Thursday, July 24, 2003

SINA - short off of the high of 34.95 x 0.97 = 33.90 so rounded down to 33.87 which reached our 2% target but not the 3% -- and figuring a potential long reversal off of the swing low of 33.05 x 1.03 = 34.04 rounded up to 34.13
NTES - high of 40.98 x 0.97 = 39.75 which is where we went short for our first trade -- that bottomed so far at 39.38 x 1.03 = 40.56 so 40.63 (rounded up to nearest 1/8th) becomes our long reversal.
JCOM - currently short from 51.62 off of our earlier short reversal
CHINA - short using the swing high from 13.45 x 0.97 = 13.05 rounded down to 13.00 so the break of that area went short.
PECS - short off the 20.45 trigger and through the profit target so now looking for a long to set-up off a clear swing low.
OVTI - started with a shrot from 36.40 which bottomed at 36.26 x 1.03 = 37.35 so the long reversal is set at 37.38 at this time
CTSH - gap and too strong early to catch a pullback on the long so looked for a short trade off the 32.79 high x 0.97 = 31.80 and round down to 31.75. We did go short there with the swing low so far of 31.58 x 1.03 = 32.53 and round up to the nearest 1/8th when going short to long or 32.63 so currently short but have our potential long reversal ready in case.
SOHU - no chance on the long due to gap and early run - the swing high so far is 39.60 x 0.97 = 38.41 and we round down to the nearest 1/8th when going long to short so that would be 38.37 for a potential short area at the moment anyway.
NTES - strong surge early - gap situation on many stocks today so simply cannot catch those long -- now have to look for a second trade short - in this case our first actual trade possibility -- the swing high was 39.50 x 0.97 = 38.31 and rounded down to 38.25
JCOM - long with our profit target set at 52.10 x 1.03 = 53.66 or rounded down to 53.62. The swing high so far is 53.30 x 0.97 = 51.70 rounded down to 51.62 which would be our current stop and then reversal to short area.
CHINA - strong gap so no chance to catch the long - looking at a first trade short the swing hig is 13.10 x 0.97 = 12.70 rounded down to 12.62 the nearest 1/8th below.