Trade review 3-25-10

I hit home runs all over the place today:

MSEH

Shares existed and were grabbed early. The stock fell and rewarded patient daring shorts with banked coin.

SSY

I nailed this, probably my number one short, alerting the chat room live on the initial drop and signs. A second entry was later alerted to the room, where most members got in. This kept fading nicely.


SMCE

Flaming death, I hope you found shares, I know I could not and nearly cried.

BEE

This initially panned out as I suspected, failing at 4.50. Then it failed to keep tanking, spiked and died fast but several traders had stops tripped for losses. It resumed its dive for a decent fade.

IFLG

I nailed this and alerted, I think twice live in chat. First on the 6.16 penetration, then on the take out of 6.

NCT

I called this live perfectly, nice set-up, too. But it faded soon after for a classic failed breakout. Instructive!

Read the following article for more insight on shorting failed breakouts:

http://traderbigt.blogspot.com/2010/03/shorting-failed-breakouts-from-3-recent.html

ISCO

Nailed this as it zoomed after it kept control over the 2 level via gap up and run. Faded last 2 hours, but still.

RDCM

Nice slide all day as investors took profits, another nailed call.

Two notable fails, that started out fine and later red synced with the weak Dow/S&P, were PAY and AMCC. Both of these were papered in my unfunded Think or Swim margin account. PAY has decent fundies and is rated a strong buy by Zacks Investment Research, who among other eyes pronounced the depressed shares as oversold, setting up a trading opportunity long! I have been in AMCC since Wednesday, giving up nearly all gains in it, like PAY, in the second half of today.

Keep in mind these swings were REAL stocks, which follow the broader indexes about 3 out 4 times. They do not behave the way penny stocks do, or promoted pennies. They cannot be traded the same way, usually.

I still expect the plays to have green outcomes, unless certain levels are breeched. I obtained the trade idea from a StockFetcher scan variant I describe in this post:

http://traderbigt.blogspot.com/2010/02/alternative-trading-methods-using-real.html

Overall, one of my best days ever in picks and calls, alone or together, since starting this blog!

I made plenty of cash for chat room members.

Sign up at the link below for access and to talk to me live during trading hours in the main window and in PM. I get a lot of these now, so be patient with the response time when trying to Private Message me for analysis.


http://timalerts.com/chatroom/


The blog has a terms of service. Be sure to read it at:


http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html