Thursday, March 24, 2011

Trade review 3-24-11

I got some plays right today...



Gap up and go as gold continued its march today. It retraced nearly all its move mid-day but closed strong to end up over 6.5% today.


Morning panic like plunge arrived as suspected might happen today. The hod printed impishly in the 1st 20 minutes, then it began to fail. Soon going red hard and deep, it predictably bounced (probably short covering) making it to the flat line, then it traded sideways for some time just under the flat line. A big fall commenced, which was another short entry. This fell far, but also bounced, except more slowly. It still closed negative, by 6% today. Ultimately, shorts on plays like this offer quicker gratification, but share borrows are a pain.


This gradually sold off from the gun, in a clean, easy fade that traded under the opening price level from early on. This decay kept up into the close, which was south by over 16% today.



A sad loss on a whipsaw choppy head fake that proves no such thing is a sure thing in the stock market. A perfect set up technically began as a nominal gap up. It advanced nicely, seemingly holding 3 for a long. Then it went sideways for some time. In the early afternoon it decayed, going green to red and this fading kept up the rest of the way. Closed down by over 4% today.


A gap up that sported price action which probably fooled longs and short alike. It advanced early nicely. Then it morning panic like dumped hard and went negative. This likely faked out traders on both sides. It bounced off the low and gradually bounced, going green. This climb continued into the close, which was positive by over 5.5% today.


This is arguably a push, but my honesty suggests I list it as a loss. Shorts who bit are probably only slightly in the hole. Opening on a gap up, it began to fill that right away and then went green to red. Soon after, it went back over the flat line and kept going, trapping some shorts on the reversal. It faded later and closed weak to end up barely above 1 half of 1 percent, looking like a doji on the daily chart, but that is still a positive finish.



This is probably a win, but the gap size was not so hot, suggest a cash stance. It fell from the gun, but soon spiked. It closed the gap and even went nominally green but that was over in one 5 minute candle. Then it resumed dumping, closing down by nearly 11.5% today. Most shorts were not shaken out here if biting.

My unofficial play GDGI worked out to script. A gap down fell at once, with rallies staying below the flat line. It closed off of the lows, but still red by over 4% today.

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


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