Trades 30/Oct/2008

Watchlist:
AGU,AVP,BIIB,DRYS,FDRY,GG,MICC,MOS,NEM,
PBR,POT,UBS,V,WFT

BIIB (gap down)

First candle bullish, but then we fall relative to the market. The $40 level is not holding as strong support. Short entry on the 3rd bar as the market falls.

Entry: 39.95 Stop: 40.30
Fib Ext: 37.27
1R=39.60 2R=39.25 3R=38.90

We take partial at 2R and rest is left to run. The stock gains some support and this remainder is stopped at breakeven.

AVP (gap down)

Bearish first candle and we hold at bottom end of the OR range despite general market showing some strength. Short on 4th bar after a downturn in market.

Entry: 21.12 Stop: 21.64
Fib Ext: 18.09
1R=20.60 2R=20.08 3R=19.56

We take partial at 1R since $20 is a possible support area and rest is left to run. The stock gains some support and this remainder is stopped at breakeven.

AGU (gap up)

After gap up we head up past the OR. This cannot hold and we fall with the market as the day progresses. The 10th is a bullish candle which holds previous day's high as support and closes strong. We enter long on next candle as the market comes up from an oversold level.

Entry: 36.71 Stop: 36.30
Fib Ext: 43.11
1R=37.12 2R=37.53 3R=37.94

We hold support nicely and trend up with the ema. Take partial at 2R and leave rest to run. This is closed at end of day for around $2 gain.