Wednesday, September 29, 2010

Trade review 9-29-10

I got a couple picks right...



Nice easy tank fest right from the open where it printed the hod. Nominal gap up went green to red fast. It tried to recover but still finished red by over 5% today.


Gap up very close to the hod soon went green to red and faded nicely for the first 1.5 hours. It tried to recover but still finished red by 3% on the day.


Another electric bill playing bore fest of a short, this one opened flat relative to the previous session close then gently nodded off for the first 1.5 hours. It tried to recover, but still finished red by over 2% today.



A loss since I saw it mostly as a long and it faked shorts out when it fell below the opening price and the previous session close, but rebounded to finish green by less than 1% on the day. The slight gap up soon went green to red about 30 minutes in, which probably whipsawed a few traders. The cost was very small, though.


I would like to claim this as a push for being half right. It sadly opened on a gap down. This means EOD traders were in the hole from the open a bit. Most of my subscribers were not in from the previous session. But it happily zoomed from the bell for the long spike scalp. The hod proved, as it often does in such cases, to be exactly the previous session high and of course, the close. Since it finished red by over 2% today, a win cannot be claimed. Unless you exited early on the scalp, you lost money. I could argue that since it never traded above the previous close and consequently the previous session high, that nobody should have been long. Fair enough. But I was wrong enough about the direction to merit a negative result here, to be honest.



This opened on a bit of a gap down, but just went sideways all day. It finished unchanged, hence a push.

Daily record: W-3 L-2-P-1


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