Trade review 11-2-10

I got a few plays right on Tuesday, 11/2/10...

Hits:

TRXAQ

An easy fade as this never took out the previous session high on any rises and it gradually fell away, accelerating into the close, which was red by over 9% on Tuesday.

PUCCF

Opening on a gap down, this was an easy fade whose up moves never moved too much and soon went green to red and stayed there, tapering down into the close to finish red by over 20% on Tuesday.

CPMCF

The top fishing fade worked here, but it was not essential as a nice green to red kept tanking, lasting into the close, which was red by a considerable margin on Tuesday.

KSP

A gap up quickly sold off, but soon went red to green for good, playing out almost to script. The rise continued nicely into the close, which was green by over 10.5% on Tuesday.

Misses:

NTE

I got the direction wrong enough here to warrant a loss. True, the stock briefly hit new highs but it failed to hold them. Spiking is not the word I would have used to describe the approach to them. Closed red by less than a half of a percent. Shorts were also faked out a time or two here as it went red but rebounded, etc.

NXPN

Not being interested in a long proved incorrect here. Opening near the lod on a gap up, it just advanced all day, closing green by 10% on Tuesday. We never went red, but the call was mistimed.

Push:

GSL

Opening on a big gap up, this was never in play, though it did fall below from its opening price. It never went red at any time to provide a play. Closed higher than it opened, which was green by over 5.5% on Tuesday. Some of that was lost in the gap up.

MCVE

Enormous gap up prevented a play. True, it closed lower than it opened, but it never went red at any time. It finished off of its lows, and green by 20% o Tuesday, much of which was lost in the hefty gap up.

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

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