Friday, August 15, 2003

MRVL short - second trade - did trigger - so that's where we are now -- watch for a potential third trade should that set-up with a long reveral -- and no more than 3 trades in a day on a stock. Or, if this one hits the full target on the short we can end it there with two trades as we stop after two profitable trades as well.
SOHU did trigger the long reversal on the break of 30 and long now but will look for a potential third and final trade short/reversal should this move not hold up.
SNDK long with a high so far of 53.93 (target on the long 54.87) so the potential short reversal is 53.93 x 0.97 = 52.31 and round down to 52.25
NTES remains short with a 44.50 long reversal.
CVTX currently long.
CEPH is long with a current high of 43.95 x 0.97 = 42.62 so that becomes our short reversal though we will recalculate should we press to new highs on the day.
CAI currently long with the profit target set at 44.10 x 1.03 = 45.42 and round down to the nearest 1/8th or 45.37. Swing high so far is 45.15 x 0.97 = 43.79 so 43.75 is our short reversal.
SOHU short from 29.60 and hit a low of 29.05 x 1.03 = 29.92 so round up to the nearest 1/8th for a reversal to long and a break of 30.00 therefore becomes our current reversal.
SNDK long from 53.35
NTES currently short
MRVL making a nice exception with an early long trigger long from 36.15 with the target reached. Now looking for a second trade - short - with the spike high of 37.40 x 0.97 = 36.27 so round down to the nearest 1/8th or 36.25 becomes the short based on the current high.
Volumes and trading extremely slow -- this could mean either few triggering trades today or no follow-through on moves so be aware of this. You have numerous traders unable to get to work or trading desks barely manned due to the widespread blackouts right in the heart of the financial world. This is not going to be a typical day.