Trade review 12-13-10

I got a few picks right today...

Hits:

HHWW

Finally!!! Hope you got shares. This died when the big money support caved in and shorts feasted, finishing red by over 56.5% today. Opening on a gap down, it traded sideways until lunch, then it collapsed furiously until it mercifully ended. Plays like these are a short seller's ultimate dream fantasy!

PZG

New idiots indeed arrived to scalp. Although it had high wave stick shadows on both ends of the candlestick, it closed higher than it opened, so not all of it was lost in the gap which was up. Closed green by over 9.5% today. The action started from the gun, moving up the first hour. It corrected, but still stayed positive.

YCKM

Another nice one, this opened on a gap down, and the bounce never exceeded the previous session close. It fell right off the bat, then moved sideways most of the way, en route to a red close of over 33% today.

TNGS

Mission accomplished here. Just like NXTH or HHWW this stock just keeps advancing slowly up artificially. Soon the party will end, as it did today for HHWW but not yet for this one, as I suspected. Opening on a gap up, it gradually climbed all day, greening into the close, which was north by more than 10% today.

EPCT

Opening on a big gap down, this fade panicked nicely from the gun, eventually recovering. It traded sideways into the close, which was red by nearly 14.5% today. Some of that was lost in the gap but not all of it, as it closed lower than it opened. The finish was well off of the lows, but still red enough.

Misses:

NAK

A loss despite closing red by less than 1 half or 1 percent. A whipsaw daily doji like candle ensued, going red to green early but failing to hold and not quite testing 14 as hoped for. It limped into the close and ended red.

Push:

CIEN

A non-play push as it opened below 19.48 so no test or fail of the 19.50ish level emerged. Opening near the hod, it fell modestly and then flat lined the rest of the way, to close red by a bit more than 1 half of 1 percent.

Totals:
Daily record: W-5 L-1-P-1
83%

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