Friday, August 22, 2003

SOHU the short is through the target on the first trade there. Can be looking for a long -- so far off the swing low of 30.75 you can make the calculation.
SINA reversed to short at 32.62 and that has gone through target. Final trade long can be based off swing low of 31.52 x 1.03 = 32.46 so 32.50 break of becomes the long. Keep in mind of course if it goes lower you'd recalculate that long formula.
SNDK went long off the pullback into 59.35. Since it did gap and trade higher but never met its 3% target of 61.12 we could take the pullbacks. The high of 60.94 x 0.97 = 59.11 puts the short reversal at a break of 59.00 though -- but low risk trade to try.
MSTR did go short from 40.50 and through profit target for second trade of day. Can take one more, this one long current low of 38.50 x 1.03 = 39.65 so round up to 39.75.
CHINA went short from 9.90 and hit target at 9.63. Now looking for a long off the low so far of 9.56 x 1.03 = 9.84 so round up for longs to nearest 1/8th or 9.88
BRKS shorted from 25.37 x 0.97 = 24.60 so 24.63 was target which was hit. Looking for a long now off the swing low so far of 24.35 x 1.03 = 25.08 rounded up to 25.13
SOHU currently short triggered.
MSTR long from 41.35 on the pullback and the swing high after first 10 minutes (we ignore all prices in the first 10 minutes since we don't trade it) is 41.79 x 0.97 = 40.53 so round down to nearest 1/8th and a break of 40.50 would be the short reversal.
MRVL major gap today so looking to short as the long is long done. High 42.65 x 0.97 = 41.37 for a short.
BRKS did gap and reached a long target -- didn't trade to our limit so we know the long is complete -- so first trade looing for is short with a high of 26.23 x 0.97 = 25.44 rounded down to 25.37 to short.
Today was a mega-gap higher on the Intel news so many of the stocks you'd expect will not be caught on the initial long -- which means could see first trades short off those highs.