Thursday, October 28, 2010

Trade review 10-28-10

I got a few picks right today...



I nailed this play short, which opened on a nominal gap down near the hod and fell evenly all day into the close, which was red by over 26% today.


Mission accomplished as this morning panicked its way out of the gate, yielding a short scalp entry. It recovered, but failed to go green and re-tanked into the close, which was negative by over 19.5% today.



Unfortunately, this is a loss at it faked out reasonably optimistic shorts after going green to red then back again, and the dip was not for enough dough to just cover, finally finishing green by over 3% today.


I would like to claim this as a win, but cannot because of the whipsaw price action. Would be shorts were faked out not once, but twice. Opening on a gap up, this went green to red but it did not last, it hugged close to the flat line then went back under again more convincingly, but rebounded again, especially into the close, which was green by over 6% today. These moves could have lost money, at least in theory, and my timing was off, so it must be considered a loss.



Fortunately, I get to claim a push here as this never faltered and presented no weakness cues to fade into. Opening on a modest gap up near the lod, it mostly advanced gently and steadily into the close, which was up nearly 4% today. The price action suggested a flat stance, despite the outcome, given its over extension.


A push that looks like a loss, this dumped on heavy volume from the first 5 minute candle even and showed no reason to whatsoever enter long as I had hoped. I doubt any Bulls were trapped. I suspect all of my subscribers remained flat, but obviously disappointed, in the ill-fated break out continuation. Red close by over 2.5% today. Opened on a modest gap up near the hod that crapped at once to spoil the party.


A push by default as apparently this stock did not trade at all today. Not sure if it got halted or whatever, but I am not seeing any new movement on it today, or a change from the previous close. Either way, a tie result.

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


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Michael Goode said...

NXPND is now NXPN.

Big T said...

Thanks Michael.

I guess I got the direction right for the 28th early on and the color of the close, but the goof deserves no better than a tie, LOL.