Trade review 8-26-10

I got some of these plays right...

Hits:

FLWS

Instructive play. Some early lackluster strength may have been scalpable, but the fall below 1.65 mid session was a classic signal to fade this, which panned out. Red finish by over 4.5% The selling was not over!

RPRX

This topped out at exactly the high of the previous session, failing a test of 0.69 then fading much of the rest of the way, en route to a down finish of over 3%

ASB

Another easy money play, this opened on a gap up, then crapped. The opening price was equal to the hod. True, it provided no spiking for the longs, but it was a fade cue entry once it fell below 0.42 (the opening price) AND for more conservative souls, when it fell below the previous closing price, (0.33) both events occurring by lunch. Closed south by over 9%

DAKT

More greening right from the bell, this finished nominally green (by less than 1%) even after it faded much of the rest of the way from the early moves up in the first 30 minutes. New 52's also were achieved, and bested, but they did not sustain, and the stock finished near the high on the 24th. Early moves up as suggested were scalp friendly. Many could have exited with more gains that it finished with on paper.

Misses:

CWTR

Proof that there is no such things as a sure thing in the stock market! Gap down which faded most of the way en route to a negative close of over 8% so it is a clear loss as I predicted more greening.

VGZ

A very resilient stock lately, but not today. No real spiking, it began to slide early and continued to gently down trend, en route to a red finish of over 3% so a loss is the proper result here for me.

SOMX

Because I do not fudge my numbers on pick outcomes, I must score this as a loss, even though it did provide some early green action to scalp. I saw this mostly as a short, and it did not play out to the scenarios I suggested. The gap up (not flat) did not falter and the early moves up did not come on a gap down. Green by nearly 6% but a loss all the same.

Push:

PCBC

What the @!$%&* happened here? TooNiceStocks reported today that no obvious news fueled this overnight gap down the size of the Grand Canyon. Obviously, I had know way of knowing that when I listed it last night, and it screwed up the session before it began. As I predicted a possible spike and long scalp entry, which did pan out nicely, I can try to claim a push here. The stock moved up right from the gun, in true dead cat bounce fashion. It did not fill the gap, but it worked as a short term long. All bets are off now, on it.

Totals:
Daily record: W-4 L-3-P-1
57%
 

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