Trade review 12-31-10

I got some of these things right...

Hits:

RPRX

Nice easy fade from the start, which continued gently if boringly into the close, finishing red by over 7% on Friday. It did not crack 3, but it is a win. Things would have got really interesting if it had.

CDCH

This zoomed up for the long scalp as suspected, closing green by over 21.5% on Friday. It faded later but that probably did not cause any longs to lose money, given how it played out over time. Easy money play. The big green candles came just after the first 5 minute one, so they were a lot more reliable to enter in.

Misses:

SHZ

Closed green when I thought more down side was in the offing. After opening on a gap down, it eventually went green. This stayed positive into the close, which was north by 5% on Friday. But it looked like shorts would be able to simply play the "opening price fall under" tactic once the first 5 minute noise candle elapsed. Instead, they got faked out, which could have lost money. It did warn of the impending r/g though, via early indecisive choppy price action. The lesson here is always get out when a stock does not do as you expected!

REE

Another choppy failure, at least on Friday. Daily doji print on the stick, but a loss anyway, since even though it opened on a gap down, it looked like it would work out when it went red to green near lunch time, but failed to hold above water. Worse, it even took out the previous session high and failed on the day! The greening lasted only minuted, then it gradually fell back negative, closing down over 4% on Friday. A loss.

Push:

STVI

Considerable gap down negated short entry. Daily doji candlestick print. Began to fall nicely from the start, but recovered gradually, closing about where it opened. An obvious push. Closed red by 10.5% on Friday.

CHGS

Another big gap (up) trade-negating scenario. It moved up from the start, which meant keeping flat. Daily doji candlestick print. The lod was in the first useless 5 minute stick, and no green to red was possible. Green close by over 23% on Friday, deceptive due to the gapping. A push.

CDII

This sold off from the outset as suspected might happen, so I said to remain flat. A push. That said, it was a great fade for the shorts, who did not get squeezed. Nice morning panic. It evenly reddened into the close, which was down nearly 19% on Friday.

Totals:
Daily record: W-2 L-2-P-3
50%

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