Wednesday, January 26, 2011

Trade review 1-26-11

I got a couple plays right today...

Hits:

CWNR

Opening essentially flat and near the hod, this soon went red nicely for the shorting signal. Recovery began an hour in, but while finishing off of the lows it still reddened by over 8% today.

FMCC

Both this and FNMA dumped nicely for the short. Opening essentially flat and near the hod, morning panic on set in near the gun and it began to recover 30 minutes in, finishing off of the lows but still red by over 16.5% today. The drop occurred on strong volume.

NTUR

I absolutely nailed this call. Opening flat near the hod, this began to dive early, then really tanked. Finished off of the lows, but still down by nearly 32% today. Over extensions often see second red days, like this one.

CAVO

Opening on a gap up near the hod, this toyed with going red early and often, finally diving under an hour in. Even fading into the close followed, which was south by over 10.5% today. The short scenario really rocked.

Misses:

GWMGF

Opening on a gap down, this faked out shorts, going red to green 10 minutes in, though it did not close above a buck on that candle if using 5 minute sticks. I said to keep flat on reddening, but saw this mostly as a long and it did not play out at all as I specified, save for the whipsaw. Closed down by over 5.5% today for a loss.

Push:

NVGN

Arguable as a win as it closed down by over 2% today, but that was lost in the gap down. Near daily doji print. Essentially went nowhere but sideways all day, not giving a clear entry signal.

PSTI

I could claim a win here as it opened on a gap up and went sideways, before falling red and soon going green for good. Patient longs banked, it finished up over 6% today. But the technical choppiness warrants a push.

ABKFQ

I could easily argue a win here. A mixed bag, but most of the marquee set ups for entries that I envisioned panned out well. First, it spiked up on heavy volume from the bell for a long scalp. A gap up made my price observations useless as I described them. Then, a nice afternoon fade for the last hour on a green to red continued into the close, which was down by over 22% today. This is at least a push.

Totals:
Daily record: W-4 L-1-P-3

80%

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