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Steve's Trading Diary - February 2006

2/22 Bought LDG on the positive open. It continued higher, continue to hold. 2/23 it acted strong, continue to hold. 2/24 it consolidated a little bit on Friday but it didn't do anything to change the upward ditrection. 2/27 it's still in a nice uptrend, continue to hold. Now use a close below $38.70 as your stop. 2/28 it's showing a little bit of consolidation. Use a close below $38 as your stop. 3/1 it's still in a good uptrend, continue to hold. 3/2 it had a nice gap up through the 50 day moving average and closed higher on Thursday. It had a big upper shadow but it's nothing to deter the uptrend, continue to hold. 3/3 continue to hold. 3/6 this one needs to show strength on Tuesday. If it closes weaker on Tuesday, close out the position. 3/7 it consolidated but formed a little Inverted Hammer. Now use any trading below $42 as your stop. This one needs to trade higher immediately on Wednesday to continue to hold. 3/8 this one did trade higher, continue to hold. This is now a good-looking chart. 3/9 it's still in an uptrend. It may be running out of steam. Continue to use your stop. 3/10 it hasn't shown anything to demonstrate weakness, continue to hold. Now use a close below Friday's low of $42.25 as your stop. 3/13 it's still in a nice uptrend, continue to hold. 3/14 it consolidated on Tuesday but the uptrend hasn't changed yet. 3/15 it's consolidating but not with any change of direction, continue to hold. 3/16 it's still in a slow uptrend, continue to hold. 3/17 it's still moving higher, continue to hold. 3/20 it's still in an uptrend, continue to hold. 3/21 it's still in the upward trading channel, continue to hold. 3/22 it's still in a slow uptrend, continue to hold. 3/23 it's continuing its uptrend, continue to hold. 3/24 it's still in a slow uptrend, continue to hold. 3/27 it's still in an uptrend, continue to hold. However, it's in the overbought area, start watching for a major sell signal. 3/28 it's getting a little bit toppy but it's nothing yet to change the uptrend. Continue to hold and now use a close below the $45.30 level as your stop. 3/29 it opened higher and had a big trading day. If you see a couple of more big trading days, start watching for a candlestick sell signal. 3/30 it's still in a slow uptrend. It formed a bearish Harami on Thursday. Be prepared to take profits if it trades down through the low of the last white candle at approximately $45.80. 3/31 it's still in a slow uptrend, continue to hold. 4/3 it started backing off out of the trend. This one was closed out on the trading below the $45.80 level.

2/6 Bought THS on the positive open. It pulled back near the end of the day, forming a Doji-type signal. However, the stochastics are still in an uptrend, continue to hold. Now use a close below Monday's low of $20.30 as your stop. 2/7 it didn't trade any weaker, continue to hold. Anticipate that it might trade flat for a couple of days and then start moving back up. 2/8 it consolidated but it's still near the top of the Fry Pan Bottom area. Be prepared to buy on strength. Use a close below $20.30 as your stop, which would also create a bearish candle. Anticipate a breakout to the upside. 2/9 be ready to buy this on any breakout to the upside, especially above the $21 level. This one is about ready to break out from the Fry Pan Bottom area. Use a close below $20.30 as your stop. 2/10 it formed a little Bullish Engulfing signal. It may now be starting back in its upward trend. Be prepared to buy it on strength again but be careful of volume. This is a very low volume stock. 2/13 it's still trading flat at the top of the trading range. If it trades below Monday's low of $20.40, close out the position. 2/14 it pulled back but came right back up into the trading range. This did some trading below the $20.40 level. If you closed out the position, buy it only if it trades up above $21 a share. 2/15 this one broke out on Wednesday, continue to hold if you own it. It was a nice breakout but it formed a long-legged Spinning Top on Wednesday. This needs to see strength immediately to continue to hold. 2/16 it didn't show any strength but didn't show any weakness. Expect higher trading on Friday and higher trading after that, continue to hold. 2/17 it's still consolidating and has not pulled back. Now use a close below $21.25 as your stop. 2/21 it's still slowly trading upwards. Continue to use the $21.25 level as your stop. 2/22 it's still moving in a positive direction, continue to hold. 2/23 it's still in a slow uptrend, continue to hold. Use a close below Thursday's low of $21.80 as your stop. 2/24 there's nothing to show any reversal of trend, continue to hold. 2/27 it's still in a nice steady uptrend, continue to hold. 2/28 it's still in an uptrend, continue to hold. 3/1 it's still in a nice uptrend, continue to hold. 3/2 it had a big strong up-day with a gap-up in the overbought area. Be prepared to start taking profits on a candlestick sell signal. 3/3 it's still moving up nicely. Look for it to fill the gap. Be prepared to start taking profits. 3/6 it's still showing indecision, be ready to take profits. 3/7 it gapped up and is still in an uptrend but now use a spot that would tell us that the Bears had taken control, probably at the $25.50 level, as your stop. Any trading below that level would indicate that the Bears are in control. 3/8 it's still looking a little bit toppy but continue to hold. Now use any trading below $25.50 as your stop. 3/9 it moved higher on Thursday, continue to hold. 3/10 it showed a Bearish Harami on Friday. If it opens lower, take profits immediately but watch for a J-Hook pattern after that. 3/13 continue to hold. 3/14 it's having a hard time coming up through the $26.65 level. Be ready to take profits on any lower trading on Wednesday. 3/15 it opened lower. You should have taken partial profits. Now it has traded back up to where it was almost unchanged on the day. This would be a situation where, as you saw it open lower, you might have taken off half of the position and waited to see what the rest of the day's trading was going to do. 3/16 it's still getting toppy. It formed a little Shooting Star-type signal on Thursday. If you're out of half of the position, be ready to close the other half on any signs of weakness on Friday. 3/17 it's getting a little bit toppy. Now use any trading below $26.30 as your stop. This needs to show strength. Otherwise, it's time to take profits. 3/20 you should have taken profits on the trading below the $26.30 level on Monday.

 

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