I got a couple plays right today...
Despite opening on a gap down, this played out well. It proved to be the hod, and it began trading below the opening price and diving soon after. This continued nicely into the finish, which was red by over 38% on Friday.
Early massive selling pressure indeed arrived, with it trading below its opening price soon after the bell. This dual confirmation was a shorting signal. Opening on a gap down, it closed well off of the lows, but still red by over 4% on Friday.
Nothing really worked here. It did not truly test 3 for a good long scalp in a run-up, although the second 5 minute candle might have been scalped successfully by some. Top fishing it was not really easy as it played out. It faded most of the day before popping into the close, which was green by less than 1 half of 1 percent.
Arguably a win, since it closed green by over 5% and in the end held 2 bucks, the choppy nature merits no better than a push. Some longs could have been stopped out, but as it fell from near the gun first, most were not. A red to green followed, then another dip. This time another red to green move held until the finish. Most longs were not stopped out as the second dip stayed above the daily low before reversing.
A no play push, as this opened at the lod and essentially continued consolidating, going no place. A tight range ensued, which was mostly sideways. No short entry as 1.80 held, and not long as 1.85+ did not occur.
A push as this never went green, opening flat and soon weakening. 7.50 did not hold. It never went above that to yield a long, and this was only a potential long. Closed off of the lows, but still red by almost 1% on Friday. This occurred on lesser volume, and it is common for break outs to pause and then advance, FYI.
Opening on a slight gap down, this proved to be near the hod, and it dumped on volume right from the first 5 minute candle, never yielding a long entry signal, especially since it soon fell under 8. True, it recovered and went green with volume late in the day, but most probably kept flat. Some might have entered when it retook 8 and made money, but not everybody. Closed green by less than 1 half of 1 percent. A push is likely fair.
Daily record: W-2 L-1-P-4
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at: