Trade review 11-1-10

I got a few picks correct today...

Hits:

FRZ

Opening on a gap down somewhat near the lod, this spiked about 5 minutes in up, as I suspected, then it went green to red, yielding a nice fade entry on that clear weakness cue. Closed red by over 13.5% today with easy price action on the eyes.

EK

This worked both ways, first opening on a gap up that flirted with the previous session high, although it never saw 4.94, much less 5 for a really good long scalp. Then tank city, going green to red nicely with even dumping until the close, which was negative by nearly 4% today.

CLRA

Opening flat, this went up immediately, but obviously no sane short entered yet. Then it went nicely green to red, yielding our weakness cue entry signal. It dumped the rest of the way, closing down nearly 46.5% today.

NXPN

Another easy play, this promotion opened 1 cent above flat, then it soon tanked. Nice reddening that tapered off and went sideways into the finish once the damage had already been done. Closed red by nearly 19% today.

Misses:

RITT

A loss as this closed higher than it opened and I was short biased. The whipsaw was in effect as this opened gapping down, which kept going, resulting in the stock trading below its opening price signal. However, it reversed and traded higher into the finish. True, it never went green, closing down by almost 2.5% today, but I was too wrong here to claim anything other than a loss.

GSL

Opening on a gap up, this soon went green to red, but it did not last, faking out shorts which could easily have lost money on the whipsaw. It never looked back and advanced the rest of the way into the close, which was green by over 5% today.

Push:

TRXAQ

No play on this or its twin TRXBQ as they both opened near the lod and never weakened, though they both began on gap downs. These soon went green and never looked back. Our pick closed up over 23% today. As no weakness cue of any merit surfaced, a flat stance was suggested. Too late (in theory) for long entries.

MCVE

This opened on a gap up near the lod and never looked back, closing green by 100% today. I guess I am going public. No play, obviously. Long obviously worked, but buying something already up 300, now 400 percent is not exactly my cup of tea.

Totals:
Daily record: W-4 L-2-P-2
66%

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