Thursday, September 30, 2010

Trade review 9-30-10

I managed to get a few calls correct...



More dumping from the bell. A lot less hurried than true morning panic, but obvious enough. It rebounded like several stocks on my list for today, but not enough to finish green. An easy short play. Down close to 3% by the close. We never got the bounce, but the fade was such a gimmie I posted about it before the close!


This is at a win (and surely no less than a push) since even though in the second half of the day it came all the way back from the dead in a very rare green to red and back to green again, nobody would have held all the way back to a losing trade since it took hours and it faded from the gun going green to red in a textbook short entry which also lasted hours. By the time it began to recover, literally everyone must have been flat and had booked a soundly winning play. Up by less than 1% at the close.



A loss since although it opened green, it gradually faded and actually went red, then gradually bounced back to finish positive, possibly faking out some shorts into losing a small amount of money, since the squeeze was never that extreme. It is possible some shorts are still in this, as the hod for stop placement was only equal to but not above the previous session high, printing at 4.85 each time. Closed green by nearly 1.5% today.


Another fake out loser, the stock opened somewhat green and drifted steadily south for a few hours before gradually recovering to finish positive. I could argue this as a win like NSPH but it was not so obvious an exit where it can reasonably be assumed most would have made money on a short cover during the recovery, since it did not fall so steeply. Closed north by nearly 4% today. Since the stock traded intraday below its opening price and the previous close, a loss is only fair on such a whipsaw.



Opening at the hod on a gap up, this one failed to deliver for the bulls. A gap and crap. A push despite finishing south by almost 6.5% as it began tanking from the bell, not showing any bullish price action and I said remain flat in such a case. So it is also not a win. This is why you typically never enter a market order (buy or sell) or any kind of play in the first 1 to 5 minutes of trading. You are flying blind, noise is too rampant initially.


Another one that looked strong from the start, this one opened on a gap up and kept going modestly up and then sideways from the start, never providing a a clear shorting cue signal. I assume most of you stayed flat, as I would have with such immediate price action. Up over 4% and the stock never traded below the previous session close, either. Not the greatest red floater set up, as I said last night. A push on a flat stance outcome.


Although a better red floater than NPD was, this also looked strong from the gun, suggesting no action, and hence, a push. A gap up, it proved to be the lod and it never traded below its opening price, much less the previous close, so no clear weakness cue could be traded, one could only remain flat.

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


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