Wednesday, April 13, 2011

Trade review 4-13-11

I got some of them right on this day...



You had to figure this. Shorts got their next chance today, when a gap up near the hod crapped almost at once, going green to red. It continued to slide in the morning, then moved sideways into the close, which was down by over 5% today.


I said this was going to be a great short once the dumpers arrived, but not before. An incher, this one gapped and crapped nicely from near the hod, going green to red, without warning, mid afternoon, slamming down hard and continuing into the close, which was red by over 36.5% today. That's not a typo, and now you know what I mean by how fast the rug can be pulled on these types of plays. If going long on an incher, be early, as much as possible, or wait for the distribution print.


A sizable gap down, but this one immediately headed south and consistently traded under the opening price level. It kept fading evenly all day into the close, which was negative by over 36% today. What a reversal!


This red floater played out like a charm. It opened on a slight gap up, went sideways a few minutes, then went green to red for good. By late morning it went sideways the rest of the way, closing down over 6% today.



A whipsaw fake out loss. That's one reason why it can be good to wait for an initial red day on new Supernovae scan return plays. This gapper upper crapped almost at once, and continued reddening in the morning. Then it rose and greened, taking out the previous session high, and probably many shorts. It dipped back negative, hugged the flat line, and closed strong, ending positive by almost 8.5% today.


This is arguably a win, but I am calling it a loss due to the price action, etc. A gap and crap as I feared might occur transpired, going green to red early and fading nicely half the way. Then it staged an amazing reversal to actually closed positive by a bit more than 1 half of 1 percent. A whipsaw fake out, but short scalps probably banked if they did not overstay their welcome. I was mostly long biased, though.



Unchanged result here, though the only people who banked would have been shorts, based on intraday moves. Hammer on the daily with little volume means no worse than a push.

My unofficial play IDIX went as follows: It never challenged 4. It opened near the hod on a gap down and just dropped off. It went sideways a spell and then closed strong, closing negative by about 1 half of 1 percent or essentially unchanged. A bust for longs.

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


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