Thursday, February 17, 2011

Trade review 2-17-11

I got a few plays right today...



Students of shorting take note, this was one of the most reliable of all signals. First, you have an ongoing maturing Supernovae. Then, it starts off quite strong, greening all day decently, then it dives outright red in the last few hours, providing an "afternoon fade" entry cue for shorts. It stayed down into the close, which was south by nearly 15% today.


Although it finished solidly red, the long scalp out of the gate worked well enough, if you bolted at the first sign of trouble. After 15 minutes, it began to weaken. It went green to red about 50 minutes in, closing down by over 14% today. No top fishing short scalp arose under the terms I outlined.


Boring easy with with a gap up that just drifted up, printing positive after the initial 5 minutes. It just coasted all day into the close, which was north by nearly 6% today.


The pull back entry on the dollar test worked out acceptably. It held, as predicted. Once it perked up and went red to green (although not early on in the session) it pretty much held until the end, advancing into the close, which was positive by over 7.5% today. This type of entry is not for beginners, but it did work cleanly. The price action today shows why one only rarely buys a clear gap up without waiting for a fill attempt first.


KV.A and KV.B

Shorts got faked out when the gap down to flat opens fell initially, and even survived an early bounce, when it traded under the opening price level about half of the session. Then it began to print modestly green, picked up speed into the finish, whipsawing them in the choppiness. Closed up by over 4% today.


Daily doji print in the end, closing at the same price it debuted at. This one shows why the initial 5 minute noise candle is best avoided unless scalping a clear spike. Wild tape painting (?) here made for a huge wave stick range on that first candlestick. Pull back entries banked as 9.40 area held. Due to the gap down situation it finished negative by no more than 1% today. We never got a serious ordinarly long signal until the last candle, by which time it was too late to make a play. Arguably a push, but I was long biased and so forth.



Went sideways a few minutes then spiked up hard and fast, continuing to advance all day. The gap up closed positive by close to 35% today, denying shorts a fade cue entry of any kind.

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


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