Trade review 11-26-10

I got a couple plays right...

Hits:

GRYO

I really aced this. Opening on a gap up, this marched up to into the close, green by almost 67% on Friday.

AAU

A cheap win since it faded after the big early rise, this was a great scalp as predicted once the first risky 5 minute candle expired. Closed higher than it opened, but net negative barely due to a gap down open, coupled with a close well off the highs of the scalping opportunity.

Misses:

WRES

I would like to claim a win here, as the gap down open soon went green, but longs experienced a fake out when it went red early and came storming back green, finishing the day up nearly 2.5% on Friday. Whipsaws are fairly described as losses if they involve price action like this.

AFFY

Opening on a gap down, this soon went green, but it fell back under 7.50 after seeming to conquer it. The whipsaw continued and it finished nominally green. Such misleading price action merits a loss.

MCZ

We opened on a gap down and did go green nicely, but it could not hold its gains. Faded into the close, which was red by over 2.5% on Friday. Conservative longs might have banked, but this deserves a loss.

Push:

HHWW

A no play push as the beat went on yet again. Opening on a gap up, it never went red, only at worst touching the previous close price, so no entry presented itself. Green by less than 1.5% on Friday. Will tumble soon.

MITK

Daily doji print close, finishing unchanged from the open on the day. This fell for a few minutes out of the open, probably without trapping any hopeful longs, since it never got over 4 even. Then it zoomed over that nicely before later on fading into the close to go nowhere on Friday. A push result is called for here.

Totals:
Daily record: W-2 L-3-P-2
40%

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