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Steve's Trading Diary - June 2006


6/21 AVNR was not bought. It consolidated but be ready to buy this one on any strength, especially if it comes up through the $6.50 level. 6/22 it's consolidating. Be ready to buy this one on strength, meaning a positive open. 6/23 be ready to buy this on strength after the consolidation on a positive open on Monday. 6/26 it's moving up nicely. Be ready to buy this again on strength. 6/27 it's still moving up nicely, continue to hold. Now use any trading below Tuesday's low of $6.26 as your stop. 6/28 it needs to open higher and move up through the 20 day moving average to continue to hold. 6/29 it consolidated at the 20 day moving average. This one needs to open higher to continue to hold. If it opens lower, close it out immediately. 6/30 it needs to show a positive open on Monday to conitnue to hold. 7/3 it traded up above the 20 day moving average. It should still move up toward the 50 day moving average, continue to hold. 7/5 it's still in an uptrend, continue to hold. Still look for the 50 day moving average to be the target. 7/6 it did come up and touch the 50 day moving average. Be ready to take profits on any signs of weakness on Friday. 7/7 it's getting toppy. At least some profit-taking should have been done on Friday. Be ready to close this out on any lower trading on Monday. 7/10 if you closed it out on the weakness, be ready to buy back half of the position on any strength. 7/11 it's still trading higher, continue to hold. 7/12 it's getting a little bit toppy. Use any trading below $8.62 as your stop. 7/13 this one should have been stopped out at the $8.62 level.

6/30 Bought MTW on the positive open. It moved up nicely by the end of the day, continue to hold. 7/3 it's still moving higher. It needs to break out through the 50 day moving average to continue to hold. 7/5 it showed a little bit of indecision at the 50 day moving average, forming a Hanging Man signal. Be ready to close this one out immediately on weakness on Thursday. 7/6 it opened higher and continued higher, continue to stay long. Now use a close below $45 as your stop. 7/7 it held above the 50 day moving average. Be ready to close this one on any trading below Friday's low of $44.75. 7/10 be ready to close this one out if it trades anywhere below Monday's low of $45.33. 7/11 this one should have been stopped out below the $45.33 stop. Now be ready to go short on this one.

6/22 Bought SWIR on the strength. It did a Doji-type day. Be ready to buy this aggressively on a positive day on Friday. 6/23 it still held up but it needs to show strength on Monday. If it trades anywhere below Friday's low of $15.90, close out the position. 6/26 it's still in a slow uptrend, continue to hold. It needs to see a strong day to stay in this position. 6/27 be ready to close this one out immediately on any trading below the low of $16.11. 6/28 it's getting a little bit toppy. Be ready to close this one immediately on a lower open. 6/29 it's still in an uptrend, continue to hold. 6/30 it continued to move higher, continue to hold. Now use a close below $17.10 as your stop. 7/3 it formed a Bearish Harami right at the 50 day moving average. If it closes below $17.20, close out the position. 7/5 it stayed up above the 50 day moving average, continue to hold. Still use a close below the $17.20 level as your stop. 7/6 it's still holding above the 50 day moving average. Now use any trading below the 50 day moving average, at approximately $17.30, as your stop. 7/7 be ready to close this on any trading below $17.30. 7/10 this one should have been closed out as it came down through the $17.30 level.

6/30 Bought VDSI. It gapped open to the upside. It can still be bought. 7/3 it consolidated a little bit but the upward trend didn't change. Continue to hold as long as it trades above the 50 moving average. Now use a close below Monday's low of $8.15 as your stop.

 

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