Friday, July 11, 2003

SINA - ended up hitting 28.00 so we recalculated the short trade as 28.00 x 0.97 = 27.16 or 27.12 with the rounding down to the nearest 1/8th on the short -- currently that's where we are but watch for a potential exit at 27.06 x 1.03 = 27.88
OVTI - continuing to hold our short - it did hit the 2% target for those using that strategy -- otherwise we're still looking at a 37.00 reversal -- or for our profit target on the short.
IGEN - did hit our short target so we're done for the day on that one with 2 successful trades.
SOHU - got the break of 39 and did rally just to our target. So looking at the third and final possible trade as a short set-up.
SINA - that long reversal hit our profit target so now can be looking for one final trade on the day since we've been through two, and that would be short. Current swing high of 27.50 x 0.97 = 26.67 or 26.62 with the rounding down to the nearest 1/8th on a short. Of course, if 27.50 is taken out you'd recalculate.
IGEN - nice run - rallied easily through the 3% target for our long. Now looking at the short based on the swing high of 33.53 x 0.97 = 32.52 or 32.50 with the rounding down to the nearest 1/8th and that has since triggered so currently short. Be sure to watch for clear swing lows in the move to calculate your stops and potential reversals. Profit target on the short is 31.63
SINA - reversed from short to long at 26.63 - which is currently where we stand with the trade.
NTES - hit our second target of the day this time long se we are done for the day with NTES with 2 trades. It is trading well today so you can always optionally consider a 3rd trade if you like (short) but we're set for now with it.
SOHU - looking to reverse to long on the break of 39.00
OVTI - currently short
NTES - hit our target on the short - now setting up a long off the low of 36.45 x 1.03 = 37.54 or 37.63 with the rounding up to the nearest 1/8th. That is currently an open long trade.
IIJI - short to our profit target. Now be looking for the potential long calculated off the ultimate swing low.
BRCM - currently long - we have the potential short reversal right now based on the swing high of 28.14 x 0.97 = 27.29 or 27.25 with the rounding.