Trade review 5-28-10

I got a couple picks right:

Hits:

HAUP

Finally! This broke support at 2.80 and now rests at 2.69 after closing down over 4% Let the fun begin...

HEPI

Pullback entry achieved on Friday, this actually gapped down on open, eventually going red to green and finishing up a little less than 1%

QASP

I nailed this one. It started crapping from the gap up 5 minutes before the open of the regular session. It then dived from the bell, opening near the high of the day, fading throughout en route to a 30% red finish.

CVDT

The previous session hod closer over extension play failed to gap up, but since it opened at the high and faded over 10% it is scored as a win.

EHMI

Predictably, this up for no obvious reason at the time equity could not repeat the feat Friday. Yet it did open on a strong gap up of momentum, which proved to be the high. It fell at once en route to a drop of over 7%

Misses:

JEDM

These things can run longer than anyone suspects at times. Small gap up zoomed, faded and sidewinded, powered into the finish, green by over 38%

NBIX

This was all over the map on Friday. It ultimately gapped down, fell, rebounded, then relapsed, but powered up late to go nominally green, before tanking into the close late, en route to a red finish of over 2%

Push:

FORD

This definitely weakened early, opening on a gap down then falling nicely from the gun. It staged a recovery in the last 3 hours, finishing nominally green. It is now down in after hours. The green finished precludes logging this as a win, but its fall and fade lasted so many hours the short was quite possible to execute in and out.

Totals:
Daily record: W-5 L-2 P-1
71%

My unofficial picks were interesting, too:

ABTL

This swing pick finished nominally green after a small gap up open. Support near 1.10 Pullback of sorts to low 1.20s occurred on Friday. As long as it stays above the support noted above, it is a multi-day hold.

BCF

A perfect entry right at the 200 day moving average approaching from below occurred Friday for the short swing play, around 11.82 which proved to be near the daily high. The plan is to hold this for days until it comes back down. A pick returned in a new Stockfetcher scan I am experimenting with. So far so good.


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