Trades 01/May/2008

Watchlist:
AKAM,APA,CEDC,CLX,CMCSA,CMCSK,CNQR,CTSH,DNR,EK,GNK,GTI,
IRM,LKQX,LVS,MUR,OSK,OVTI,PSYS,RRI,SEPR,SYMC,TBL,TTEK,
WYNN, XOM,XRAY

TTEK (gap up)

After gap up, the first candle is red but longish tail. We then have sideways action below the OR. From 6th candle onwards we start to trend up with ema. The 7th is not an ideal candle, but the 8th is strong and breaks out of OR. It also is close to the ema and closes strong itself. This is our trigger for a long.

Entry: 23.84 Stop: 23.50
Fib Ext: 24.72
1R=24.18 2R=24.52 3R=24.86

The price trends up nicely with the ema after entry. We take partial at the Fib Ext for a good gain. The rest is closed at the end of day. A nice gainer overall.

XOM (gap down)

First candle is red . Then we move sideways as we test the OR low. This is broken on the 5th candle. A bit wide range though for a trigger. The 6th is a NR7, but was a bit too far from ema for my liking. We move sideways again until we hit the ema resistance. The 10th is inverted hammer like which tests the ema and also closes weak itself. This is our trigger.

Entry: 88.78 Stop: 89.20
Fib Ext: 87.47
1R=88.36 2R=87.94 3R=87.52

Some promising price action after entry as we move downwards to the 1R. But then support is found and the stock moves up to stop us out at breakeven.

CMCSA (gap up)

Gap up is followed by a red candle with a long wick. Normally I would not bother looking at this much, but the 2nd candle offsets the 1st and is very bullish. We then trend up with higher lows and break out of the OR on the 5th candle. This is possible first trigger. The 6th is NR7 which bounces off OR confirming it as support. This is our second trigger.

Entry: 21.82 Stop:21.62
Fib Ext: 22.18
1R= 22.02 2R= 22.22 3R= 22.42

The price moves in our favour after entry and we take partial at the Fib Ext (about 1R) and leave the rest to run. Then close at the end of day for a nice gain.