Trade review 12-23-10

I got some of these things right...

Hits:

FFHL

Although it did not test 4.50 it opened at the hod and began weakening soon after the open. This meant the long was out. Once it began to trade below the opening price, a shorting signal arose. It recovered to finish off of the lows, but still negative by over 3% on Thursday.

HDY

This opened on a gap up above 5 and quickly advanced. Most were probably out by the time it faded back to close equal with the open. Finished green by 2% on Thursday.

Misses:

NCT

This opened on a nominal gap up and soon fell red. It recovered and went green but whipsawed back again and stayed negative into the close, which was red by over 3% on Thursday. The whipsaw merits a loss here.

Push:

RPC

Opening on a gap up, we never actually went red, only to the flat line. Although we closed well off of the highs, it was still green by over 10.5% on Thursday. A flat stance was suggested, hence, a push.

WLOC

Finished unchanged. Another no play push as it failed to fall under 1.80 or rise over 1.86 to permit any entry. Annoying consolidating price action continued. This drops off my main list but is still worthy of monitoring.

XOMA

Some shorts were squeezed on this but I do not see how. It mostly advanced all day from a gap up open. The lod printed in the first worthless, noisy 5 minute candle. A flat stance was suggested as the second candle was the new floor and it was equal to the previous close at its lowest point. Green by over 59% on Thursday.

ACAD

Another no play gap up would-be short that never materialized. This never went red and mostly advanced all day en route to a green close of nearly 31% on Thursday. It bolted north right from the first candle.

Totals:
Daily record: W-2 L-1-P-4
66%


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