Trade review 11-24-10

I got a couple plays correct here...

Hits:

PWRM

Opening at the hod on a gap down, this gradually faded as profits were taken. Red by over 22.5% on Wednesday.

AFFY

Quite strong early, and even though it faded into the finish, it was still higher than it opened. 7.50 was tested, held and exceeded. Green close by over 3.5% on Wednesday.

IMDS

A great scalp with nice greening worked out as predicted. This happened pretty early on. It faded, dipping negative a bit right near the finish, but rebounded to close green by over 7% on Wednesday.

MRVC

Nice pull back entry as 1.45 held. This proved to be the lod and it rose to the flat line and kept moving sideways but perked into the close to finish barely green for the cheap win. It really moved up well Friday, vindicating patient long swings, by the way. It did not reach 1.60 on Wednesday but it did on Friday.

Misses:

HHWW

A loss since a fake out occurred after the first 5 minutes which rebounded, possibly trapping shorts. They were not squeezed too bad, though. Closed green by over 3% on Wednesday. Be patient, its time is coming.

Push:

ASTC

A split decision here as while I preferred the long scenario and it opened on a gap up, that proved to be the hod and the short was a top fishing expedition as I predicted. It tanked well enough, closing red by over 13.5% on Wednesday.

AH

Another split decision here. Opening on a gap up, it rose for 15 minutes, fell a bit, leveled off and stayed the course until fading into the close. But while I got the direction right and the late decay was nice, it was red by less than 1 half of 1 percent. I could claim a cheap win arguably, but this is probably fairer.

DY

This began promising on a gap up and probably most early longs escaped with some money before it corrected, but it dipped negative at one point. It rebounded to finish unchanged relative to the open with a daily doji the green close of not much less than 2% being lost in the gap. A split decision is in order here.

Totals:
Daily record: W-4 L-1-P-3
80%

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