Trade review 10-11-10

I got a couple of these picks right...

Hits:

VIDA

This played out near perfectly. Opening on a modest gap down, it faded from near the start all day evenly into the close, en route to a red finish of over 42% today.

LRAD

Stock looked strong from the get go, and broke 2 into the close for the long. Green by over 10.5% today. Most folks probably expected another fail at 2, so when it went over that was a clear buy signal, since failed chart patterns according to crowd expectation are some of the most reliable entries.

Misses:

GROW

Whipsaw loss as this gave a standard weakness cue but rebounded. Opening on a modest gap up, it fell under the opening price and the previous session close in the 1st 30 minutes but after the noise happy 1st 5, and finished green by over 1.5% today. A classic failed trade that could have squeezed shorts and lost.

NCT

Another whipsawing loser that could almost on paper be claimed as a win, since intra-day it tumbled early, trading below the previous session close and even the Friday lod. It eventually went green and tapered off into the close, but finished up by less than 1 half of 1 percent. Timing, direction, choppiness, etc. merit a loss.

Push:

DRIFF

Essentially no print. I am not sure how this made my list, as looking at the chart it is such a candidate, and I do not assume a halt occurred. A push on no play or action at all, but also an apology for inclusion.

GNOLF

Supernovae play opened on a gap up, never looked really weak, at best intra-day touching but not exceeding below the previous session close. No clear cue signal existed, suggesting a flat stance. Green by over 7% today. A typical example of the reason why folks like to box and drop these plays, the timing and share availability is harder than it looks at first glance. A push on no play.

GKK

Hefty gap down open negated a safe short entry, then zoomed north almost at once, with a token lod printing in the useless first 5 minutes and red to green within 8 minutes. The price action suggested staying flat, since no clear weakness cues surfaced and I specified no longs. No profit taking yet, and it is even up now after hours. Green by over 13.5% on the day.

Totals:
Daily record: W-2 L-2-P-3
50%

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