Tuesday, March 15, 2011

Trade revew 3-15-11

I got some of these things right today...



This is why waiting for a Supernovae drop day is so nice. A gap down at the hod fell at once, with perfect even fading all day into the close, which was red by 40% today. One play like this makes it all worth it!


This also worked out well enough. A gap down open tanked from near the gun. It bounced, heavily, but remained red, though it briefly hit over the opening price by 1 cent. Then at lunch it began falling again, the rally proving to be another fade entry in the end. It traded sideways into the close, which was red by over 27% today.


Early weakness quickly went red to green to yield a long entry on this incher upper. It never looked back, despite a bit of a dip in the afternoon. A strong closed sealed the deal, as it closed positive by over 7.5% today.


A sizable gap down but that was the hod, and it went sideways for a while before declining. It closed negative by over 58% today.



This is arguably a push but I will claim a loss. As I suspected, another gap down and fill. But it got to the flat line and then it failed. Technically, the long entry was on the red to green, but some aggressive longs could have entered earlier and experienced a reversal. It fell from the flat line, traded sideways for hours, and closed weakly to end up negative by over 6% today.



Shorts never had a chance as this gapped well up opening near the lod which advanced at once. 2 hours later it decayed, but stayed positive and above the opening price level. A strong afternoon followed which ended up green by over 54% today. A no play.


Huge gap down prevented any play. Naturally this closed above the opening price level, but in any case no entry was possible in either direction as I outlined. The Dow did not help. Do not short huge gap downs, except in certain special cases with careful rules.

My unofficial play PELE deserves a look, too. I was wrong. It had another monster day, soaring the 1st hour then pulling back, but gradually rising into the finish to close up over 216.5% today.

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


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