still looking for the 200 day moving average to be the next target. 6/15 It gapped down but came right back up above the T-line. It can still be bought fairly aggressively if it opens positive on Tuesday. 6/16 It held up. Continue to hold. Still use a close below the T-line as your stop. 6/17 It still hasn't closed below the T-line. Continue to hold. It has formed a nice little Cup and Handle type pattern. 6/18 It's still moving up nicely. Notice that it hasn't really given up any strength in this market pullback over the last couple of days. That's because it's coming out of the pattern situation. 6/19 It's still in a nice uptrend. Continue to hold. Use the T-line as your stop. 6/22 It held up nicely. Continue to hold. Use the T-line as your stop. 6/23 It held up on or above the T-line on Tuesday. Continue to hold. Use any trading below $8.00 as your stop. It shouldn't go back in that direction again. 6/24 It's still trading above the T-line. Continue to hold. 6/29 It's still in an uptrend. Continue to hold. 6/30 It's still in a nice steady uptrend. Continue to hold. It's coming out of a Fry Pan Bottom pattern. The potential target is the 200 day moving average. 7/1 It's still in a slow steady uptrend. Continue to hold. Use the T-line as your stop. 7/2 It held up well and has continued to move up. Continue to hold. Use the T-line as your stop. 7/6 It opened in the wrong direction. It was closed out on Monday as it closed below the T-line.

6/29 Bought AES last week on the strength. Continue to hold. 6/30 It consolidated nicely but closed at the top end of its trading range. Continue to hold. 7/1 It continued to move up. Continue to hold. At this point still use the T-line as your stop. 7/2 It backed off after the little Shooting Star type day but it hasn't closed below the T-line. Continue to hold as long as it doesn't close below the T-line. 7/6 It almost closed below the T-line. Give it one more day. It needs to trade positive on Tuesday to continue to hold. 7/7 It should have been closed out on Tuesday as it closed below the T-line.

6/30 Bought FUQI on the positive trading on Tuesday. It's coming out of a strong J-Hook type pattern. Continue to buy this one. If it opens up higher on Wednesday, it can be bought immediately. 7/1 It opened higher and consolidated a little bit but is still in an uptrend. Continue to hold. Use the T-line as your stop. 7/2 It backed off but did it indecisively. This can still be bought on any positive trading on Monday. 7/6 It closed right at the T-line. It needs to open higher and start trading higher immediately to continue to hold. 7/7 It closed right on the T-line. Continue to hold. Use Tuesday's low of $18.45 as your stop. If it moves lower one more time, it tells you the Bears are in control. It needs to trade flat or move higher to continue to hold. 7/8 It should have been closed out as it came down through Tuesday's low. That told us the Bears were in control.

6/23 Shorted DECK on the weakness on Tuesday. It closed below the T-line. If this one breaks down, it could come all the way down to the 50 day moving average. You may consider either selling the July 65 calls for $4.80, or doing a Put Spread on this one. 6/24 It opened higher and traded lower. If you're still short, stay short. If it comes up through the $70 area, close out the position. It needs to trade lower to continue to hold. 6/29 This should have been covered last week as it traded positive.

6/17 Bought BGZ on the positive open. It's forming somewhat of a Rounded Bottom, which is the opposite of a Dumpling Top. If it opens higher on Thursday, it means the futures are down and the markets will be coming down. Now watch to see if it moves sideways. Use a close below Wednesday's low of $35.86 as your stop. 6/18 It consolidated on Thursday with the market trading up a little bit. The decision is very simple based on what the market does on Friday. If the market opens strong, consider covering this position. If the market is weaker, continue to hold. 6/19 It closed above the T-line. If it opens lower on Monday with the market opening stronger, close out the position. 6/22 It continued to act well. This is one of the short funds you should have put into your portfolio. 6/23 Continue to hold. It didn't do anything eventful on Tuesday. You might have to take some profits when it gets to the 50 day moving average depending on what the rest of the market is doing. 6/24 It should have been closed out on the lower open after the Doji. It came down below the T-line and came back up and closed at about where it opened. The position could have been reestablished at that point. If the market is soggy on Thursday, stay in the position. If the market opens stronger, you will probably want to close out the position again. 6/29 It should have been closed out last week as it closed below the T-line on the strength.

6/17 Shorted EXBD as it opened lower on Wednesday. It came up a little bit but didn't change the downward trajectory and the failure at the 200 day moving average. It should be stopped out if it closes above the T-line on Thursday. 6/18 It traded slightly positive but it wasn't anything of any great magnitude. It couldn't come up through the T-line. It needs to open lower and trade lower to continue to hold. If it opens positive, close out the position immediately. 6/19 Continue to stay short as long as it doesn't close above the T-line. 6/22 It broke down. Continue to stay short. At this point use any trading above Monday's open of approximately $20.69 as your stop. 6/23 It didn't do anything exciting on Tuesday. It used the T-line as resistance and formed an Inverted Hammer. The stochastics are still on their way down. We still think this is an a downtrend. Use a close above the T-line as your stop. 6/24 It didn't show any strength and couldn't get up above the T-line. Continue to stay short. 6/29 This should have been closed out. This is a case where, after showing a little bit of strength and the next day showing even more strength with the markets being stronger, it should have been closed.

6/29 Bought MGM last week. It needs to stay above the T-line. It needs to have a positive open on Tuesday and continue trading positive. 6/30 It was closed out on Tuesday as it closed below the T-line. It needed to stay above the T-line to continue to hold.

6/23 Shorted MVL on the weakness on Tuesday. It moved down nicely. We're still anticipating that it will move down to the 34 day moving average or possibly the 50 day moving average, which would coincide with a previous gap. Stay short but use Tuesday's open as your stop. 6/24 It formed a Doji/Harami. If it opens higher on Thursday, close out the short position immediately. 6/29 It was shorted last week. It hasn't confirmed yet to cover this short position but if it opens positive on Tuesday, it should be covered right away. 6/30 It looks like it's trying to build a base here. It should have been closed out on Tuesday. However, if it comes back down through Tuesday's low of $35.15, you can re-short it. That would tell us it failed at the T-line and was heading down to the 50 day moving average.

6/19 BKD was not shorted because it opened positive. It's supporting right on the T-line. Keep an eye on this one. It might be turning into a J-Hook pattern. Be ready to buy this if it comes up through the $10.60 area at the T-line. That would start showing that the 50 day moving average was acting as support and it would be in the next wave to the upside.

6/17 Shorted DECK as it opened weaker. It came back up and closed right at the 200 day moving average. It needs to open lower and start trading down on Thursday to continue to stay short. 6/18 We have reiterated this as a short if it opens lower on Friday. If it opens higher and starts trading above the T-line for a second day, you will probably want to close the position if you're shorting it. 6/19 This was not shorted again because it gapped up. If you were short, it should have been closed out on the positive trading on Friday. If this opens higher, be ready to buy it. It could be setting up a J-Hook pattern.

6/16 Bought MAPP as it opened higher on Tuesday. It did exactly what we needed it to do after Monday's Doji. It can still be bought on another positive open on Wednesday. We don't want to see it close below the T-line. 6/17 It held up reasonably well. It didn't do anything decisively. We're anticipating that this is an upward trajectory even though it has been moving sideways in this market for the last couple of days. Use a close below the T-line as your stop. A close below that level would tell us there is too much weakness in this trend. 6/18 It held up on Thursday. Continue to hold. It's still being influenced by the previous gap up through the T-line. We need to see a breakout through the downtrending channel very quickly. 6/19 It should have been closed out as it closed below the T-line on Friday.

6/22 CTB was not bought on Monday with it opening lower and trading down. It needs to come up through the 20 day moving average before it can be bought again.

6/22 BAC was not bought on Monday with it opening lower with the market and trading down most of the day. This one is now probably waiting for the 50 day moving average.

6/19 Bought PKI on the positive open on Friday. It came back and closed at the lower end of the trading range but it's still moving in an upward direction. If it opens positive on Monday, buy it aggressively. We're looking for a breakout. 6/22 This could have been sold immediately on the weak open. Since we know that a breakout should occur coming out of a strong Fry Pan Bottom, it should have been closed as it opened lower and started trading down. This proved that the Fry Pan Bottom pattern was not working.

6/18 Bought AMLN. It opened lower but was bought as it came back up through the previous day's close, which started to create another bullish candle. This is a nice Fry Pan Bottom breakout. It can still be bought on a positive open on Friday. There could be a lot of upside movement in this one. 6/19 It traded higher. It can be bought aggressively on a positive open. Use the T-line as your stop. 6/22 It should have broken out from the Fry Pan Bottom pattern, but didn't. It opened lower after Friday's Doji. It should have been closed out. Now watch to see if it does a Cup and Handle type set-up.

6/4 Bought EBS on the positive trading on Thursday. Continue to hold. We don't want to see it close back below Thursday's low of $12.09. 6/5 It continues to move up nicely. Continue to hold. At this point we don't want to see any trading below Friday's open of $12.99. It needs to open and continue higher, which makes the 200 day moving average the likely target. 6/8 Even though it backed off a little bit, it didn't do anything to change the trajectory. It was simply profit-taking. Use a close below Monday's low of $13.24 as your stop. If it comes back down through there, it will probably form a J-Hook pattern that will test the T-line. 6/9 It's still moving sideways. We don't want to see it close back below the T-line. 6/10 It formed a Long-Legged Doji on big volume. This makes the decision very simple. If it opens lower on Thursday, close out the position immediately. It needs to open higher and trade higher. If it opens higher, use any trading back below Wednesday's close as your stop. 6/11 It's starting to get a little bit toppy. It had a nice positive open on Thursday. It needs to open positive on Friday and continued higher to stay in it. If it opens lower, close out the position. 6/12 It continued to stay above the T-line. Continue to hold. If it opens positive, it would break out of the little Pennant type formation. 6/15 It held up fairly well. Continue to hold. 6/16 It's obviously getting weak but hasn't closed below the T-line. Continue to hold. Use a close below the T-line as your stop. 6/17 It couldn't close below the T-line. Continue to hold. The 200 day moving averages is the next viable target. 6/18 It held up well and is staying up above the T-line. It's forming a little J-Hook type pattern. Continue to hold. Use the 200 day moving average as your target. 6/19 It's still moving up nicely. Continue to hold. Use the T-line as your stop. 6/22 It should have been closed out as it closed below the T-line on Monday.

6/2 Bought VSH on the positive trading. It can still be bought if it comes up through Tuesday's high of $6.20. If it breaks out through there, you definitely want to be a buyer if you're not in it yet. 6/3 This can still be bought on a positive open. If it can break out through the recent high levels, we have a big mover on our hands. 6/4 It moved up higher. It was reiterated as a buy. If it opens up higher on Friday, continue to buy it. 6/5 We reiterated this one as a buy. It could have been bought as it opened positive. It can definitely be bought again if it opens positive on Monday. If it gaps up through the recent high levels, you will want to buy it aggressively. It would be starting wave three. 6/8 It formed somewhat of an Evening Star signal but closed above the T-line. If it closes below the T-line on Tuesday, close out the position. It would have formed a Double Top. It needs to open higher and trade higher on Tuesday to continue to hold this position. 6/9 We reiterated this as a buy for Wednesday. It can still be bought on a positive open. It's forming a nice J-Hook pattern after a long uptrend. 6/10 This was reiterated as a buy. It moved up nicely. Look for it to break out to the upside. Continue to use the T-line as your stop. 6/11 It moved up nicely on Thursday and broke out through the recent high levels. A call option strategy would be to buy the July 7 50 for 35 cents. It could move up to the $10 range fairly quickly which would result in some big money from the 35 cent calls. 6/12 It consolidated and didn't close below the T-line but did form a Bearish Harami. It needs to stay up above the T-line to continue to hold. 6/15 It's still moving up nicely. Use a close below the T-line as your stop. 6/16 It held up. Continue to hold. Use the T-line as your stop. 6/17 It pulled back a little bit but it was nothing to change the upward trajectory. Continue to hold. Use the T-line as your stop. 6/18 It closed just below the T-line. It will be closed out if it opens lower. It needs to open higher and trade higher on Friday to stay in it. 6/19 It held at the T-line. Continue to hold. 6/22 It should have been closed out as it closed below the T-line on Monday.

6/9 Bought SPPI on the positive trading. It consolidated early but was bought as it came back up through Monday's close. It's forming a J-Hook pattern. It can still be bought on positive trading on Wednesday. 6/10 It backed off. It needs to open higher and trade higher. Otherwise, it will come back down to test the T-line. 6/11 It consolidated on Wednesday and came back up on Thursday. Continue to hold. 6/12 It moved up nicely. It's still in a nice uptrend. Continue to hold. Use the T-line as your stop. 6/15 It's still moving up nicely. Continue to hold. Use the T-line as your stop. 6/16 It had a severe pullback and formed an Evening Star type signal but didn't close below the T-line. If it trades below Tuesday's low of $5.54, close out the position. 6/17 It stayed up above the T-line with indecisive trading. Wednesday's trading should only be a pullback in an uptrend. Use a close below the T-line as your stop. 6/18 It's still in a nice slow uptrend. It looks like it's in a Cup and Handle type situation. 6/19 It continues to move up. Continue to hold. It can be bought aggressively on a positive open on Monday. 6/22 It consolidated but stayed up above the T-line. Continue to hold. Use the T-line as your stop. 6/23 It should have been closed out on Tuesday, especially when it came back down through the T-line. It should have definitely been closed out on the close.

6/24 Bought SOA. It opened positive but immediately started selling off. It should have been closed out on the close with it closing below the T-line. It still has a strong signal but it needs to break through the 200 day moving average. At this point we would not buy it until it comes up through the $6.02 level, which was Wednesday's high.

6/24 FUQI was not shorted. It opened higher and stayed up above the T-line all day. It can still be shorted if it comes back down through the 20 day moving average at around the $15.80 area.

6/12 TRMB was not bought. It came down and touched the T-line. However, it can be bought on a positive open on Monday. If it can break out through the recent high levels, it will move up another four to five points from here.

6/12 ARB was not shorted. Now watch for a Scoop type pattern. This now may become a buying opportunity in the next day or so.

6/15 AMLN was obviously not bought on Monday as it opened lower and with the market trading down as much as it was. It could still potentially break out through the 200 day moving average but it needs to come up through the 200 day moving average before buying it. We would rather pay $12 for the stock knowing that it has broken through the 200 day moving average.

6/15 CBG was not bought. It had the opportunity to break out but it opened lower and headed down.

6/11 Bought TRW on the positive trading on Thursday. It closed lower but at worst we anticipate that it will form a little Cup and Handle type pattern. We don't want to see it close back below the T-line. 6/12 It held up above the T-line. Look for it to open positive. If it opens positive on Monday, it can be bought immediately. 6/15 It should have been closed out as it closed below the T-line.

6/9 Bought ABM on the positive trading on Tuesday. It pulled back but still closed above our stop which was $18.72. It needs to open higher and trade higher to stay in it. 6/10 It opened higher and traded higher but backed off. It definitely needs to have a positive open on Thursday to stay in it. 6/11 It closed a little bit above the support level. It needs to open higher and trade higher to stay in it. If it closes below the recent lows, close out the position. 6/12 It has now come all the way back down and touched the T-line. It needs to open positive on Monday to stay in it. If it opens positive on Monday, it can be bought aggressively. 6/15 It should have been closed out as it closed below the T-line. It can always be bought back on the next buy signal.

6/5 Bought FAS on the positive open. It closed back down on the 2 day exponential average, which doesn't really mean anything, but it didn't close more than halfway down Thursday's bullish candle. Continue to hold. We'd like to see it open positive and trade positive. If it pulls back, it shouldn't close below the T-line. 6/8 It closed a little higher on Monday, up 14 cents. The Rounded Bottom pattern is still in effect. Be ready to buy this again on a positive open on Tuesday. 6/9 It moved up a little bit more on Tuesday. We're still waiting for this to break out to the upside. 6/10 It backed off and closed right at the T-line. It needs to trade up higher on Thursday to stay in it. 6/11 It held up above the T-line. If it opens higher on Friday, it can be bought immediately. 6/12 We were expecting this stock to open stronger with the banks showing some strength on Friday, but continue to hold this as long as it stays above the T-line. 6/15 Even with some of the banks acting strong, it closed below the T-line. It should have been closed out.

6/5 Bought X on the positive open. It came back down near the close. If it opens positive on Monday, it can be bought aggressively. Use the T-line as your stop. 6/8 It backed off but formed a Doji that closed above the T-line. If it opens positive on Tuesday, it can still be bought. 6/9 It's still moving in the right direction. It had a nice gap up on Tuesday off the Doji on the T-line. It still has more upside potential. If it breaks through the 200 day moving average, it has a lot of running room. 6/10 It continues to move up very nicely. Now watch to see what it does when it gets to the 200 day moving average. 6/11 It closed above the 200 day moving average. It's still in a nice slow uptrend. Continue to hold. Use the T-line as your stop. 6/12 It may be running into some resistance at the 200 day moving average. As long as it stays above the T-line, continue to hold. It may just be sluggish here at the 200 day moving average before it can break through. 6/15 It should have been closed out as it closed below the T-line.

6/1 Bought BTU on the positive open. Notice it gapped up and formed a Doji right at the resistance level. When it gapped up again after the Doji, it told us it was moving in the direction of how it opened. It has very strong prospects of getting up into the $40 to $45 area. You might want to take a look at the June 36 calls as they are trading for $1.85, or you might consider selling the June 36 puts at $1.90. Both of these should work out fairly well. 6/2 It showed some indecisiveness. It needs to open higher and trade higher on Wednesday to stay in it. We don't want to see it trade below Tuesday's low of $34.76. If it comes down through there, you will probably want to close out the position and see if it will support on the T-line. 6/3 It pulled back. If it closes below the T-line on Thursday, close out the position. 6/4 It opened higher and used the T-line as support. It can be bought aggressively on positive open on Friday. 6/5 It's still in a slow steady uptrend. Continue to hold. Use the T-line as your stop. 6/8 It needs to open higher and trade higher to stay in it. 6/9 It couldn't close below the T-line. It's setting up for a nice breakout situation. 6/10 It used the T-line as support and came back up. Look for it to move higher. It can be bought again on a positive open. 6/11 It held up well. Continue to hold. 6/12 It consolidated and made the uptrend slower. If it trades back below Friday's low of $35.12, close out the position. 6/15 It should have been closed out on the gap down open on Monday.

6/16 NTY was not bought . It opened, hovered for awhile, and then started trading off. It never really showed any signs of strength. If you did buy it, it should have been closed immediately or definitely by the end of the day.

6/12 Bought FITB on the positive trading. We're recommending it again for Monday if you want to buy the July 9 calls for 30 cents. If this one breaks out, it should go much higher. 6/15 Continue to hold. 6/16 It should have been closed out as it closed below the T-line on Tuesday. If it's forming a Cup and Handle pattern, we can always buy it back on strength.

6/4 Bought MV. It opened lower but came back up. If you bought it, continue to hold. If you didn't buy it, be ready to buy it on a positive open on Friday. It should be coming out of the Fry Pan Bottom pattern and moving much higher. 6/5 It might be getting a little bit toppy. If it trades at all below the T-line at around the $26.35 level on Monday, close out the position. It should be continuing higher and breaking out but it's losing some steam. 6/8 It consolidated but formed a Doji at the top end of the trading range. This can be bought if it opens positive on Tuesday. We don't want to see it close below the T-line. 6/9 It's getting ready to break out. It's staying above the T-line. We'd like to see a strong day where it breaks out from this level. 6/10 It's still in a nice slow uptrend. It can be bought aggressively on a positive open on Thursday. 6/11 It didn't do anything to change the upward trajectory. Use a close below the T-line as your stop. 6/12 It opened lower and traded down but came back up and closed right on the T-line. This makes the decision very simple. If it opens positive on Monday, continue to hold. If it opens negative on Monday, close out the position. 6/15 It closed right at the T-line. It needs to open higher to stay in it. 6/16 It should have been closed out as it closed below the T-line. It formed a Bearish Engulfing signal after a sell signal.

6/17 NG was not bought. It opened and immediately traded lower, so it's still in a downtrend.

6/11 Bought CENX on the positive open on Thursday. It did exactly what we expected after the gap up from the Doji on the previous day. Continue to hold. We're anticipating that it will break out through the recent highs and move up to the 200 day moving average. 6/12 It consolidated but closed near the high end of the trading range on Friday. If it opens positive on Monday, buy it aggressively. We're still looking for the 200 day moving average to be the next target. 6/15 It pulled back a little bit but showed some strength during the day, so continue to hold it as long as it doesn't close below the T-line. 6/16 It closed right on the T-line. It needs to open higher and trade higher to continue to hold. 6/17 It should have been closed out on Wednesday as it closed below the T-line. Now it may be forming an inverted Scoop pattern.

6/18 TCK was not shorted. It did not open lower.

6/18 ZION was not shorted. It opened positive and stayed positive all day long. It can still be shorted if it comes back down through the lows of Wednesday and Thursday.

6/16 Shorted GMT as it came back down through the previous day's close. Continue to stay short. It should be heading toward the $20 to $19 area. 6/17 It popped up and came back down. It needs to open lower and trade lower. If it opens positive on Thursday, close out the position. 6/18 It opened higher and started trading up. It should have been closed out even though it had a Doji type day. It can still be shorted if it comes back down through Thursday's low of $23. If it doesn't break down significantly on Friday, you probably shouldn't short it again.

6/4 Shorted MTL as it traded lower on Thursday but it closed near the T-line. If it opens higher on Friday, close out the position immediately. To stay short, it needs to open lower and continue to trade lower. 6/5 It should have been closed out on Friday as it gapped up and traded mostly higher. That does not show signs of weakness. However, it can be shorted again, especially if it comes down through the $10.26 level. That would tell us the Bears are still in control of this trend.

6/8 NTY was not bought on Monday but can still be bought on a positive open on Tuesday. There wasn't any massive selling so we're still waiting for the profit-taking to end. We would definitely be buying this if it comes up through Monday's high of $28.05.

6/4 Bought AMAG on the positive open on Thursday. It came back down and closed at the lower end of the trading range, below the T-line. It should be closed out if it opens weaker on Friday. It needs to open higher and trade higher, which has a high probability of happening since it's coming out of a Fry Pan Bottom pattern. 6/5 It consolidated but didn't do anything yet to tell us the little Cup and Handle type formation isn't still in progress. Use a close below the T-line as your stop. 6/8 It was closed out on Monday as it closed below the T-line.

6/3 Bought UNFI on the positive open on Wednesday. It traded up most of the day but then faded off a little bit at the close. It's still in a nice uptrend. Continue to hold. It has formed somewhat of a Scoop pattern even though the "handle" isn't flat. The good strong gap up is making this one worthwhile. We're looking for a lot more upside movement. 6/4 Continue to hold. It's still moving up nicely off the big Scoop type gap up. 6/5 It's getting toppy but is still moving sideways. Use the halfway point of Tuesday's large bullish candle or the T-line at around the $25.50 area as your stop. You can even use a close below Friday's low as your stop. That would tell us it was definitely coming back down to test the T-line. 6/8 It was closed out on Monday as it closed below the lows of the previous three days. This shows that it will probably come down to test something, but there's no reason to hold onto it while that's happening. You should be out of this but if you're still in it, close it out if it opens weaker on Tuesday. It's probably going to support on the T-line but we don't know for sure.

6/10 NUAN was not bought. It opened positive but immediately started trading lower on Wednesday. However, it can still be bought if it comes back up through the $14.26 level on Thursday. It's still moving in the right direction and didn't form a true sell signal. Be a buyer at $14.26 or above.

6/10 CE was not bought. It opened higher but immediately started trading off. It came all the way down and bounced off the T-line. It can be bought on Thursday, especially if it comes back up through Wednesday's open of $23.61. If it comes up through that area, it can be bought aggressively.

6/1 Bought TNS on the positive open. It gave back most everything but it can be bought on a positive open. We don't want to see it close more than halfway down Friday's bullish candle at around the $18 area. 6/2 It consolidated right back to the T-line on Tuesday. It had a Doji type day. If it opens higher on Wednesday, you will want to buy it immediately. We don't want to see it close below the T-line. 6/3 It's still holding up. It's using the T-line as support. It can be bought on a positive open on Thursday. 6/4 This can be bought again on a positive open on Friday. 6/5 It's still holding up fairly well in its new wave up. Continue to hold as long as it doesn't close below the T-line. If you haven't bought it yet, be ready to buy it aggressively if it gaps up on a positive open on Monday. 6/8 It closed above the T-line. It needs to trade higher to continue to hold. 6/9 It needs to break out pretty soon. If it doesn't pop in the next day or so, we're going to have to take the money off and move it somewhere else. 6/10 It should have been closed out on Wednesday as it closed below the T-line. It needed to show strength but didn't after five or six days of trading sideways.

6/11 LULU was not bought. It obviously opened in the wrong direction.

6/2 ADCT was not bought. However, this can still be bought on a positive open on Wednesday.  It's still working very nicely coming out of the J-Hook pattern.

6/2 LULU was not bought on Tuesday but can be bought on Wednesday if it goes up through the $14.50 level.

6/3 BOOM was not bought on Wednesday. It opened lower and traded lower. It can still be bought if it comes back up through the $20.70 area. That would tell us the Bulls are back in control and breaking the J-Hook pattern out.

6/4 TC was not shorted. It didn't open lower and moved up immediately. It's still in an uptrend. Now it can actually be bought on a positive open on Friday.

6/4 CRZO was not shorted. It opened higher. It shouldn't be shorted unless it comes back down through Wednesday's low or the 20 day moving average at around the $19.65 level.


 

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