NFG: 16 June, 2008

(Paper Trade)

NFG


[Market Sentiment]
- Market in currently quite indecisive
- but from the look of it, there's still room before hitting immediate resistance

[Feeling]
Feel great today, as I just completed my 1st review last nite.
Everything seems to be very clear to me right now.
I'm back on course, and abiding strictly to my trading plans/rules.

[Weekly Chart]

[Daily Chart]



[Hourly Chart]


[Action Plan]
- Buy if price is above yesterday's close, 58.63
- Stop Lost as previous swing's low - 15cent, at 57.24
- Target: 64.41
- Channel: 6.95
---------------------
- Risk: 1.39
- Reward: 4.17
- RRR: 3
---------------------
- This month's allowable 1% risk = $45
- Position Sizing = 32

[Trade Management]
- Move SL to breakeven when price hit 1R.
- Move SL to 1R when price hit 2R.
- From here on, trail SL at previous day's low.
- R scale: 57.24,58.63,60.02,61.41,62.8,64.19
____________________________________________________



17 June, 2008 (paper trade)
- Entered LONG 32 x NFG at $58.63


18 June, 2008
- SL no change. Remain at 57.24.
- Market posted lost on 2 previous days. NFG posted slight gain.
- I think we are good at this counter.


20 June, 2008
- SL no change. Remain at 57.24.

25 June, 2008
- Stopped out at 57.24.
- -1R lost.

================================================
[Summary]
Risk: 1.39
Reward: -1.39
RRR: -1R
---------------------
Channel: -
Rating: -
Grade: F
--------------------
================================================