Tuesday, January 25, 2011

Trade review 1-25-11

I got a couple picks right today...

Hits:

BLTI

Worked like a charm. Opened at the hod and fell fast from there, closing off of the lows but still red by nearly 5% today. Not as good as MSHL but a winner.

MSHL

Just perfect. Opened at the hod and fell gently from there, closing off of the lows, but still red by over 19.5% today.

NVGN

Nice afternoon fade. This was a great short. Opening on a gap up, this advanced early, then gradually decayed. In the afternoon it toyed with going green to red and soon kept that way with weak attempts at retaking positive territory. Closed red by over 6% today.

NTUR

Another easy short. Opening on a gap up at the hod, this gap and crap dumped early, and soon went green to red for a clear fade entry. Although it finished a bit off of the lows, it was still down by over 6% today.

Misses:

CWNR

Choppy price action again, but it is possible some banked on this as the fake out early that went green only occurred in the 1st 5 minute noise candle. Then it went green to red like NVGN did. Closed down by over 7% today. Since promotion was in effect, it is possible some shorts could have bit on the initial candle dump & were stopped out not wanting to be squeezed. Although the greening never took out the previous day hod.

Push:

NEI

No play as this essentially dropped out of the gate. It stopped dumping after about an hour and went sideways with an upward bias the rest of the day, but closed negative by nearly 6% today. I said to keep flat on such price action. We never got a 2.20 test, the hod being a cent under that.

DSCI

A nice red to green long appeared as suspected when this opened on a gap down, and printed a no range 5 minute noise candle. The next 3 were red with declining volume and no panic. Then it zoomed green and held, eventually moving sideways into the close, which was positive by over 1.5% today. Arguably a win as it played out to script except some could have kept flat and missed the entry after more than 1 red candle.

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

80%

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