Friday, July 18, 2003

SFNT - has been close in triggering a long -- we'll give it a bit longer but when it gets down to about 10 - 15 minutes left in the day doesn't make much sense to add a new trade.
PCNTF - also finished as we had a short and then a long both go the distance so done there as well.
HITK - through the long profit target earlier so with two full profit target trades in the books we're done for the day with HITK
SOHU - went long, then reversed to short and done now with the final long trade through target -- common pattern today as the early morning was uncertain for the markets.
XING - solid rally off the break of 10.80 and through target so that trade done with no problem. Now, looking to set-up a potential short as a second trade.
OVTI now long from that break of 36.50
NTES - much like CHINA had some early chop and had a long, then a short but the final long trade has worked well so a good offset for the eariler trades that didn't cooperate and done with NTES for today.
JCOM - after hitting the short target making a good run on our long off the low of 42.10 x 1.03 = 43.36 rounded up to 43.38 and that trade is also through the profit target now so with two full target trades in the books we'll leave it at that with JCOM for today.
CHINA - first trade long, then a short, neither found target but the final trade of the day made it easily as a long reversal off the swing low of 11.43 x 1.03 = 11.77 or 11.88 with the rounding up to the nearest 1/8th. So, an offset of the two earlier trades and done for the day on CHINA
BRCM - just missed the 3% target area on the short (reached on the 2%/3%) the long reversal set-up at 22.54 x 1.-3 = 25.27 and rounded up to 25.38 as the long entry
SOHU - traded the pullback to 38.10 - since the swing high after the first 10 minutes was 38.85 x 0.97 = 37.68 we now we reverse to short at 37.63 -- we then had our second trade short though that trade so far has bottomed at 37.30 x 1.03 = 38.41 which means we'd reverse into our final trade of the day on SOHU at the break of 38.50
SINA - couldn't catch the initial long so looked for a short trade to start the day. Swing high of 26.39 x 0.97 = 25.59 and rounded down to nearest 1/8th or 25.50. We haven't yet triggered as we need a one tick break of that level and it's held for the moment.
PCNTF - short through target - swing low of 9.00 x 1.03 = 9.27 so 9.38 becomes a potential long trade
OVTI - short was first trade - through target - watching for a clearer swing low to calculate the potential long
JCOM short from 43.65 reached our profit target. Looking now for a second trade - long - current swing low is 42.10 x 1.03 = 43.36 so 43.38 is the entry area
HITK - short to our profit target. Looking for a second trade therefore, long current swing low 26.37 x 1.03 = 27.16 which would be 27.25 with the rounding where we are long from
CHINA - went long initially swing high of 11.94 x 0.97 = 11.58 and rounded down to 11.50 which is where we are now short form
BRCM - currently short