October 21st 2007
Trading Ideas Update
Well, the Dow Jones Industrial average was down almost 3% same with the NASDAQ. As a result, most of the longs I initiated over the past couple of weeks have been stopped or are close to being stopped out.
The AMTD trade is approaching the 50 SMA. Stops are set at my initial entry of 17.99.
The TNH and CSCO trades have been stopped at breakeven.
The AGU trade is sitting at about 1R.
The GT trade is no longer valid as the pattern has been broken.
The KGC trade is still open.
The SINA trade is sitting at breakeven.
The SFD trade has been stopped.
The GSOL trade is close to breakeven. The day trade worked out well, but the position trade is close to being stopped.
No more new longs for me. We’ve broken through what was the third move up in the DOW, and the NASDAQ is at the 2724 area of support. I’ve got some shorts on my scans. Will share tomorrow morning.
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