Thursday, March 31, 2011

Trade review 3-31-11

I got some of these things right today...

Hits:

ALZM

Finally! A gap down near the hod fell steadily all day, closing near the lows, down nearly 14% today erasing at least a few days worth of gains. It sold off on high volume, no less. All rallies failed to retake positive areas.

MJNA

Perfect gap up near the hod morning panic dumped out of the open. It stabilized, and closed well off of the lows, but still closed down over 12% today.

AENY

I figured this would fail to hold its spike near the close yesterday. A gap up at the hod was a crap. A fast green to red followed, and it glided down into the finish south by over 16% today.

HYGS

This was a perfect red to green explosion as predicted. Early noise was shaken off and it never looked back. It closed well off of the highs, closing weak but still positive by nearly 17.5% today.

Misses:

MCGI

Flat open faked out shorts when it fell for 22 minutes or so and then went red to green for good. It moved sideways and positive the rest of the day and closed up from the previous close by 15% today.

LEXG

This could easily be argued as a push, or even a win, as the previous session low was not taken out on the daily. It fell from the start, a gap up going green to red. It soon bounced and went red to green for good. It closed up over 7.5% today. Most longs banked given the lod, but most shorts were probably taken out on the positive end once it greened to much, the messy result warranting a loss.

Push:

AMIE

Big gap up negated good risk reward for shorts who needed to be flat lacking clear weakness cues. True, it closed lower than it opened, and some top fish fades probably banked, but most probably kept flat. Closed green by over 20% today, due to the gap up as it fell 42 cents off of the highs in terms of how it played out.

My unofficial plays were interesting, too. GOJO was a predictable gap up at the hod and crap that fell 12.5% today for easy money. ABAT rose steadily filling the gap, and made up more ground than I thought it would, finishing down only about 3.5% today off of the highs but still red due to the gap down. TLON was was another gap and crap from the hod that fell over 16.5% today. IOW, I went 1-2 on these off record picks.

Totals:
Daily record: W-4 L-2-P-1

66%

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