Trades 15/Jan/2009

Watchlist:
AAPL,ADSK,AMX,APH,ASML,CCL,CHK,CLC,DLTR,DNA,
FRX,HBC,IBN,MTB,RIG,STO,TRMB,UN,V,VNO,VZ,ECL

CCL (gap down)

Gap down is followed by bearish first. We trend down past OR before bouncing at the decade $20 and Fib Ext. We retrace up to the ema then hit resistance. The 7th is off the ema, bearish doji and closing weak. This is our short trigger. It fell after entry and we took partial at 1R since the Fib and $20 were both likely to provide support. The rest came back to close at breakeven.

DLTR (gap up)

First candle is bullish despite weak market. We then trend/consolidate sideways but hold the OR which is a good sign. The 4th is NR3 pullback to ema and staying above OR. The downside to this entry was that the Fib level was close ($42.59), so likely to provide resistance. Although the stock stayed above OR it drifted sideways and we closed partial for a slight loss (-0.5R) as the Fib Ext seemed to be strong and it didn't breakout despite the market gaining momentum. The rest was left to run however and it produced a very good run for the rest of the day. This was closed towards the end of session for 3R gain.

TRMB (gap down)

Initial price action is sideways but we then start to move down with the ema in nice clean trending action. We break the OR on the 6th and then consolidate below. The 9th is a gravestone doji type candle off the ema and is our short trigger. Looked good initially as we take partial at 1R. However it then recovers strongly with the market and we are stopped at breakeven on the remainder.

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