Monday, March 21, 2011

Trade review 3-21-11

I picked some winners today...



Another great day for longs. Gap advanced steadily, en route to a green close of over 15% today. Easy win.


The first noise candle greened, then it was all down hill from there. After going red it continued to flounder, finishing negative by over 11% on the day. A cinch fade.


Trash is as trash does, this one was easy pickings. It started off well enough, but it dived about an hour in and never looked back. One rally hit the flat line, but soon resumed tanking. A weak close ensued, red by over 16.5% today.



Choppy is right. this roller coaster ride faked out shorts 2 ways. It essentially finished unchanged, with a daily doji print, but the noise could have trapped many. A flat open advanced, then went red, but then returned green and even made a new high. Then it truly dived hard, but recovered late to end the day even.


This dived the first 10 minutes, then it reached to fill the new gap and kept going. This fake out could have lost money. It ended up closing unchanged, but green by over 2% due to the initial gap up.



Would be longs saw this drop from the gun, never giving them an entry signal. After a gap up, a crap followed that kept tanking most of the day until a strong close made it green by a very tiny amount. No play, obviously.


On paper this almost looks like a near win, but its at best a push. A gap up open sold off on the initial candle, then rose. It soon faded and even went red briefly. It quickly went back positive, and went sideways a while. It went back nominally red and drifted, eventually closing red by a bit over 1% today. Any shorts entering on the lame reddening probably did not stop out given that when they would have entered the hod had printed, and they likely broke even on the entire thing given the final price.

My unofficial plays went as follows: CNP made new 52's but only closed a bit over the open. JAMN dived hard from the start, but finished off of the lows, down 3.5% today. Longs never got a play off. JVA dived from the gun as well, as I figured it might, and shorts got off a play soon after. I basically went 2-1 on these.

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


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