Trade review 6-14-10

Penny Stocks Finder chose MFGD as their gimmicky timed release play. Nominal upside followed then slow sideways down tilting price action ensued. The gap up open allowed it to finish up over 6.5%, but it was nothing special. I hope these are not drying up, but I sadly fear they might be. We need more of these!

I got a couple right:

Hits:

QCC

Flat open was unsurprising, and it faded as suspected. It broke 1.40 en route to a -3%+ finish for the shorts.

PBTH

This had a fade play on the fake out breakout out of the open, but provided a nice green to red short entry that kept fading en route to a red finish of over 3% Patience is a virtue on these plays, for stalking shorts.

ELRA

See my comments from last time, they proved to be dead spot on. After gapping up on open at the hod, it tanked the rest of the way en rout to a down finish of over 16.5%

HKN

It opened on a gap up, as predicted. This proved to be near the hod. It began selling off just before the open and the morning panic that followed was a possible short. It later gradually recovered somewhat, but still finished down by over 3% Covering when it began to stabilize would have banked even more coin.

SSWC

This faded from the bell as suspected. Hard to borrow or use for the short due to the share price issue, but a more conservative cover when it began to recover would have banked more coin. Finished down over 3.5%

SUWN

Gap up open in spades! Closed on hod again! This exploded in premarket and even buying the highs there banked coin for the patient, if they held during the correction of the first 30 minutes into the close. Up over 13.5% for the longs today.

Misses:

APWR

A big letdown, this number did not hold 9, let alone 9.50. Anyone taking the trade was stopped out as it easily took out the previous session low of 8.85, finishing at 8.53 and down over 6%

MMPIQ

Yeah, it gapped up on open. Yeah, it actually faded early and could have been shorted. Any conservative cover might have banked coin. But no credit as it overtook 0.20 and finished screaming green, to squeeze.

Push:

BGP

This was ultimately all over the map, but finished unchanged. It started obviously strong, then faded, so a long was possible as opined, with risks. The totality of it suggests scoring it as a push.

NSU

All over the map ultimately, finishing unchanged. For the longs it had early above 3.50 action, but it failed to hold its gains. It did sport a mid session green to red fade of inconsequential significance, breaking 3.50  but the moves taken altogether justify only a push result at best.

Totals:
Daily record: W-6 L-2 P-2  
75%


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