Trade review 7-30-10

I got a few correct:

Hits:

MBCI

This gradually yielded more down side action for the shorts en route to a red finish of nearly 11.5%

NEWP

A big early mover upper, the price action was obvious for the longs from near the gun. Story lines like this one are often in play both ways when the news is fresh. You have to gauge the herd sentiment in a timely manner.

Misses:

DNN

I had hoped this would test support with additional fading, but it rose by less than 1% It may take out the recent 1.62 high sooner than I expected. Eventually I still see this going higher.

RMTR

Yes, it finished down, but that was all present in a gap open more or less, and it rose kind of as the day wore on. Since it never matched my planned scenarios, I hope most of you never entered for a fade play.

Push:

CRWN

Alright, it fell over 19% but too much of that came in a gap down open. It did go red to green in the first 2 hours, but not in a manner that inspired. Still lacking clear news, the fade near the end at best merits a push as many would have exited earlier on the upward momentum. Up after hours, too. This is still on my radar, though. I can hardly assume this will keep advancing on no new news, so I am watching this for reddening.

Totals:
Daily record: W-2 L-2 P-1
50%

My unofficial picks were a mostly successful bunch: ENTR yielded a pull back entry on a move below the mid 7.50's with a move above it on the rebound, HSWI opened at the high on a gap down but profit takers piled in and it finished down by over 14% after a nice early dump fest, while TRW opened on a gap down and flew most the way to finish green by over 3% but it is now really at resistance. I may have been a day early. If short, I would hold on until 35.30+ is convincingly taken out. The stock is down in after hours.


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