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Steve's Trading Diary - January 2006

1/27 Bought PSSI, continue to hold. 1/30 continue to hold. 1/31 anticipate seeing new strength on Wednesday, continue to hold. Now use a close below $16.90 as your stop. 2/1 it still continued higher after the Kicker signal, continue to hold. 2/2 it's still trading at the top of the trading range, continue to hold. 2/3 it's staying at the top end of the trading range, continue to hold. 2/6 it's still trading flat after a big move to the upside, continue to hold. 2/7 it came back down through the level that would indicate that it's starting to sell off. Still use a close below the $16.90 level as your stop. 2/8 it formed a Bullish Harami which stopped the selling of Tuesday. Look for it to start moving back up. It's still trading at the same level as the top of the big white candle. Continue to use a close below $16.90 as your stop, the halfway point of the large white candle. 2/9 it's getting a little bit toppy. If it doesn't show any strength and if it closes below the $16.90 level, close out the positon and wait for the next buy signal. It needs to open and trade higher on Friday very quickly. 2/10 it's still consolidating and formed a nice Doji. Still use a close below the $16.90 level but expect to see some buying now that it appears as if the selling has stopped. 2/13 it's still holding up fairly well. It needs to see strength from here to continue to hold. Any lower trading on Tuesday, especially below $17, warrants closing out the position. 2/14 it's starting back up. This one is still being affected by the Kicker signal. Continue to hold this position. 2/15 it needs to open and trade above Wednesday's high on Thursday to continue to hold. If it trades lower and closes lower, close out the position. 2/16 it's still in an uptrend, continue to hold. 2/17 it's not showing any strength. Be ready to close this one out on a weaker open on Tuesday or on any other weakness. This one needs to close above Friday's close to continue to hold. 2/21 it closed above Friday's close, continue to hold. 2/22 it's still congesting, continue to hold. Now use a close below $17.25 as your stop. 2/23 it's not showing strength, still use a close below the $17.25 level as your stop. 2/24 still use a close below the $17.25 level as your stop. 2/27 it's still trying to move up. It didn't close below the $17.25 level, continue to hold. Still use the $17.25 level as your stop loss. 2/28 it's still trading flat. Be ready to close this one out on any weakness. Still use a close below the $17.25 level as your stop. 3/1 it's still trading flat, continue to hold. Still use a close below the $17.25 level as your stop. 3/2 it's starting back up. Look for it to break out through the $18 level. 3/3 it's still trying to form somewhat of a Fry Pan Bottom after the Kicker signal of a month ago. If it breaks out through the $18 range, start buying it aggressively. 3/6 it's starting to show weakness. Be ready to close this one out on any signs of weakness on Tuesday or on a lower close. 3/7 it came back up and is forming a Fry Pan Bottom. Be ready for a breakout to the upside. 3/8 it traded above the recent high level. It needs to show strength on Thursday. Use a close below $17.75 as your stop. 3/9 it's getting a little bit toppy. It needs to break out. If it trades below Thursday's low of $17.79, close out the position. 3/10 it's still moving out of the Fry Pan Bottom, continue to hold. 3/13 it's still coming out of the Fry Pan Bottom nicely, continue to hold. 3/14 it's still moving up out of a Fry Pan Bottom, continue to hold. 3/15 it's still coming out of a nice Fry Pan Bottom, continue to hold. 3/16 it formed a Dark Cloud/Tweezer Top on Thursday with the stochastics in the overbought area and starting to roll over. You will want to close out half of the position on any trading below $19 and close out the full position if it closes below $19. 3/17 this one should have been closed out on the weakness, especially after it closed below the $19 level.

 

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