Trade review 8-4-10

I got a few of these things right...

Hits:

FVE

Strength early and obviously pronounced, this proved to be a good long, in spite of the risky entry after already advancing for days. Green close by over 6%

MDCO

This weakened early for an obvious fade without a spike, gently down sloping the rest of the way, en route to a red finish of over 5.5%

Misses:

DSTI

Yeah, the prices came together, but into the close on big volume some buying, probably massive short covering, powered this junk heaper to close green by nearly 10% The good news is we never got a clear entry signal to fade it given the price levels, so most of my subscribers avoided the squeeze. Still, a clear loss.

Push:

NVMI

A tale of 2 session periods! Opening on a gap up, it soon went red, cracking 6, yielding a fade entry. Conservative covers exiting at lunch time won modest bucks, but it was all up side from there retaking 6 and finishing green by over 4% As such, 2 plays existed in terms of clear entry signals. A push is a fair outcome.

AZC

Nothing but upside from the gun, until it retested and failed at exactly 2.40 again! We hit 2.26 then rose again, failing a bit lower than the above mentioned exact ceiling. Red finish by over 2.5% after it re-faded. A push.

Totals:
Daily record: W-2 L-1 P-2
66%


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