Trade review 3-8-10

There were some winning calls from last night:

GLRP was a nice green to red fader, on its second day in the spotlight after the monster day on Friday. I do not think any shares were at IB when I needed them.

SCLX gapped to open above  resistance at .70. It hit like .95 but gradually faded, finishing above new support at .70.

MCGI was a perfect afternoon fade, in the Sykes tradition. No shares at IB, but I tried to play this for real.

SCOK faded gloriously all day, no shares at IB, preventing any plays.

STTN moved slowly up, but failed to take out .60, finishing at like .55.

I tried to short sell (for real) TIVO early when it faded out of the box. I failed to get a timely limit order fill and the price zoomed too low for comfort, so I cancelled my order altogether. Soon after, it gradually climbed up.

I thought Sykes (and plenty of of his subscribers) had covered a losing trade short on ZANE in the first 22 minutes of the session, but I was not sure. No cover alert was evident, so I debated overly much the idea of going long on an attendant bounce. He likes to say his covers are buy signals, after all!

It turned out he had not covered, but being unsure here I papered it long, getting in a bit late, then I sold on what looked like a failed scalp, only to see the stock zoom into the heavens, in what would have been a huge gain. The later moves turned out to be his true cover point, but I did not know that at the time... 

BOT   200    ZANE    Stock    2.539    USD    ISLAND    08:52:01        1.00
SLD   200    ZANE    Stock    2.563    USD    ISLAND    08:52:37        1.00


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