Trade review 8-19-10

I got some of the plays correct...

Hits:

BSDM

I guess cancer is profit taken too. Nice fade after opening near the high en route to a nearly 20% down day on yesterday's Supernovae play.

MJNA

Nice near test and fail of yesterday's Tweezer tops, en route to an acceptable red finish of less than 5%

WAMUQ

Nice fade play as 0.23 essentially held with multiple attempts at tops and a good early dive. Finished down by less than 4% but it played out clearly enough.

HAUP

As predicted, day 2 was a dud. Seems like it cannot hold its one day moves up, and today was no exception as it faded cleanly and nicely from near the open, en route to a red finish of over 8%

Misses:

GBG

Yes, you could argue a pull back entry was accomplished, but it sported a fake out of the breakout, failing a continuation. True, it held 2, actually 2.04, but enough was wrong in my predictions to merit a loss here. It also finished down by over 2%

YNGFF

Yeah, it finished green by over 7% and while I did say it was a long over 0.60 and it did close above that, much of the greening came from the gap up and I liked it mostly as a short. Sort of a Tweezer top here. It did not really build upon the 0.60+ prices or close, so the best that can be claimed here is a push, but all things considered it probably deserves to be scored as a loss.

Push: None.

Totals:
Daily record: W-4 L-2 P-0
66%

I have really been falling down on the job lately, I forgot to suggest HELI for this watch list as a short continuation. It kept reddening a second day, and it was an obvious call in my opinion. Sincere apologies!


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