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Steve's Trading Diary - July 2006


7/28 Bought FDG on strength as it headed higher on Friday, continue to hold. Use a close below $27.29 as your stop. 7/31 it's still moving in a nice uptrend, continue to hold. 8/1 it did a little consolidation at the 20 day moving average. Be ready to close this one on a close below $28. This one needs to open higher and trade higher on Wednesday to continue to hold. 8/2 get ready to close this one out on weakness on Thursday. It needs to stay level and move higher to continue to hold. Use any trading below $28.20 as your stop. 8/3 it's trading right along the 50 day moving average. It needs to see a higher open to continue to hold. Use any trading below $28.20 as your stop. 8/4 be ready to close this one on a close below $28.40. 8/7 continue to hold and use $28.40 as your stop. 8/8 close this on any weak trading. 8/9 close this on a weak open on Thursday. 8/10, 8/11 no notes due to technical difficulties. 8/14  if you are still in the position, look to close this on weakness on Tuesday. 8/15 this came within cents of our $31 target price recommended on July 28th for a profit. If it doesn't start showing any signs of strength, it's time to take your profits and move your money into another trade. Close this on any trading below Tuesday's close of $29.45. 8/16, 8/17 continue to hold and use a close below $29.60 as your stop. 8/18 it's still in a slow uptrend. Use a close below $30 on Monday as your stop. 8/21 it's still in a slow uptrend. Still use a close below $30 a share as your stop. 8/22 it's still in a nice uptrend, continue to hold. Use a close below $30 as your stop. 8/23 it's still in an uptrend, continue to hold. Now use any trading below $30.75 as your stop. 8/24 it formed a Bearish Engulfing signal in the oversold area. If this closes weaker on Friday, close out the position. Any trading below $30.40 would warrant closing out the position immediately. 8/25 it was closed out immediately on the weak open on Friday.

7/26 Bought MWY as it came up through Tuesday's close, continue to hold. 7/27 it consolidated but closed near the high end of the trading range, continue to hold. At this point, use a close below Thursday's low of $9.32 as your stop. 7/28 it backed off on Friday. It's still trading above the 20 day moving average. Now use a close below $9.28 as your stop. 7/31 it formed a Hammer on the 20 day moving average. Be ready to buy this one again on strength. 8/1 it's still trading on the 20 day moving average, continue to hold. Now use a close below $9.00 as your stop. 8/2 it's now trading flat. Still use a close below the $9.00 level as your stop. 8/3 it's trading above the 50 day moving average. Be ready to buy this one on strength on Friday. 8/4 continue to hold. 8/7 continue to hold but if it closes below Monday's low, close out the position. 8/8 it needs to see strength but continue to hold. 8/9 be ready to close this on any weak trading on Thursday. 8/10 this position hit our stop loss and would have been closed.

7/31 ADBL was not shorted. It opened higher but closed at the low end of the trading range. Be ready to short this one on weakness on Tuesday, at anything below $7.40. 8/1 it should still be in a downtrend, continue to stay short. Now use a close above $7.50 as your stop. 8/2 it traded higher. It was stopped out as it came up through the $7.50 level and closed at that range. If you didn't close it out on Wednesday, be ready to close it out on any positive open on Thursday. 8/3 it's showing too much strength. Be ready to close this short position on any positive trading on Friday if you didn't already cover it on Thursday. 8/4 it should have been covered.

7/26 Bought LAUR. It formed another Doji. Be ready to buy this aggressively on a positive open on Thursday. 7/27 it traded lower on Thursday but it's still above the 50 day moving average. Continue to hold but be ready to close it out if it comes down through the $44.80 level.

 

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