Trade review 7-29-10

I got a number of these plays right:

Hits:

MCBI

Supernovae popped on schedule en route to a down finish of 12.5%

EXAS

Early fall under the previous close en route to a red finish gentle fade of close to 3%

DNN

Profit taking fade panned out today, down over 2.5% This could easily power higher over the next week.

Misses:

PTSC

This appears to be another win due to the negative finish of over 8.5% but that is deceiving as most of it was lost in a gap down and it had mostly sideways price action for much of the session. None of the scenarios I mentioned were obvious, practical, or clean, so it must be scored as a loss.

Push:

ISCO

Did not exactly test 1.40 but faded cleanly enough to be a short most of you should have caught if you follow my methods and mentality. Still, I consider this a push due to it not quite testing it before the nice fade of over 8.5% The high today was 1.37

Totals:
Daily record: W-3 L-1 P-1
75%

My unofficial picks also mostly panned out for the shorts, as hoped for. IOSA death dropped  early over 17% while HABE finished unchaged for the push, but CBWP tanked nicely from near the gun to fall over 29% by the close.



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