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Technical Trading Ideas scorecard

August 21st, 2010 · No Comments

Round one..

  1. VECO long at $31.5 on Monday 16/8/2010. As the chart updates itself so it shows the current shareprice, which is nice as even in a bad market, the oversold condition, together with hitting the downward edge of the corridor held. Up more than a buck
  2. FCN short at $34.46 on 16/8/2010. (M) The “perpetual” downtrend and major resistance played out, it closed the week at $33.65 for a win of 79c.
  3. PNRG long at $18.99 on 18/8/2010. The multiple bottom we saw at around $18 has held, but there is also the 50 day moving average to keep it from rising (at least for now). We missed that the first time around and it cost 19cents..
  4. OMI short at $27.55 on 18/8/2010. (M) Closing in on the upper limit of a steep downward channel indeed proved a good shorting opportunity, so far, a profit of 65cent.
  5. MWV long at $22 on 19/8/2010. The multiple bottom around $22 looks in danger, loss of 21cents.
  6. SINA long at $42.2 on Thursday 19/8/2010. (M) The support at $42 seems still in tact, only just. Down 8cents..
  7. KITD short at $9.49 on Thursday 19/8/2010. (M) The downward trendline and resistance at $9.5 have indeed played out, the stock is down to $8.85 for a considerable win of 64c.
  8. HSY short at $47.12 on 19/8/2010. (M) The double top and resistance hasn’t proven a good shorting opportunity yet, a loss of 62cent.
  9. URBN short at $33.41 on 19/8/2010. (M) The multiple resistance and a solid downward trend has so far held, a profit of 46c.
  10. LINE short at $29.5 on 20/8/2010. (M) The broken uptrend and failure to put in a new high has so far delivered a profit of 51c.
  11. SOL short at $7.8 on 20/8/2010. The multiple top just over $8 has held so far, although incurring a 9c loss.
  12. VPRT at $29 special case on 16/8/2010. We didn’t make a call but merely noticed the heavily oversold conditions RSI of 17, but the shares have drifted even lower to $28.4
  13. COCO at $4.5 special case on 20/8/2010. We didn’t make a call either, but this mother of all sell-off’s is interesting to follow for the low RSI (19), to see whether that by iteslf could bounce the stock, even temporary.

We’re actually pretty pleased, all charts have held so far, although some only just..

Tags: Technical Trading Ideas