Thursday, July 31, 2003

SINA - swing high in the long has been 35.95 x 0.97 = 34.87 which is where we have reversed to short.
OVTI - long at this time -- the swing high in the long so far has been 41.97 x 0.97 = 40.71 so round down to the nearest 1/8th when going long to short or 40.62 to reverse
NTES - been very choppy but we remain short -- the current long reversal is ready on a break of 50.50 based on the current swing low of 49.00 during the trade.
CHINA - went short at our 12.20 level and to target (12.20 x 0.97 = 11.83 and round up to the nearest 1/8th when figuring a target on a short or 11.88). Now looking at trade 2 which would be a long - current swing low so far is 11.70 x 1.03 = 12.05 so round up to the nearest 1/8th or 12.13. If the low of 11.70 is taken out this calculation would change.
SINA - also pulled back to our buy point.
OVTI pulled back to our entry area so currently long.
NTES - currently short - calculate your potential long reversal off the current swing low of 49.21
BRKS - gapped up - long to the theoretical 3% target so looking for a short as first trade -- high after the first 10 minutes was 19.50 x 0.97 = 18.91 and round down to nearest 1/8th for a short so currently 18.87