Some of our play calls were winners:
XFN
This more or less morning panicked its way out of the gate then slid into the close for a nice short.
CPWM
The spot situation scalp continued its slide into the mud with a big down day for the shorts.
MSEH
This kept going up in a modest daily candle, as suspected. Watch out when this dumps, it will die fast.
NLS
This had a modest down day for shorts. Big dive early.
EXAS
The breakout continued modestly, after giving longs the pullback early to the 4.50s for an entry as I hoped for.
GTN
Went down timidly, giving shorts a bit of banked coin.
No trades for me.
I overslept and missed plenty of good trades, some of which I listed above. A huge morning spike short cover pain rally also occurred in ZANE, making for a great long, which also occurred later, but I missed that by being busy on the internet and typing while watching the last hour or so with one eye open.
This failed morning panic as expected on ZANE, predictably led to the spike. Confirmation came in the form of much bigger volume on the spikes today than in the previous two sessions, buttressed by long consolidation above the key 3.00 support level. This is a valuable lesson for inflexible traders, long or short. You must adapt to changing market/equity conditions. Those who do will make it in this game, it is just that simple.
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