Wednesday, March 23, 2011

Trade review 3-23-11

I got some picks right today...



Gap down printed the hod in the initial 5 minute noise candle. It fell back red and subsequent rallies essentially hit the flat line, so few shorts would have been stopped out. It briefly hit net negative by 2 cents, before falling back under. Textbook afternoon fade followed into the close, which was south by over 14.5% today.


This monster kept rolling yet again, this time cleanly. Gap near the lod closed near the hod, which was green by over 20% today. More easy money for longs.


Red to green and holds for the long as I predicted, another up day for this oldie but goodie, north by over 6% today. After the gap down the flat line cross happened in a timely fashion.


Another easy win for Bulls. A gap open printed the lod in the initial 5 minute noise candle. Then it was all uphill from there. It closed north over 11% today. This one and UTOG have really been incredible plays.



This opened on a gap up that fell on the initial 5 minute noise candle. It went red to green right after, which could have trapped some Bulls, since it eventually decayed and finished weak, down over 3% today.



Same story as yesterday, which is why I had 8 picks and not my usual 7. Dropping it from my list. I assume it was terminated or is otherwise inactive. No play, obviously.


This looks like a loss, but it is not. The reason is how the price action commenced. Shorts following my rules would not have lost a cent, since it opened at the lod and immediately zoomed up, going red to green after a gap down in the 1st 15 minutes. It held positive all day, closing north by nearly 1.5% today.


I said keep flat on negative price action. This opened at the hod, and dumped at once. A gap up went red soon after the open. Weak rallies gave way to more new lows, and it closed south by 10% today.

I did well on my official plays, but my unofficial ones were mainly duds. CHGS closed lower than it opened, though it gapped up. The spike scalp up kind of worked, I guess. ROYL opened on a gap up, which did advance nicely in the morning, but a weak close ended up being red by 1.5% today. FXCB opened on a gap down, the hod being only equal to the previous day close and fell from there. It closed down by almost 1.5% today. Good thing my main list picks were the ones I selected!

Daily record: W-4 L-1-P-3


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