Monday, January 31, 2011

Trade review 1-31-11

I got a few picks right today...



Opening flat, this looked weak from the start, and went sideways a while flirting with reddening. Later, it cracked the previous closing price and sported a textbook afternoon fade. Closed down by almost 34% today.


Opening on a gap up at the hod, this crapped at once with nice panic. It continued to steadily sell off into the close, which was negative by almost 27% today.


A perfect play. Opening on a gap up, this pulled back early but never reddened, then retook 9 for good, steadily advancing while trading above our key level and soon the opening price. Closed green by over 17% today.



I was right about the killer short, I did not guess the timing. I assume many banked on this, though, as a dump panic is unmistakable when it arises to the trained eye. This session showed why unless longs on plays like these are early in and out, getting burned is all too common. Opening on a gap up, this morning panicked at once, cliff diving early then bouncing. It gradually faded down the rest of the way, closing red by over 16% today.


It did close green, but the long scenario did not play out as I outlined. A steady rise finished up by 26% today. The EOD exit worked fine, which I was suspicious of. It never dived and endured more than expected.



No play on this as it began to drop right from the bell, never seriously challenging 9. An early bounce high failed to green, and it continued its weak price action the rest of the way, closing down almost 4% today.


Big gap down negated any safe entry, though it finished green as I suspected with a gap fill from the bell and a strong push into the close. I got the direction right. It hugged the flat line most of the day after filling, advancing late to finish green by over 3.5% today.

Daily record: W-3 L-2-P-2


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