Pre-open 08-04-2006

Ah, Friday, thank goodness. What a week...Yesterday's reversal was a nice piece of work that supported my SPLS trade. In addition, the market bull engulf led to 299 charts returned by my script. I think that is a record. On 7-18 I had 215 charts returned and a sizable market rally the next day. Maybe the trend will continue.

Watch List: KEI, CPF, HZO, IRN, NDN, BOW, CNW, FRK, RDN, TUP, EMC, JDSU, PMCS, TGT, TLAB

I've been contemplating a trailing stop strategy for stocks that pass my first target on the way to my second and beyond. I think I'll set the initial stop at my sell price (at target 1) and then increase it in 1% increments. The stop may be a little tight, but I would rather take profits and have cash for the next trade rather than holding too long and having it reverse. I'll test the strategy on SPLS if (or should I say when) it reaches Target 1.

For now,
Masterjaz out