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Strategies & Market Trends : Trading From Main Street.

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To: Brandon who started this subject	8/1/2001 10:52:03 PM
From: Brandon	Read Replies (1) of 226

August 2nd Trading Plan: The market remains locked in a tight range. Over the last several days it has rallied to the upper extremes of the range. When this occurs we usually have a good shorting opportunity. The SP500 has now formed 4 doji's in a row, hardly a bullish sign no matter what CNBC tries to tell you. My focus will primarily be on the short side of the market using the SPY, QQQ and a select groupd of stocks unless I am proven wrong. A break above $123 on the SPY would be my trigger to go long. Should that occur I will focus on stocks breaking to new two month highs in the top sectors to go long in. Overall the QQQ looks pretty similar to the SPY and should give us shorting opportunities. The Midcaps however (MDY) look strong and I will be looking at a trade above 94.75 on the MDY as a buy with a normal lot size. PMC-Sierra, Inc (PMCS) is breaking out above a triple top on the daily chart. Its doing so on strong volume. Should PMCS trade above 33.40 that will provide me a buy setup. If the SPY is above 123 and acting well at this point I will take full position sizes. Otherwise my trade will be a half lot. Enter this trade with $1 stops. Once you have a gain of 50 cents, move the stop on half of the position to breakeven. Do not take partials until the potential loss amount is covered. Sun Microsystems (SUNW) has broken out above its triple top and most recent trading range. It did so on decent volume. Look for upside follow through if it trades above 17.60. Keep a 50 cent stop and exit with a standard exit plan. THQ Inc (THQI) has given us gains of over 20 points in the last few weeks on the short side. We know the 12 year olds are not going to take over the world, but lets give them one more chance. Brokerage firm hype should come back in soon. The stock has declined sharply to support giving us a potential Oops long. Look for buying opportunities if THQI trades above 46. LTX Corporation (LTXX) is a downtrending stock that has rallied sharply to moving average and price resistance. Look for Oops shorts on trades under 23.99. Place a stop over the days high. First target 23.30 area. 23 after that. Sears (S) is teetering at high levels. Look for shorting opportunities under 46.50. Stop above 47.30. Std exit plan. Concord EFS , Inc (CEFT) is a potential Avalanche short on trades below 56.50. Stop above 57.50. Std exit plan.

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