Trade review 2-25-10

No trades.

I really dropped the ball on IFLG for a LONG short cover rally bounce. As Timothy Sykes often says, his covers on big plays are often buy signals. Once several began to cover at the lows of the session, a classic domino effect occurred as stops on the way up were triggered for shorts who ran the stock on the way down.

This would not have required share reservation or borrows, and happens on Supernovae plays routinely when panic short covering manifests, often fueled by stop losses being taken out on the way back up. Remember this! Often, one succumbs to the fallacy that with no shares to short, no play exists, but this is usually not true.

I made some good calls in my picks from last time, including NNVC, which broke out modestly over the key 1.30 level on some volume early. This may keep going if the new support holds.  PVCT had some nice semi morning panic and faded as predicted. LTXC, a red to green breakout that took out 2.86 as hoped for late in the session, played out nicely. AGYS also played out as a red to green, hitting 11s as suspected.


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