Thursday, October 07, 2010

Trade review 10-7-10

I got some of these things right...



Classic dump near lunch and fade into the close, en route to a red finish of nearly 34% today.


Gap up proved to be the hod, then it tanked fast and recovered, re-tanking into the finish cleanly. Red by over 21% on the day. Once we took out the previous session closing price from above, it was a cue signal.


Easy long win here as it tested 8 and then some, opening at the lod though below 8. It took and held that and was then a clear hold (long) day trade as I explained last time. Also kind of zoomed out of the gate for the green scalp. Closed up by over 7% on the session.


Easy long scalp on the initial spiking, as suspected. Closed well off of the highs today, not a surprise. Sported a nice profit booking dump into the close, as well. Closed green by over 1% when it was all said and done.



I thought this might begin to falter soon, but not immediately. Gap down made shorting a bit problematic. I was wrong about the direction and timing, ultimately. Worse, the stock traded above its previous session high so some could have been stopped out, despite the red finish of over 3% today.


This gave a clear shorting signal when, after a gap up, it went green to red falling below the previous session close. However, I saw it as more of a short term long possibility. Remember live price action is key. That trumps all. Down over 4% today.



I could easily call this a cheesy win, as I favored some distribution and it closed red by over 1.5% today, but I will not. It was a tale of two sessions, with early up moves and an afternoon fade of sorts. Certainly, we did get a clear weakness cue when it fell under the previous close, and stayed there, but it hardly spiked from the bell, either. I got the ultimate direction right, but its price action was too dual personality for full credit.

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


Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: