I got a few picks right...
A tiny bit of noise early when it barely went back above the previous session close, but any stop using the previous day high was maintained, and it mostly cleanly faded into the finish, red by by close to 5% on Friday.
This mostly fell quick, yielding a fade entry. Then it recovered but never above the opening price level. The remainder of the session it mainly fell away into the close, which was red by over 11.5% on the day.
Mission accomplished as this stock yielded a fade on cue, neatly fading from early on, tapering off but still gliding down with sideways price action into the close, which was red by nearly 7% on Friday.
No real spike from the gun here to top fish fade. Worse, the stock faked out shorts twice, falling below the opening price and the previous session close, but recovering 2 times. This was especially the case into the closing bell, as it finished green by a bit over 1% on Friday. The squeezes were minor but losses, in any case.
I could easily argue this as a win, but will not. Green close by less than 1 half of 1 percent. Pathetic. We eventually got a long signal after a bit of early noise ended and it began to trade above its open and the previous session close. It also began to sell off right near 4 as I suspected. It faded into the close once that occurred. I was right about the direction and the 4 distribution, but the long was iffy due to it being a poor scalp on such slow measured moves up, and the day trade was out as it never traded above 4. A push is called for here, given the details.
Despite the miserable failure of a chart pattern on this Bullish Engulfing ETF play, I get to claim a push since I had a conditional entry on it. The equity never traded above 12.95 to enter long, much less 13+, etc. So a flat stance was indicated. Opening on a gap down, the hod was under the above entry price, and it was not a short, so it was a wash. Sometimes, even seemingly good easy picks fail, especially if they are ETFs! Now you know why I prefer penny stocks to anything "real"...it is the general predictability.
Daily record: W-3 L-1-P-2
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: