Trade review 1-13-11

I got a couple plays right today...

Hits:

EEE

It zoomed up out of the bell on noise, but soon went green to red. Even shorts who were early probably did not get stopped out as the high of the day prior was left intact. Then it was a fairly even decay into the close, which was down by over 8% today.

FRZ

I was indeed one too early yesterday, but not today. Opening on a gap down at the hod, this fell the first hour, then traded sideways most the remainder, closing red by nearly 2% today. A boring win, but it pays the rent.

ECPN

Opening on a gap up, this went sideways but barely greenish the first 45 minutes, then it fell to red and never looked back. Even decay followed into the close, which was south by 15% today.

CRIS

A technical win, but a win just the same. The long scalp worked best, and we got our 3 test. Closed below that, but still positive by over 6% today. Some of this was lost in the gap, but it closed higher than it opened on strong volume. Boring sideways price action most of the rest of the way, perking up into the close.

Misses:

BRN

I was right about the 8 test success, but saw this mostly as a short. Probably nobody was fooled, since it opened on a gap down at the lod and zoomed north from there, though. Sideways price action followed most of the rest of the way. Arguably a push, but I was too wrong overall. Closed green by over 12.5% today.

PDFS

Opening on a gap down, it immediately advanced to fill it. On the second 5 minute candle in it touched 6, then it was all down hill from there. Even fading commenced after the green to red fake out, which continued into the close, that was negative by over 7% today. I saw this as more of a long, and was wrong enough to lose.

Push:

IWDM

Despite another big up session, the move probably did not fake any shorts out. It soared literally from the gate and never looked back after gapping up. Closed green by over 68.5% today. A flat stance was indicated.

LSCG

It did not pan out long but likely no Bull was fooled, as the lod was printed on the first 5 minute noise candle. Opening on a gap up at the hod, it dumped at once, suggesting a flat stance. Closed red by over 1% today.

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

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