Wednesday, October 13, 2010

Trade review 10-13-10

I got a couple right today...



In spite of the early sell off, which commenced from the bell, this stock sported a textbook red to green move on advancing volume, 18 being easily taken out from below about 2 hours into the session. I Tweeted this rather late, but it was a classic play. Green close by nearly 15% on the day.


As suspected, this was beginning to be overdone. Save for the 1st useless 5 minute candle, this went green to red early enough for an east fade entry on the cross, which began about 10 minutes in. Uneven price action followed but it still finished red by over 7.5% today. Top fisher shorts probably banked as well.



The party paused on this one as it sold off on lower daily volume compared to the accumulation print, closing red by nearly 1% today. Since it tanked from the bell one could argue no longs were trapped, but I got the timing and direction wrong enough to merit a loss. Possibly today was merely a pull back entry, but oh well.



Finishing unchanged relative to the previous session close, this is arguable as a win given the price intra-day went red, though it recovered to finish even. But the choppy price action merits at best a push, it was green early and not a fade play until it fell beneath the prior day's close. A boring disappointment, truth be told.


Another boring disappointment, the 2nd day of the Supernovae produced essentially a daily doji print, with upper and lower shadows. Arguable as a cheap win since it finished south by over 1.5% today, it merits no better than a push given its choppy price action. The reddening was acquired in the gap down open, as well. Basically it went nowhere on the session with the close only barely below the open.


I get to claim this as a push since it opened at the hod and tanked from the first candle, so literally no longs could have been trapped here. It actually went red to green (!) in the last 1/2 hour, but its north finish by nearly 1.5% does not qualify as a win, given the choppy price action and the fact that all of that greening was acquired in the gap up opening. I think I said to keep flat on immediate sell offs. No play equals a push.


Despite the negative finish here I could claim this as a win easily, since we tested 3 easily with nice from the bell spiking after a gap up open to long scalp into. But the stock soon faded and finished red by nearly 1% on the day. It definitely bounced early, so it merited a play, not leaving it alone. Since it did not play out exactly as I outlined, a push is order, a borderline win, though.

Daily record: W-2 L-1-P-4


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