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Steve's Trading Diary - July 2010


7/29 Bought BMTI on the positive trading on Thursday. It formed a Doji but notice that it supported off the T-line and resisted at the 20 day moving average. If it opens positive on Friday, you can still be buying it. We don't want to see it close below the T-line. 8/6 It should have been closed out with the gap down below the T-line. It can always be bought back if it opens positive on Monday.

7/28 Bought ROIAK on the positive trading. It used the T-line as support and closed as a Doji right on the 20 day moving average. If it opens positive on Thursday, you will want to be a buyer. 7/29 It closed a little bit lower, right on the T-line. It needs to open higher and trade higher to stay in it. If it closes below the T-line, close it out. 8/6 It should have been closed out with the close below the T-line.

7/26 Bought DCTH. It moved up nicely on the gap up open. It can still be bought on positive trading on Tuesday while using the T-line as your stop. 7/27 It consolidated but it's in a situation where, if it opens positive on Wednesday, you will want to buy it immediately. Use the T-line as your stop. 7/28 It pulled back and closed right on the T-line. It has to open higher and trade higher on Thursday for us to stay in it. If it opens lower, close out the position. It will then probably come back down to test the 200 day moving average. 7/29 It's staying above the T-line. Continue to hold and use the T-line as your stop. 8/6 It should have been closed when it closed below the T-line during the past week.

7/23 Bought UIS on the positive trading. It had a very nice day. Continue to hold.  It could possibly move up to the 200 day moving average. 7/26 It can be bought again on positive trading on Tuesday. Notice the Doji. If it opens positive, it should move up hard. Continue to hold and use the T-line as your stop. 7/27 It moved up very strong on Tuesday. We're still looking for the 200 day moving average as the target. 7/28 It consolidated a little bit but held up. This can still be bought if it opens positive on Thursday. 7/29 It's still moving up slowly. Continue to hold. The 200 day moving average is still the target. 8/6 It should have been closed out with the close below the T-line last Thursday.

7/21 Bought IDT on the positive open on Wednesday. It pulled back a little bit. We're in a whipsaw market. If this opens lower on Thursday, close it out immediately. Then we'll have to wait to see what it does from there. 7/22 It opened higher and continued higher. This is exactly what we were looking for. Continue to hold this on the J-Hook pattern. 7/23 It continued to move up nicely. Continue to hold. 7/26 It formed a nice J-Hook pattern and is breaking out nicely. Continue to hold. 7/27 It pulled back but didn't form a sell signal. Even though it formed a Dark Cloud type signal, it didn't open above the previous day's trading. Give it another day. Don't let it close below the T-line. 7/28 It's moving up slowly. Nothing is indicating yet that we should sell it. Still use the T-line as your stop. 7/29 It moved up. It can be bought again on a positive open on Friday. 8/6 If you closed it out on the close below the T-line last Wednesday, be ready to buy it again after the Bullish Harami above Friday's high at $29.25. The T-line was obviously acting as support.

7/29 Bought FCEL on the positive trading on Thursday. It can still be bought if it opens positive on Friday, at anything above $1.41. That would tell us the Bulls are in control. Use the T-line as your stop. 8/6 We're using the T-line as our stop. It closed right on the T-line. It needs to open positive on Monday to stay in it. 8/9 It should have been closed out on Monday because it came back down and closed below the T-line. It has run out of steam.

7/29 Shorted GFQ0. It came down nicely on Thursday. We're still anticipating it will come down to the 200 day moving average. 8/6 Stay short. We don't want to see it close above the T-line. It's now sitting right on the 50 day moving average. If it opens lower, it still has the possibility of moving all the way down to the 200 day moving average. 8/9 It should have been closed out as it came back up through Friday's open.  It's forming somewhat of a Morning Star signal. It may now be considered as a buy if it opens positive on Tuesday.

7/29 Bought CASY on the positive trading on Thursday. It's coming out of a Fry Pan Bottom pattern. This can still be bought. There should be a lot of upside potential in this one. 8/6 It's still in a slow uptrend. It's getting toppy. At this point we don't want to see it trade at all below the T-line. If it comes back down through that level, it tells you that sellers are in control. 8/6 It stayed above the T-line. It needs to move up strong. If it trades below the T-line, you'll want to close it out immediately. 8/9 It stayed above the T-line. It needs to move up strong. If it trades below the T-line, you'll want to close it out immediately. 8/10 It backed off and closed below the T-line. Normally we would have closed it out but since it was an indecisive trading day, we will give this stock one more day. It needs to open positive and trade positive to stay in it. 8/11 If you didn't close it on Tuesday, it should have been closed out on Wednesday on the weaker trading. It couldn't get back up through the T-line.

7/28 Bought PVTB. It opened and traded higher on Wednesday. It's coming off the Kicker signal. Continue to hold. 7/29 It stayed up above the 200 day moving average. It consolidated a little bit. Continue to hold. It's still coming off a Kicker signal. 8/6 It pulled back but still hasn't closed below the T-line. It supported on the 200 day moving average. If it opens positive on Monday, it can be bought. It would be forming a J-Hook pattern. 8/9 It needed to open higher and trade higher, which it did. Continue to hold. The volume is relatively low but it's still all right. 8/10 It backed off a little bit but stayed above the T-line. It needs to open positive. 8/11 It should have been closed out immediately on the gap down below the T-line on the open.

7/26 Bought IOC. It started off lower but then came back up. Continue to hold. We would still be buying this on a positive open on Tuesday. 7/27 It's still slowly moving up. We're looking for the 200 day moving average to be the target. 7/28 It's continuing its slow uptrend toward the 200 day moving average. Continue to hold and use the T-line as your stop. 7/29 It came up nicely. Continue to hold. It's at a first resistance level. If it shows any weakness on Friday, close out half the position immediately. 8/6 It's continuing in its uptrend. Continue to hold. 8/9 It opened positive. If it opens positive on Tuesday, you can still be a buyer. 8/10 It's still staying above the T-line. Notice that when it gapped up in the overbought area, it never closed back down below the low of the gap-up candle. Continue to hold until you see a sell signal and a close below the T-line. 8/11 It formed a weak signal but didn't close below the T-line. It should have been closed out with it opening lower. However, keep an eye on it. If it can't close below the T-line and starts showing some strength, you will probably want to be buying it back.

7/23 Bought EW. It's working well after the Kicker signal. Continue to hold until you see a sell signal. 7/26 It's still working, especially after the Kicker signal. Continue to hold. 7/27 Some profits were taken on Tuesday but it was nothing yet to change the uptrend after the Kicker signal. 7/28 It pulled back a little bit. Just use the T-line as your stop. Remember, this is still coming off a Kicker signal. 7/29 It needs to open higher and trade higher to stay in it. It closed right on the T-line. Close out the position on any trading below that level. 8/6 It couldn't do anything decisive below the T-line. It formed a Bullish Engulfing signal with a left/right combination. It can be bought on a positive open on Monday. 8/9 If it opens positive on Tuesday, you can be a buyer. Use the T-line as your stop. 8/10 It's still rounding out and staying above the T-line. Continue to hold as long as it doesn't close below the T-line. 8/11 It should have been closed out with it closing below the T-line. However, it didn't do anything really aggressive so it can be bought back if it moves back up through the T-line. It's still coming off the previous Kicker signal.

7/14 Bought RES. It broke out very nicely on Wednesday. It had some good profits. Continue to hold until you see a sell signal. 7/15 It backed off a little bit but didn't do anything that showed a change in investor sentiment. It was merely profit taking. We wouldn't want to see it trade back below Thursday's low of $15.38. That would tell us it's probably coming back down to test the T-line. 7/16 It didn't do anything that would have warranted closing the position other than the fact that it traded weak. It didn't trade below the T-line but it needs to open higher and trade higher on Monday to stay in it. If it opens lower, close out the position immediately. 7/19 It's still holding out reasonably well. It has now traded below the halfway point of last Wednesday's large bullish candle twice. It's still above the T-line but if it shows weakness on Tuesday, close out the position. We can always buy it back if it shows support over the next couple of days. 7/20 It couldn't close below the T-line. Be ready to buy this on a positive open on Wednesday. If you own it, continue to hold. 7/21 It started back up. It gapped up and came back down to the lower end of the trading range. At this point continue to hold and put a stop at Tuesday's close. If it comes back down through there, it would show too much weakness for this uptrend. 7/22 It opened higher and continued to trade higher. It formed another Doji so it needs to open higher and trade higher on Friday. 7/23 It's moving up well. It's coming out of the Fry Pan Bottom/J-Hook type pattern. Continue to hold. 7/26 It's still moving up nicely off the J-Hook pattern. Continue to hold. We have some good profits in this one. 7/27 We might be seeing some profit-taking going on. At this point use Tuesday's low as your stop. If it comes back down through there, stop out and wait for the next buy signal. 7/28 It consolidated nicely but then traded up. Continue to hold. 7/29 It's getting toppy. It stayed above the T-line but if it opens lower on Friday, close out the position. It needs to open higher and trade higher. 8/6 It needs to open positive to stay in the position. 8/9 It needed to open positive and trade positive, which it did. Continue to hold as long as it stays above the T-line. 8/10 It's still in a nice, slow, steady uptrend. Continue to hold. Use the T-line as your stop. 8/11 It should have been closed out immediately on the lower open.

7/26 SBAV0 was not shorted. We would have shorted this if it opened weaker after the Doji, but it didn't.

7/27 TIVO was not bought. However, if it comes back up through Tuesday's high at the $9.27 level, you will definitely want to be a buyer. It has an obvious potential to break out to the upside.

7/27 Bought KG. It traded indecisively. We have reiterated this as a buy for Wednesday if it opens positive. It's coming out of a big Fry Pan Bottom pattern. Still use the T-line as your stop. 7/28 It should have been closed out on Wednesday as it closed below the T-line.

7/23 Bought THO as it came up through the 50 day moving average at the $28 level. It can still be bought. A nice J-Hook pattern is setting up. It should come up to the 200 day moving average and possibly higher. Continue to hold and use the T-line as your stop. 7/26 Continue to hold. We're looking for it to move to the 200 day moving average and possibly higher to fill a previous gap. 7/27 It took a big drawback on Tuesday. It's not in the overbought area. It formed a Bearish Engulfing signal and stayed above the T-line. This is the type of situation where you have to give it one more day. It needs to open positive and trade positive to stay in it. If it opens lower on Wednesday, close out the position. 7/28 It should have been closed out on Wednesday as it opened weaker and traded below the T-line. However, keep an eye on it. If it does a buy confirmation from here, you will want to repurchase the trade.

7/22 Bought PWER on the positive trading on Thursday. It continued to move higher. Continue to hold. It's forming a J-Hook pattern after the breakout from the Pennant formation. 7/23 It's still moving nicely in the J-Hook pattern. Continue to hold until you see a sell signal. 7/26 It's still in a nice, slow, steady uptrend. Continue to hold. 7/27 It consolidated back to the T-line and came back up. It needs to open higher and trade higher on Wednesday to stay in it. If it opens lower and starts trading down, close out the position and wait for the next buy signal. 7/28 It should have been closed out on the weaker open on Wednesday. However, if it opens positive on Thursday, buy it immediately. It formed an Inverted Hammer.

7/26 Bought ATHN on the positive trading. Notice the gap up. It's still very strong. If it opens positive on Tuesday, you will still want to be a buyer. We don't want to see it close below Friday's low where it gapped up. 7/27 It moved up nicely again on Tuesday. Continue to hold. The gap up should cause a good steady move to the upside. 7/28 It consolidated a little bit on Wednesday but didn't do anything to indicate a reversal. Continue to hold. Use the T-line as your stop. 7/29 It should have been closed out as it came down below the recent lows. Be ready to buy it back if it bounces off the T-line.

7/21 Bought CSIQ on the positive trading on Wednesday. It stayed up. It can still be bought on a positive open on Thursday. Apparently there is some strength in the solar stocks. 7/22 Even though it backed off from where it opened, it's still in an uptrend. Continue to hold and use the T-line as your stop. 7/23 It's moving up nicely. It consolidated a little bit on Friday but it wasn't anything major. Continue to hold. 7/26 It's still in a slow, steady uptrend. Continue to hold as long as it doesn't close below the T-line. 7/27 We knew it was getting "iffy" at this level. It did close right on the T-line. If you didn't close it out on Tuesday, it needs to open higher and trade higher to stay in it. 7/28 It closed right on the T-line. It needs to open higher and trade higher immediately to stay in it. 7/29 It should have been closed out as it traded below the T-line.

7/16 GRS was not bought on Friday on the lower trading. It opened lower and traded lower. The only way to buy this one now is if it comes back up through Thursday's close.

7/16 AONE was not bought. Even though it opened higher, it immediately started selling off with the market in general selling off.

7/15 Bought STEC on the positive trading on Thursday. It pulled back and closed a little bit lower but it's still right on the 200 day moving average. If it opens positive on Friday, you will definitely want to be a buyer. If it opens and starts trading sideways, it's waiting for the T-line to catch up. 7/16 It should have been closed out immediately as it opened lower after the Doji below the 200 day moving average and closed at the T-line. Now this is an excellent opportunity to go short if it opens weaker on Monday.

7/14 Bought VVUS on the positive trading on Wednesday. It whipsawed quite a bit on Wednesday but remember it's coming off the Kicker signal. The Kicker signal tells you there has been a dramatic change in investor sentiment. We're still looking for this to move positive. We wouldn't want to see it come back down below Wednesday's low at $11.50. That would show too much weakness in the stock. 7/15 This gave us some bad news. It appears it will open much lower. The company still needs more information for whatever they were trying to get approved. We will need to watch how this opens on Friday to figure out how to play it from here. 7/16 It gave us bad news. It gapped down and should have been closed out as it was trading lower all day. The only way to have stayed in it is if it had started moving up and formed a huge bullish candle to the upside. That would have told us the Bulls had stepped back in.

7/14 Bought XIDE. It had a nice day. It's probably coming up to at least test the 200 day moving average. Wave three should move it up to the $10 range. Continue to hold until you see a sell signal. 7/15 It consolidated a little bit. It can still be bought if it opens positive. If it pops, it will come up and test the 200 day moving average. If it breaks out through the 200 day moving average, it will have a lot of running room. 7/16 It should have been closed out on the lower open. It needed to trade flat or positive to stay in it. The fact that it gapped down in the overbought condition after a Doji told us to get out of it immediately.

7/13 Bought DPS. It opened positive with a gap up. This one can still be bought. It will probably move to the $45-$47 range fairly quickly. 7/14 It's still working nicely coming out of the rounded waving bottom. It can still be bought on a positive open. 7/15 It consolidated but it's still in the rounded pattern. Continue to hold as long as it stays above the T-line. 7/16 With the market getting weak after indecisive trading days on Tuesday, Wednesday, and Thursday, the lower open told us it was time to get out of this position.

7/12 Bought PCYC as it traded positive on Monday coming out of the Fry Pan Bottom pattern. However, it came back and closed as a Doji/Shooting Star. The trajectory didn't change but it definitely needs to open positive and trade positive on Tuesday to keep holding it. If it opens lower, we will probably close out the position, wait for it to possibly bounce off the T-line, and buy it back on the next buy signal. 7/13 It opened positive. It can still be bought on positive trading. It's in a Fry Pan Bottom breakout. 7/14 It consolidated. We suspect that it's moving sideways until the T-line catches up. Use the T-line as your stop. 7/15 It backed off a little bit but stayed above the T-line. It needs to open positive and trade positive on Friday to stay in it. 7/16 It should have been closed. It formed somewhat of a bearish Scoop pattern. It can now be shorted on weakness Monday.

7/12 Bought CCME on the positive open. If it opens positive on Tuesday, we will definitely want to be a buyer. It has formed a Cradle pattern/Island Reversal, which should provide a slingshot effect to the upside. 7/13 It backed off on Tuesday but didn't close below Monday's low. Give it another day. If you see the buyers step in, you will want to be buying it aggressively. 7/14 Buy this aggressively on a positive open on Thursday. Notice that it stayed above the lows and closed right on the 20 day moving average. 7/15 It still can't close below the recent lows and it's staying above the T-line. If it opens positive on Friday, we will want to buy it immediately. 7/16 It should have been closed with it closing below the T-line.

7/7 Bought VQ immediately on the positive open. When we saw the markets opening positive and fulfilling the Inverted Hammer, it was time to buy aggressively. Continue to hold. It's setting up for a J-Hook pattern. 7/8 It consolidated but came right back up. It can still be bought on positive trading on Friday. 7/9 It needs to open higher and trade higher to stay in it. Otherwise, we're seeing a Hanging Man signal right at the same level where it topped out before. If this is an uptrend, it needs to show a positive candle on Monday. If it closes below the T-line, obviously we will get out of the position. 7/12 It closed down near the T-line. Give it one more day. It needs to open and trade positive to stay in the position. 7/13 It couldn't get below the T-line. It gapped up. We will want to be buying this on positive open because of the potential derivative Kicker type signal. 7/14 It must open positive and trade positive for us to stay in it. A close below the T-line would warrant closing out the position. 7/15 It stayed above the T-line. It can be bought on any positive trading on Friday. 7/16 It should have been closed with it closing below the T-line.

7/7 Bought GFA on the positive trading on the open. It's probably moving toward the 200 day moving average. Notice the gap up Doji signals at this level. That tells us the Bulls are getting into the stock with extensive enthusiasm. 7/8 It consolidated as expected. It can be bought on positive trading on Friday. 7/9 It used the T-line as support and came right back up. We're still looking at the 200 day moving average as the target. 7/12 It got a little bit soggy on Monday but it was nothing yet to change the upward trajectory. Continue to hold as long as it stays above the T-line. 7/13 After a bearish type day on Monday, it gapped up and formed a Doji. If it opens positive on Wednesday, you will want to buy it. It could spike. 7/14 It's still moving up nicely. Continue to hold. We're still looking for a target at the 200 day moving average. 7/15 It gapped up. Look for it to hit the 200 day moving average. If it reaches that level early on Friday, you might want to take off part of the position. 7/16 It should have been closed out on the weaker open after the gap-up Doji. The only way to have stayed in it is if it opened higher and traded higher.

7/7 Bought WL on the positive trading. It's setting up a Scoop pattern. Continue to hold and use the T-line as your stop. 7/8 It traded positive. If it opens positive on Friday, it can still be bought. 7/9 It's trying to set up a Scoop pattern. Stay in the position as long as it stays above the T-line. 7/12 It used the T-line as support. It can be bought aggressively if it opens positive on Tuesday. Use the T-line as your stop. 7/13 It's doing exactly what it should be doing. It's going toward the moving averages. 7/14 Like all the banking stocks, it backed off. However, it didn't close below the T-line. Give it one more day. It has to open positive and trade positive to stay in it. 7/15 It backed off but came back up. The financial stocks might get some "oomph" in them on Friday because of the Goldmans situation. If it opens positive on Friday, you will want to be a buyer immediately. 7/16 It should have been closed out immediately. Anytime you see a Hammer type signal right on a support level, it needs to open higher and trade higher the next day. If it opens lower, close it immediately. It tells you the Bulls had stepped back in but the next day the Bears were still there and it was time to be out of the position.

7/6 Bought THO on the positive trading. As it gapped open and started pulling back we picked some up. Even though it pulled back as far as it did, notice it supported at the 20 day moving average. It can be bought aggressively on a positive open on Wednesday. 7/7 It came right back again using the T-line as support. It should come up to the 200 day moving average. 7/8 It formed a Doji. It can still be bought if it opens positive on Friday. Look for the 50 day and 200 day moving averages as being the next targets. There is a previous gap just above the 200 day moving average that could be filled. 7/9 It's still moving up slowly and steadily ever since the gap up from the Hammer signal. Continue to hold. 7/12 It's a little soggy but it's probably waiting for the T-line to catch up.  At this point use Monday's low of $27.48 as your stop. It shouldn't come back down through that level. 7/13 It got through the 50 day moving average. Now look for it to go to the 200 day moving average. Use Tuesday's open of $28.25 as your stop. It shouldn't come back down through that level. 7/14 Continue to hold. It's staying steady in an uptrend. It's in the overbought area and up above the 50 day moving average, so we definitely don't want to see it come back and close below the T-line. 7/15 It's showing some signs of weakness. Give it one more day and see if it will come right back up to the 50 day moving average. As long as it trades up above the T-line, we would continue to hold it. We suspect that it will bobble around for a while and then fight its way back up through the 50 day moving average. 7/16 If you didn't close this out on Thursday, it should have been closed out immediately on the weaker open on Friday.

7/8 Bought PWER on the positive open on Thursday. It broke out through the recent high levels. We reiterated this as a buy for Friday if it trades above $9.00. 7/9 This could have been bought again. It's breaking out through the recent high levels from the Pennant area. It can still be bought if it trades above Friday's high of $8.90. It had a big day on Thursday with a Doji-day on Friday. If it opens positive on Monday, we will definitely want to be a buyer. 7/12 It had a Doji type day. It still breaking out from the Pennant formation. Continue to hold until you see a sell signal and a close below the T-line. It may move sideways while it's waiting for the T-line to catch up. 7/13 It's still in an uptrend. Continue to hold. At this point we don't want to see it close back below Tuesday's low of $8.71. That would tell us the Bears are taking some profits. 7/14 It's still moving in a positive direction. Continue to hold as long as it stays above the T-line. 7/15 It's still holding up well. It needs to break to the upside. Use Thursday's low at $8.72 as your stop. 7/16 It should have been closed on the close below the T-line.

7/19 MELI was not shorted. It opened and immediately started moving positive. It showed good strength after the Kicker type signal to the downside. It can still be shorted but it needs to be shorted through Monday's low.

7/15 Bought GXDX on the positive trading. It can still be bought on a positive open on Friday. It should fill the previous gap which would coincide with the 50 day moving average area. 7/16 It stayed above the T-line but isn't doing anything fantastic. It now has a left/right combo. If it opens weaker on Monday, close out the position immediately. 7/19 It should have been closed out on Monday. After the Bearish Engulfing signal coming down to the T-line, it needed to open higher and trade higher. With it closing below the T-line, it should have been closed out.

7/6 Bought CF on the positive trading on Tuesday. Even though it closed lower, it didn't change the uptrend. It needs to open higher and trade higher on Wednesday to stay in it. 7/7 It needed to open positive and trade positive to stay in it, which it did. Continue to hold as long as it stays above the T-line. 7/8 It's moving up very nicely. Look for the 200 day moving average to be the next target. 7/9 It's still working out very well. Continue to hold and use the T-line as your stop. 7/12 It consolidated but came back up. Continue to hold as long as it stays above the T-line. 7/13 It's still moving up nicely. We're looking for it to go to the 200 day moving average. 7/14 It backed off a little bit but is still above the T-line. Continue to hold. 7/15 Continue to hold. It's doing exactly what it should be doing coming out of a Scoop pattern. Use Thursday's open as your stop. It shouldn't come back down through that level. 7/16 It stayed strong and is still in an uptrend. However, it did form a Doji in the overbought area. It should be closed out if it comes back down through Friday's low at the $76.07 level. 7/19 It should have been closed out on Monday. Even though it hasn't closed below the T-line, it formed a Doji/Harami and started selling off. It was time to take profits, especially with the rest of the market conditions the way they are.

7/19 Shorted GET. Continue to stay short but it needs to have a lower open and lower trading on Tuesday. If it opens positive, it tells us the T-line and the 50 day moving average are acting as support and you would want to close it out immediately. 7/20 It should have been closed out on Tuesday as it opened and immediately traded higher. It wasn't backing off. This can now be considered as a buy on a positive open on Wednesday.

7/20 Shorted IDT on the weaker open. However, it formed a Bullish Engulfing signal. It should have either been closed out on the close because it closed above the T-line or because it formed a Bullish Engulfing signal. It should definitely be closed out as a short position if it opens positive on Wednesday and then can be considered as a buy.

7/20 Shorted SA on weakness. If it opens positive on Wednesday, close out the position immediately. 7/21 It should have been closed out as it traded up above Tuesday's high. However, it closed weaker. Be ready to re-short this one if it opens weaker on Thursday.

7/19 Bought BVF on Monday on the positive trading. Notice the type of day it had on Friday with the market off 250 points. It's in wave three. There is something powerful going on in this stock. 7/20 Profits were taken on Tuesday resulting in a Bearish Harami signal. Come out of the position if it opens lower and starts trading down, especially if it trades below Tuesday's low. It needs to open positive and trade positive to stay in it. 7/21 It opened positive on Wednesday but came back down through Tuesday's Harami. It should have been closed out but watch to see what it does once it hits the T-line. It may bounce back up.

7/22 IRF was obviously not shorted with it gapping up with the market opening strong Thursday morning.

7/22 ISLE was not shorted. It opened positive and traded positive all day. It can still be shorted if it comes down through Thursday's low.

7/20 Shorted SLW on the weak open. However, it came back up and formed a Bullish Engulfing signal. It should be closed out on a positive open on Wednesday. 7/21 It opened positive but right at the T-line. Waiting a few minutes after the open showed us it was starting to sell off. Stay short but we want to see it open lower on Thursday. If it opens positive and trades positive, close out the position. 7/22 It should have been covered as it gapped up on Thursday. It needed to open lower and trade lower. It should have been closed out.

7/19 Shorted MOD as it came down through our stop area after opening higher. It's heading down to the recent lows. Continue to stay short and use the T-line as your stop. 7/20 It showed a little bit of strength. If it comes up through Tuesday's high of $8.28, close out the position. That would probably mean the entire market is back in an uptrend. 7/21 It should have been covered as it opened positive on Wednesday. It came right up, touched the T-line, and was re-shorted as it came back down through Wednesday's open. That told us we probably saw a failure with the market selling off. It can be re-shorted if it opens weaker on Thursday. 7/22 Obviously it didn't open weaker on Thursday so it would not have been re-shorted and should have been closed. It can now be bought on positive trading. Buy on strength and use the T-line as your stop.

7/9 DOLE was not bought. It formed somewhat of a Hammer signal. Notice that it's still setting up for a J-Hook pattern, so if it comes up through $11 we will still want to be a buyer.

7/12 TC was not bought. It opened lower but notice it's bobbing between the 50 day moving average and the T-line. It can still be bought if it comes up through the $9.90 level at the 50 day moving average.

7/12 TYU0 was not shorted because it opened positive. However, if it comes back down through the recent low levels, it can still shorted. At that point it could possibly come back down to the 50 day moving average.

7/9 Bought EXXI on the positive trading after Thursday's Doji. Continue to buy this. It's in a J-Hook type pattern. Use the T-line as your stop. 7/12 It should have been closed out on Monday as it closed below the T-line. It's sitting on the 50 day moving average but it may take a while for it to move up from here. Keep an eye on it. It can still be considered on positive trading.

7/7 Bought GFQ0 on the positive trading. Notice how it used to the T-line as support. If you see this opening positive on Thursday after the Doji, you will definitely want to be a buyer while anticipating a nice move to the upside. Use the T-line as your stop. 7/8 It can still be bought, especially if it breaks out through the recent high levels at $114 or higher. Be ready for this to form a J-Hook type pattern. 7/9 It got a little bit soggy on Friday. It formed a Bearish Engulfing signal but stayed above the T-line. It needs to open positive and trade positive to stay in the position. If it opens lower on Monday, close out the position immediately. 7/12 It should have been closed out. It opened positive and then came down through the close of the previous day. That told us the Bears were still in control and we should close out the position.

7/1 Bought GXDX as it traded slightly positive on Thursday. Notice how it consolidated back through the T-line and came back up again. It's still in a nice Rounded Bottom pattern. If it opens positive on Friday, you will definitely want to be a buyer. 7/2 It's still staying above the T-line. Continue to hold. It's still forming a Fry Pan Bottom pattern. 7/6 It traded lower a little bit on Tuesday but stayed above the T-line. Continue to hold. 7/7 It traded up above the T-line but it needs to get moving fast for us to stay in it. Otherwise, we need to move our money to some other position with better upside potential. 7/8 If it doesn't open and trade positive on Friday and has a sluggish day, close out the position. We may need to move our money elsewhere. 7/9 It must have a strong day on Monday to form somewhat of a Morning Star signal. If it does that, we should be getting a kickoff from there. 7/12 It closed below the T-line on Monday and should have been closed out. It was getting soggy. If you still own it, close it out on any weakness on Tuesday. The only way to keep holding it is if it opens positive and keeps trading positive. If you closed it out, put a buy stop at the recent high levels at around the $17 area. If it comes up through that level, the Bulls have stepped back in again.

7/13 TLB was not shorted. It opened positive and traded positive. As a matter of fact, it may now be considered as a buy if it opens positive above the 200 day moving average on Wednesday.

7/8 Bought SPRD but it pulled back. It needs to open positive and trade positive to stay in it. We don't want to see it trade back below Thursday's low. That would tell us the Bears are taking over again. 7/9 It's still in a Scoop pattern mode. It did start coming back up late Friday afternoon. If it opens positive on Monday, be ready to buy. We're still looking for the Scoop pattern to have a slingshot effect to the upside. 7/12 It stayed right in the "junky" area at the moving averages but stayed above the T-line. Continue to hold but it needs to open positive and trade positive to stay in it. 7/13 It should have been closed out on Tuesday with it closing below the T-line. There is too much strength in the market for this stock to be sagging like this. It can always be bought back if there is another buy signal.

7/1 Shorted WG. It formed somewhat of a Doji. If it opens positive, we will close the position right back out. It needs to open lower and trade lower for us to stay in the short position. 7/2 It didn't do anything decisive. Continue to stay short but it needs to open weaker. If it opens positive on Tuesday, close out the position and see if it stays below the T-line. 7/6 It opened higher, right at the T-line, and immediately started selling off.  It didn't warrant closing out the position. Continue to stay short until it shows a buy signal and a close above the T-line. 7/7 It didn't show enough strength to warrant closing it but if it opens positive on Thursday, we will definitely want to close out this short position. 7/8 It's not trading up very much but if it trades positive on Friday, we will probably want to close out the position.7/9 It's still being shorted. It's showing somewhat of a bottom at this level. At this point use any trading above $7.50 to close out the position. That would tell us there is too much support at this level. 7/12 It's not going anywhere but it might be breaking down again. Stay short as long as it doesn't trade above the T-line. 7/13 It should have been closed out on Tuesday as it traded up above Monday's high.

7/8 Bought SPR on the positive trading on Thursday. It's forming a nice J-Hook pattern and is showing us that the 50 day moving average is not acting as resistance anymore. Continue to hold. We don't want to see it close back below the 50 day moving average. 7/9 It's still moving out of its J-Hook pattern nicely. Continue to hold. It's a good distance away from the T-line but continue to hold it as long as it stays above the T-line, unless there is a drastic change such as a Kicker type signal to the downside. 7/12 It sold off hard and came back down to the T-line. It needs to open positive and trade positive to stay in it. Close out the position on any weakness on Tuesday. 7/13 It needed to open positive and trade positive, which it did. It can still be bought on a positive open on Wednesday. 7/14 It needs to have a positive open on Thursday and move to the upside. We don't want to see it trade sideways for too long or it may be caught in this range for a while. 7/15 It should have been closed out on Thursday with it closing below the T-line. If you still own it, it needs to open positive and trade positive to stay in it. If it opens lower, get out of it immediately.

7/2 F was not bought on Friday. It opened lethargically and traded off most of the day. It couldn't get up through the 200 day moving average. Keep an eye on it. If it comes back up on Tuesday, we would definitely want to be a buyer. Notice the Kicker derivative signal.

7/2 PSS was not bought. It opened and immediately started trading down after bobbling a little bit. Still keep an eye on it. It should be bought if it comes back up through the $17 level.

7/2 KCEU0 was not bought. It didn't come up through our $168.25 level. Keep an eye on it. It can still be bought above that level.

7/2 Shorted UTEK on the weakness. It did show some strength going into the close but it should continue trading below the T-line. Obviously, if the market opens positive on Tuesday, you might want to cover this and see if it stays below the T-line. 7/6 Even though it opened positive, it started immediately selling off. Continue to stay short. 7/7 It should have been closed out because it opened and started trading positive, and the market was also trading positive.

7/1 Shorted PEGA. It sold off. It's still in a position where it can be shorted if it opens weaker on Friday. 7/2 It could have been shorted again as it came back down through Thursday's close. If a stock opens higher and then moves down, start shorting it when it comes down below the previous day's close. It has created two dark candles in a row. 7/6 It opened higher but immediately started selling off. Continue to stay short and use the T-line as your stop. 7/7 It should have been closed out on Wednesday with the strength of the market and the formation of a Bullish Harami right on the 50 day moving average.


 

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