Trade review 8-3-10

I got some of these plays correct...

Hits:

CBPO

Nice early fade en route to a red finish of over 2%

POL

Although it opened on a modest gap down, it proved to be near the high also faded nicely early on. It later recovered, but fell into the afternoon close to finish red by over 2%

GERN

This was an excellent call, which was a no brainer entry when it cracked 6 for the shorts. Opening right at 6 and falling immediately, it recovered but offered a second fade play into the close, finishing down by over 5%

Misses:

SWIR

Fortunately, if anyone got squeezed, it was not by very much. A nominal gap down open soon went green and held en route to an up finish of over 1% Most of you probably never entered, as it never looked weak.

AHD

Based on its early price action, it could be argued as a push, but I said to wait for it test 9 and then fade on weakening, so it counts as a loss. It actually opened close to flat, then faded nicely, but after 30 minutes it was all upside and it even took and held 9. Any late faders would have probably had to cover at a loss.

Totals:
Daily record: W-3 L-2
60%

My unofficial play UPWRF opened on a gap down, faded, then mostly rose to finish down 12% but much of that was lost in the gap. I did get the direction right. Most of these unknown cause Pink sheet one day wonders drop on day 2 or so just as this one did. It was possible to make some money on it, I suppose.


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