Wednesday, March 02, 2011

Trade review 3-2-11

I got a few picks right today...



Opening on a 1 cent gap down at the hod, this fell at once. rebounds failed and were new short entries as the reddening continued. A weak close ended the trading with it down nearly 16% today.


This advanced from the gun, spiking up off a gap down to go red to green and holds. Closed off of the highs, but still positive by over 4% on the day.


We got our 2nd red day on this red floater. Gap up quickly went green to red, and held. Kept up even fading most of the rest of the way, closing off of the lows, but still negative by over 10% today.



This never yielded a short signal, opening on a big gap up that screamed keep flat. Then it seesawed, but only naive top fishers would have been caught when it fell under the opening price level and rebounded, finishing especially strong to end up over 17.5% today. It always pays to have both the opening price signal AND the net price signal in your court. I will count this as a loss, but no professional would have lost on this scenario.



This fell from the gun, out of a gap up that soon filled. It hugged the flat line all day and closed weak but not by much. It almost was unchanged, just negative by a tiny hair. Once again, the vast majority of loser plays can be avoided if you can read live price action. Then you do not even have a minute loss, you just keep flat.


Same situation here as for PNM above.Tiny gap up fell red on the first candle, then kept negative all day. Modest rebounds failed to go green, and it closed weakly to end down over 3% on the day. A no play.


Sizable gap up zoomed north from the gun, which prohibited entry. Unlike ROYL it never even fell below the opening price level, although it corrected about 30 minutes in and eventually rebounded to closed positive over 17.5% today. Always remember to short weakness, not strength in nearly all cases. This limits losses.

My off record plays were interesting, too. COYR whipsawed, opening flat, advancing, and dumping huge to go red. Then it rebounded, and closed up over 2% today. AMZG fell out of the gate, and any rebounds failed to green, and it closed down over 4% today. That was long overdue. AMEL had a bit more, as suspected. A gap up advanced all day and finished up nearly 15% today. CXLT fell from a gap up and rebounded to go green. It closed weak to end down over 5% today. ZN rolled again, opening on a gap up which stayed positive, finishing green  almost 14% today. VASO gapped and crapped, closing down nearly 1.5% today. ATAI opened flat at the hod, then fell nicely, finishing off the lows but still red by 1% today.

Daily record: W-3 L-1-P-3


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