Wednesday, July 30, 2003

PCNTF - through our short target so now looking for the next trade in the series - a long -- just setting a new swing low so make your calculation off of that but change of course if it breaks lower.
NTES - remains short looking at 48.25 for our target
CHINA - currently short and targeting 12.38 (rounded up from the calculated 12.32 as we round the target up to the nearest 1/8th when setting a short trade target)
SOHU - swing low of 39.53 x 1.03 = 40.71 so 40.75 is our long reversal.
SINA - reached a high of 36.59 on our long so 36.59 x 0.97 = 35.48 so rounded down to 35.37 becomes our short reversal -- currently still in the long though came close to the reversal once.
HITK - hit a new swing low on the day so be sure to recalc. your potential long trade.
SOHU - trading short at the moment - be sure to calculate your potential long reveral off the swing lows.
OVTI - swing low of 40.50 x 1.03 = 41.72 rounded up to 41.75 which becomes the long reversal.
HITK - short dropped through the profit target. Now looking at a second trade, this one long. Current swing low of 26.33 x 1.03 = 27.12 so 27.13 would become the long trade unless we get a new swing low.
CELG - currently long with the profit target area at 37.62
AVID - traded the short on the pullback -- though the stock gapped and was trading lower it did not reach the 3% target area so a pull-up back to the limit was taken -- keep in mind the swing low in that decline after the first 10 minutes (we ignore the first 10 minutes) was 45.41 x 1.03 = 46.77 which we round up (when short to long round up) to the nearest 1/8th so the long reversal is set at 46.88.
SINA - missed early short due to gap -- swing low of 35.31 x 1.03 = 36.38 which is where we have gone long
OVTI - currently short -- watch for swing lows to calculate potential long reversals and of course your profit target.