Wednesday, September 08, 2010

Trade review 9-8-10

I got some of 'em right...



Perfect call and play! Opening near the hod, this beautiful short from over extension fell over 19.5% and proves my theory about patiently waiting for the distribution day, clued in by weakness cues...


Took and held 2.40 early and often, with gentle side grinding upside action most of the day. Green by  2.5% after opening at the lod.


An instructive play. After opening essentially flat to barely red, it went green very fast. This was a fake out, as 30 minutes in it went green to red and yielded an excellent fade entry, which went on for hours. Rallied off the lows into the close, but still finished red by over 21.5% A stock that starts green and goes red is usually showing blood in the water.


Very nice tank fest all day, en route to a red finish of over 51% after opening essentially flat, it morning panicked.


Perfect short here, students of trading take note! This opened at the hod on a reasonably tolerable sized gap up, then soon went green to red, fading the rest of the session steadily, en route to a down close of over 13%



Gap up a bit and crapped out of the open. Unfortunately it soon rose steadily all day to finish green again, this time by somewhat over 2% Not easy to fade that move due to the price action, so a loss it is.


Gapping up, this went green to red but soon faked out shorts. Green to red again followed, with a barely green finish of less than 1% so in light of the chaotic price action and possible stop outs, this is a loss for me.


Hard to figure this one. Opening on an uncomfortably sizable gap down, it closed at the same price for a daily doji print. It fell initially, filled the gap and actually went nominally green, then re-faded going red on the day briefly, only to rise into the afternoon and close to finish where it started. All things considered, a loss is the correct record as the fake outs in either direction could have lost a bit of money. Red finish by 5.5%



Gap down open at the hod never allowed an entry. Stock never saw 1.41+ much less 1.50+ and holding, so a push is called for here. Red by over 2%


The stock opened at the hod, then, 12 minutes in, it nose dived in one huge red candle, then went sideways much of the rest of the way. The price from top to bottom occurred in one 1 minute stick, which means you probably could not have caught the falling knife unless you had boxed and dropped. Green close, despite finishing lower than it opened (due to the gap up) by nearly 4.5% No play was possible here, so a push.


I liked this as a long, and it really expanded on the breakout today, although it insanely gapped up too much. High wave stick print on the daily, though, so it might see some profit taking soon. But if you entered after the first 5 minutes and held after it started to reverse, you lost money. On paper, up by over 10% but in real world terms the best I can claim is a push here. It closed lower than it opened, with most that gain lost in the gap. You could have still made money by a conservative exit when it began to clearly turn around, though.

Daily record: W-5 L-3-P-3

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