Monday, August 25, 2003

NTES didn't catch the short to start the day due to the quick drop to the target area -- so first trade was long off the low from 47.38 which is where we are still at this time.
MRVL low of 40.10 x 1.03 = 41.30 so 41.38 becomes long reversal -- still short. The market is moving very, very slow -- smallest range of the year so far so likewise stocks are creeping along.
SOHU made it to target but not with us onboard due to the gap and initial move lower -- so we now look for a long as the next trade in the series -- our first possible on SOHU today - the low so far is 28.83 x 1.03 = 29.69 rounded up to 29.75
SINA short triggered at to our profit target. Now looking for a potential second trade long -- the low of 29.87 x 1.03 =30.77 so round up to nearest 1/8th for a long and 30.88 becomes the current long trigger.
SLAB short through the profit target. Now looking for a second trade long. Currently low of 41.20 can calculate the potential long but it looks like it might go lower here so would recalc. depending upon new swing lows.
NTAP currently short from 21.45 with target therefore 20.88
MSTR short from 37.90 - low just below that so far at 37.85 x 1.03 = 38.98 so a break of 39.00 would be current long reversal.
MRVL short from 40.90 at this time.
BRKS short from 23.80 target 23.13 -- low so far of 23.32 x 1.03 = 24.02 so round up to 24.13 is current long reversal.
Markets extremely slow today -- no trading range at all -- we'll see how it impacts our trades today.