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Steve's Trading Diary - March 2006

3/10 Bought SFCC on the positive open on Friday as it was completing its potential Scoop pattern as well as an Island Reversal. Continue to hold. 3/13 it's still in an uptrend, continue to hold. Use a close below $21.70 as your stop. 3/14 it's still consolidating. It needs to see a pop out through the descending trend line very quickly to start moving in an upward direction. 3/15 it traded slightly higher trying to get above the downward trend line. Look for a nice pop to the upside very soon. 3/16 it had a positive day. It now looks like it's up above the descending trend line, continue to hold. 3/17 it moved higher, continue to hold. 3/20 it's still moving up off of the Island Reversal, continue to hold. 3/21 it formed a Hanging Man-type signal. This one needs to open higher and stay higher on Wednesday. Otherwise, it may be time to start taking some profits. 3/22 it's still in a nice uptrend, continue to hold. 3/23 it's still moving higher, continue to hold. 3/24 it's still in a slow uptrend. It might be getting toppy. It needs to see strength on Monday. Use any trading below $24 as a stop. 3/27 it's still in a nice uptrend, continue to hold. 3/28 it backed off a little bit on Tuesday. Close this position out on any trading below $24.10. This one should open flat and move higher to continue to stay in the position. 3/29 it opened higher and moved higher, continue to hold. 3/30 it's still in a very slow uptrend. The stochastics are rolling over but the price isn't moving down, which means it could be setting up for the next leg to the upside. 3/31 it backed off a little bit on Friday. Be ready to close this one out on a close below the $24 range. 4/3 although it traded slightly higher on Monday, it needs to see strength to continue the uptrend. Otherwise, it's time to come out of the position. 4/4 it traded lower. Be ready to close this position on weakness on Wednesday. 4/5 it had a strong day. It looks like the stochastics are starting to curl back up, continue to hold. Now use a close below $24 as your stop. 4/6 it pulled back a little bit but it looks like the trajectory is trying to move up. We're looking for the stochastics to start curling back up. 4/7 it needs to see a bullish day. Otherwise it will come back and test the 50 day moving average before it's able to bounce up. 4/10 it formed a bullish Harami. Look for it to trade higher. Notice that the stochastics have pulled back but the price has pulled back very mildly. 4/11 it came back and touched the 50 day moving average with the stochastics moving into the oversold area. Be ready to buy this one on strength. 4/12 it closed right at the 50 day moving average. This one needs to open higher and trade higher immediately. The stochastics are in the oversold area. Look to buy on strength. 4/13 it did a Doji-type day right at the 50 day moving average. Look for it to move higher from this level. 4/17 it's trading right at the 50 day moving average with stochastics in the oversold area, be ready to buy on strength. 4/18 if this one doesn't show a bullish signal on Wednesday, close out the position. 4/19 it formed a little star signal in the oversold area. Be ready to start buying it aggressively on a positive open. 4/20 buy this aggressively on a positive open. 4/21 close out the position if the end-of-day trading stays below the below 50 day moving average of $23.28. 4/24 close it out on a lower open. 4/25 you can buy this on strength. 4/26, 4/27 continue to hold. 4/28 it's holding at the 50 day moving average, continue to hold. 5/1 it closed below the 50 day moving average. If this one opens lower on Tuesday, close out the position. 5/2 it formed a Doji. It needs to open higher and trade higher on Wednesday to stay in this position. If you closed it out, be ready to buy it back on strength on Wednesday. 5/3 it traded higher on Wednesday, continue to hold. 5/4 it traded lower after a strong day on Wednesday but stayed ab

 

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