Monday 16 July 2007

Filtered Trade Candidates for the Day
GAPHV: CROX (a bit cheap but my be ok with the W%R hook under -20; also might be a cup w handle or base if cleared on up volume; volume lighter on a down day) PCLN (just doing a large W%R hook under -20) TS (just doing a large W%R hook under -20) UCO (hook - W%R - or fly?)
TTC-A: MLM (only if volume arrives)
Patterns: CAT (nice hook, Ind Grp: A+, but distribution during the trading day)

Trade Session Notes
Nikkei...Holiday.........
Hang Seng...22953.94...-145.35...-0.6%.
FTSE...6713.10...-3.60...-0.1%.
DAX...8107.04...+14.27...+0.2%.
8:15:12 AM

CBOE VIX

15.15

-0.39

9:59:17 AM MO: neutral (VIX) to bearish (A/D issues)

CBOE VIX

15.15

0.00

Market	Adv	Decl	Unch
Nasdaq	1,935	2,955	239
NYSE	1,000	1,701	142

10:20:37 AM MS: slightly bearish (VIX) with NYSE holding up somewhat.

CBOE VIX

15.54

+0.39

Market	Adv	Decl	Unch
Nasdaq	2,026	3,132	249
NYSE	1,090	1,676	129

10:54:47 AM MS: slightly improving (see VIX and Advancers)

CBOE VIX

15.45

+0.30

Market	Adv	Decl	Unch
Nasdaq	2,369	2,997	264
NYSE	1,256	1,560	144

11:28:47 AM MS: getting mixed (VIX down +, Adv/Decl both up -)

CBOE VIX

15.4

+0.25

Market	Adv	Decl	Unch
Nasdaq	2,475	3,045	244
NYSE	1,294	1,582	125

12:20:30 PM MS: mixed (VIX better, Adv/Decl down)

CBOE VIX

15.37

+0.22

Market	Adv	Decl	Unch
Nasdaq	2,502	3,160	263
NYSE	1,212	1,698	135

12:53:41 PM MS: mixed (NYSE is getting better along with VIX)

CBOE VIX

15.3

+0.15

Market	Adv	Decl	Unch
Nasdaq	2,544	3,230	237
NYSE	1,264	1,689	116

Open positions: PCAR (volume dried up but still up and going), BHP (falling but has to wait for W%R closing reading, volume dried up as well), CMI (Past the dip), TEX (Doing fine)

I call it a day now, as I have to go climbing!

Open Trades as of EOD 13 July

Live

.PAQKT	PCAR NOV 100 Call	$93.77	1	$450.00	$4.5	$0.00
	Target @ $98.5 or $6.4.

Virtual

.BHPKM	BHP NOV 65 Call	$67.96	$400.00	$7.2	$320.00
Exit point of second hafl if W%R dips under -20 on volume.
.CDMIC	CMI SEP 115 Call	$118.65	$830.00	$10.2	$190.00
Target at around $122 or $12 premium.
.UPUGR	CTSH JUL 90 Call	$86.18	$560.00	$0.25	($535.00)
Break even at $4.55. Time close at 22 June, Friday. Loosing trade!
.TEXJS	TEX OCT 95 Call	$92.29	$660.00	$6.7	$10.00
Target: $94,85