I got a few of these plays right...
Hits:
BRNZ
Gap up and crap somewhat near highs to open, then tank city in the afternoon in a perfect fade. Fell over 34%
MVIS
Nominal red finish, weakly tested 3.50 area. Shorts succeeded in theory but no more, and many are probably still in this, waiting to cover after more down side. Down less than 1%
ULU
Gap down rose perfectly to the previous close, then re-fell in a dandy fade to finish red by over 15%
Misses:
STHG
We never got that panic, as this ran up even more, to the tune of over 37.5% A loss.
EMIS
A failed chart pattern, on steroids. This opened at 3.50, but that was the high. It gradually faded and accelerated that sell off into the close, en route to a red finish of over 8.5% Alert blog readers know that a failed chart pattern is one of the most reliable signals. Once 3.50 died, it was a great short, but I did not call it correctly so it is scored as a loss.
AMEL
It nearly tested a dollar, but that came in the gap up. It faded most of the way thereafter, so it's a loss. Down by over 4%
Push:
BVF
Technically this worked for scalp out of the open, but it soon faded. It recovered, but its gap down open was hardly convincing. At best, a push. Down a bit over 1%
ETRM
We got our gap, and it showed a bit of early upward momentum before fading. Green finish by nearly 4% does not truly invalidate the call. Could best be described as a push.
Totals:
Daily record: W-3 L-3 P-2
50%
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2 comments:
why was EMIS a "failed chart pattern" ?
also what chart software do you use, I use TD ameritrade and EMIS shows two candles all day, the rrest look like specks!
EMIS is a failed chart pattern because 3.50 was prior resistance on the daily chart that had become new support, which was broken by the steady drop below that new floor.
I use more than one quote source, (advisable) including Ameritrade. More than two 5 minute candles appeared intraday on this stock, in fact. Check your settings as a starting point, in terms of time periods used...
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