Thursday, March 03, 2011

Trade review 3-3-11

I got some of them right today...



This worked nicely. A gap down open near the hod fell at once and kept going, with even fading into the close, which was negative by nearly 10% today. Patient stalking produced an easy fade as predicted.


Flat open at the hod fell at once, and stayed red all day despite feeble attempts at bounces. It closed down over 17% today vindicating my assertion that it would lack any staying power.



Looks like a win, or at least a push, but this proves again that as a finance blogger, I am one of the most honest. Opening on a gap down, not so large as to require keeping flat, it advanced from the gun and then began trading under the opening price. This was a shorting signal that whipsawed when it choppily recovered and closed down due to the gap but still above the opening price. A fake out loss. Down by over 6% today.


1 cent gap up soon fell red, faking out shorts who entered when it eventually came back and greened, even spiking a bit. It soon cooled down but a strong finish helped it end positive by over 1% and I was short biased.



This is not a win even though I mentioned possible shorting, due to price action. Gap down open printed the hod in the initial 5 minute noise candle. It did not test 4. The saw to that. It soon printed above the opening price but could not hold there, falling back under and closing down by nearly 15.5% today. A long was not advisable due to the weak open and no red to green, much less a test or hold of 4. A flat stance was advised.


Big gap up over the yearly high prevented longs from doing anything but wait to see if it at least held. It did not, falling below in the initial 5 minute noise candle. It stayed nominally positive all day into the close, which was green by over 3% today. But this was all lost in the gap, and no entry presented itself so it is a push.


Another easy to avoid losing trade to any pro, this one gapped up printed the hod and fell at once in the initial 5 minute noise candle, dipping red and closing above the flat line but under the opening price. The hod held and it failed to advance, quickly falling red, this time for good. It kept fading all day into the close, which was negative by over 12.5% today.

My unofficial picks went as follows: AMZG opened flat at the lod, and advanced, closing green by over 3% today. This was disappointing. TIV gapped down near the hod and sold off all day, closing red by over 17.5% today. TGC acted much the same and closed south over 11% today. SYNM gapped down but spent the day filling it, eventually closing unchanged on the session. All of the energy plays failed to work for longs.

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


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