Monday, February 21, 2011

Trade review 2-18-11

I got some of these things right on Friday...



Much like HNHI the other day, this was a less impressive but still workable afternoon fade entry. The gap up slowly faded all day, accelerating into the close, when it went green to red and finished down over 1.5% on Friday.


The spiking from near the bell worked out alright. Aside from the initial 5 minute noise candle which had little range, this yielded a quick long scalp. It soon reversed hard, but that was almost 30 minutes in and most would have exited by then. Once it reddened, it stayed negative by over 14% on Friday. Just a quickie play.


Nice even easy fading from the bell on this. Opening on a 1 cent gap down at the hod, it fell the first hour and the rebound stayed red. A weak close helped it finish down over 4.5% on Friday.


KV.A and KV.B

The good news is few shorts got played on this. Opening on gap downs, they continued to look weak after the initial 5 minute noise candles. But the volume on the distribution was not too imposing, so the the zoom up a few candles later was not a big surprise. Still, some shorts could have been faked out, so this is a loss. It was easier to avoid on KV.A than on the other one, since the price action was just a tad more revealing.


I got the direction right, and the typical gap up and fill, with an early red to green. But entries lost as closed under the open. Not by very much, but they lost. It stayed positive but only nominally, going sideways all day into the finish, which was green by over 1% today. The fake out of a very rare kind sadly must be a loss.



Sizable gap down discouraged entry. Aside from the initial 5 minute noise candle, it rose from early on, soon greening. It soon went red, not holding positive. While it stayed negative most of the rest of the way aside from a few errant candles, its choppy demeanor and too early reddening suggested a flat stance. Closed red by over 2.5% on Friday, but shorts had no convincing entry point.


This should have been a win. It played out early and often exactly as to script, but it finished unchanged. A gap up filled early and essentially hugged the flat line. It greened reasonably soon after, and this held until the afternoon, when a weak finish ended the quest for profitable longs.

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


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