I got something right on Friday:
Hits:
AXK
Gap up at the hod crapped out of the box, going red and it kept going about half of the session. It rebounded, but kept negative, closing off the lows but still down by over 11% on Friday.
Misses:
COYR
A whipsaw loss as this opened on a gap up and crapped at once, going red the first 30 minutes, then gradually recovering. It hit the flat line and had a strong close to end green by less than a half of a percent. So the loss was not much to those who got caught, fortunately.
SCON
Another fake out that could have lost money, this opened on a gap down, then the next candle bounced, then we had a red to green. But it was short lived. It soon dived back under, whipsawing longs. It closed off of the lows and finished strongly, but still negative by almost 2.5% on Friday.
ESPI
On a gap down, this began to fall early, looking like it would close legitimately red. But it gradually recovered, closing strong. It passed above the opening price level at the end, completing the fake out. Closed down by less than 1 half of 1 percent, so the whipsaw effect was rather minimal.
Push:
ROYL
Big gap up negated short entries. This one kept going early, as well. It closed off of the highs, but still green by nearly 5% on Friday. Still, a daily doji like print ensued, which gives an idea of the size of the gap. It did close above the opening price level, but not by much. An obvious no play.
BDCO
Another no play, this and other energy and oil stocks had another field day Friday, clear by premarket quotes even. Imposing gap up suggested a flat stance. Except for the initial 5 minute noise candle, it went climbed early, resembling ROYL and other such stocks. It closed well off of the highs, with the upside only being in the first 30 minutes, but still positive by over 9% on Friday. This was due mainly to the gap. Another no play.
CMFO
Another big gap down situation. This killed the primary idea of a long, as 5 was never in sight. It did not continue to drop, so fading was out. Small, up and down climbing ensued that offered no entry. Closed off of the lows, but still red by nearly 4.5% on Friday. This was all in the gap, as it closed a bit lower than it opened.
Totals:
Daily record: W-1 L-3-P-3
25%
Another rare poor day for me, but at least most of the possible losses were quite nominal. It happens.
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Hits:
AXK
Gap up at the hod crapped out of the box, going red and it kept going about half of the session. It rebounded, but kept negative, closing off the lows but still down by over 11% on Friday.
Misses:
COYR
A whipsaw loss as this opened on a gap up and crapped at once, going red the first 30 minutes, then gradually recovering. It hit the flat line and had a strong close to end green by less than a half of a percent. So the loss was not much to those who got caught, fortunately.
SCON
Another fake out that could have lost money, this opened on a gap down, then the next candle bounced, then we had a red to green. But it was short lived. It soon dived back under, whipsawing longs. It closed off of the lows and finished strongly, but still negative by almost 2.5% on Friday.
ESPI
On a gap down, this began to fall early, looking like it would close legitimately red. But it gradually recovered, closing strong. It passed above the opening price level at the end, completing the fake out. Closed down by less than 1 half of 1 percent, so the whipsaw effect was rather minimal.
Push:
ROYL
Big gap up negated short entries. This one kept going early, as well. It closed off of the highs, but still green by nearly 5% on Friday. Still, a daily doji like print ensued, which gives an idea of the size of the gap. It did close above the opening price level, but not by much. An obvious no play.
BDCO
Another no play, this and other energy and oil stocks had another field day Friday, clear by premarket quotes even. Imposing gap up suggested a flat stance. Except for the initial 5 minute noise candle, it went climbed early, resembling ROYL and other such stocks. It closed well off of the highs, with the upside only being in the first 30 minutes, but still positive by over 9% on Friday. This was due mainly to the gap. Another no play.
CMFO
Another big gap down situation. This killed the primary idea of a long, as 5 was never in sight. It did not continue to drop, so fading was out. Small, up and down climbing ensued that offered no entry. Closed off of the lows, but still red by nearly 4.5% on Friday. This was all in the gap, as it closed a bit lower than it opened.
Totals:
Daily record: W-1 L-3-P-3
25%
Another rare poor day for me, but at least most of the possible losses were quite nominal. It happens.
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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