Trade review 6-21-10

The timed release picks were identical for all three spammers. AMCG was pumped. It gapped up and had nominal upside, finishing up almost 13%, by the numbers, but most of that was lost in the gap.

I got a few of these right...

Hits:

CWLZ

Gap and crap essentially. Faded nicely over 19%

SPRT

Clean breakout. Took 4.50 ceiling out, finished green by over 3% I had a typo in my original list calling this 3.50 but intended the above level, obviously. No resistance level existed at the 3.50 level. Sorry about that!

CAVR

Gap up soon faded decently. Ended down as I hoped for, by over 8%

CVA

Perfect fade, after gapping up. Ended down over 4.5% It was so clean no expert ability was required!

HELI

This opened on a huge gap up then ran a whopping 61% upwards. Most did not try to short as the move was so clearly bullish from the start that the only play was long, no fade entry presented itself. Any scalp from the bell worked out, and the optimists who held really cleaned up. The short on this is going to ripen considerably, but not today. One of the best plays of the session if you saw the greening from the gun and rode it dutifully.

Misses:

BSIC

Gap up, doji print on the daily today. Finished green by nearly 1.5% Still may head south soon, perhaps I was a day or so early, but it might yet happen. Still must be scored as a loss.

ADLR

The timing did not pan out as expected. It continued diving a spell and then gapped up on the next 5 minute candle. Even though it finished green, it must be counted as a loss.

ENTR

Big disappointment. Gap up equal to high crapped at once, finishing red by nearly 6% A miss for me.

Push:

VISN

Arguably a win as I said a long scalp from near the bell, but it faded too much and the upside was not enough to claim a great call, even though it opened near the low of the day. A split decision is in order. Down 5.5%

EMIS

Gap down held support nicely, allowing entry at 3.51 for the opportunistic seeker. It never fell below 3.50 as hoped. I noted this was a pull back play scenario. But I expected more today, and it finished red by nearly 5% Push is the best I can do.

Totals:
Daily record: W-5 L-3 P-2
62%

Unofficial picks went as follows:

AMLM Zoomed up almost 11.5% as hoped.
KATX Kept going, no dump, up 12.5%
ABHI There's our bounce. Up 8%
FSII Gap and crap. Pull back entry possible, it held 4.50 easily despite the red finsh of nearly 2.5%
LEI The floor failed. It finished down by almost 15.5% after a gap and crap.
UPI The floor failed. It finished down by over 9% Gap down open closed below 6 on the day.


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