Monday, January 24, 2011

Trade review 1-24-11

I got some of these things right...



Nice afternoon fade on this Supernovae scan return. After opening on a gap up, the hod printed in the 1st 15 minutes and it faded steadily from there. Green to red hit in the late afternoon into the close, which was red by 4% or so. Often a stock finishing well off of the highs on the day it falls is hard to time, but it was easy here.


Opening on a gap up, this spiked early for the quick long. It hit 4.22 and then fell back, but most probably banked by scalping the spike. The new support level I mentioned was never taken out on the decay. It closed lower than it opened, but still green by over 1.5% today. The practical lod was in the initial 5 minute noise candle. This was taken out in the last hour, but by then few if any longs remained. Barely a win, but likely one.



Choppy whipsaw price action here as this daily doji print stock took folks for a ride. Opening on a gap up, it went back and forth between red and green several times. Ultimately it finished unchanged relative to the opening price, but such activity could have easily stopped out either longs or shorts. It did hit and take 7, though, before losing its footing as the day went on. Closed green by over 1% today but down after hours.



Opening on a gap up at the lod, no shorting signal arose. Kept greening into the close, which was up by nearly 12% today.


Arguably a win, this opened on a gap up and fell most of the way, finishing off of the lows. The trouble is after going red it could not hold this into the close, which ended up unchanged. I assume some banked, though.


Another stock that I figured might not be done yet as a Supernovae. This opened near the lod on a gap up and we never went green to red, though we briefly hit the flat line. No shorting signal. Zoomed up out of the gate, finishing off of the lows but still green by around 20% or so.


Opening on a gap up, aided by over the weekend promotion, the beat went on for this often choppy and whipsaw prone maturing Supernovae scan return. The lod was only equal the the previous close so no shorting signal arose. It basically spiked out of the gate and gradually tapered off to finish off of the highs, but still green by nearly 14% today. As most of these "push" plays show, you usually can avoid losses on plays that are not distributing for shorts on a given day by following rules for entry such as green to red, etc.

Daily record: W-2 L-1-P-4


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