Sunday, October 17, 2010

Trade review 10-15-10

I got a few of these things right...



Opening on a gap up, this played out well for the shorts. It fell under 20 after the initial 5 minute candle, then faded all day into the close, which was down over 4% on Friday. Well overdue for a distribution print.


Barely claimable as a win. Gap up sold off in the first couple of minutes, then the nominally red equity went green about 8 minutes in, yielding a long. The stock later fell under 7.50 but most longs probably were not stopped out as it never fell under the opening price level or the previous close once the entry signal arrived. Closed green by over 4.5% and up a bit more after hours. Choppy price action, but essentially an in line call.



A loss as it faked out longs early on after the first 5 minutes of the session, going red to green and then failing to hold 13. The stock floundered the rest of the way, closing down over 4% on Friday instead of up. Anyone entering on the buy signal of a new high over Thursday lost money.


Another gap and crap, this opened well up but while it finished unchanged I am counting the pick as a loss since I thought it had a bit more life left and I said to remain flat if it weakened. I got the direction and timing wrong, the loss being cinched by the early fake out for longs after the first 5 minutes of the session when it sported prices above the open and the previous close but soon headed south, trapping over eager Bulls who entered on minute 6. The gap filled to the unchanged point by the end of the day, but Bears were in charge.



Arguably a win as in finished well off its highs from intra-day, this opened at the lod and never sported a clear weakness cue, suggestive of a flat stance as it began advancing up early. Green by over 10.5% on Friday.


Significant gap up negated short entry, but it did finish lower than it opened. Some shorts probably banked as it never really advanced, gradually fading into the close. The stock traded under its opening price within the first 10 minutes and never looked back. Arguably a win, but its green close by nearly 2.5% forbids that, even though all of that was achieved on the gap and crap.


I would like to claim this as a win, since it finished green by over 6% on Friday. Gapping up, it crapped early, but gradually recovered and even went positive in the last hour of trading. I got the direction and rough timing right, but the scenario did not play out as I outlined. Worth a push, but no more.

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


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