Thursday, April 14, 2011

Trade review 4-14-11

I got a few of these things right today...



The good news is it rose from the gun in terms of live price action. It faded steadily and went green to red before lunch, yielding a short entry. It hugged the flat line and went somewhat positive then failed on the flat line into a weak close that was finished south by nearly 5% today.


A sizable gap down immediately rose from the bell and greened about 20 minutes in. A long on the early gap fill or on the red to green was possible. It kept advancing a while, then went sideways and perked into the close, which was positive by over 3% today.



A fake out loss on the whipsaw, this flat open fell for the initial 15 minutes, then reversed course, going red to green and holds, continuing to rise the rest of the way, en route to a positive finish of over 10% today. I should have noted that I said earlier in the run up on this to wait for directional fence sitting after 30 minutes of trading, now that advice is looking better all the time. I did not specify this so this has to be scored as a loser.


A gap down continued to fall after 5 minutes of trading, but then it advanced, trapping some early shorts at least. Up and down moves followed, before a strong close ensued, and it finished negative by over 2% today. Despite this and my short bias, the play is a loss due to the how the price action occurred, whipsawing.


This should have been a win in a slam dunk for longs. It's a loss for me due to the close. A modest gap up filled and struck the flat line, perking up and yielding a long, which kept going nicely, with new 52's hitting and a 5 test. Then an afternoon fade ensued, going green to red, with selling intensifying into the close, which was negative by over 10.5% today. Sometimes, even perfect set ups can reverse, and this lost despite all it had going for it. The lesson is there is no such thing as a sure fire trade, probabilities are all you can hope for!



A lod open on a gap down advanced at once, hitting the flat line, but holding. It continued to meander, giving no obvious short entry, then it closed strong to pull even with the previous session close to finish unchanged. A flat stance was suggested, hence a push.


Huge gap up began to advance out of the open, a strong sign for longs, and I only wanted a short entry if cues surfaced. They did not, so a flat stance was suggested. A pullback held the flat line and advanced the rest of the way, so that was out. Closed green by nearly 77% today.

A rare off day for me in picks, but part of that was the highway robbery on ECTE which was freakish.

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


My unofficial plays went as follows: CAK opened on a sizable gap up and mildly advanced from the gun, but eventually closed lower than it opened but still positive due to the gapper by over 8% today. ESYL did pan out, yielding more reddening despite its huge dump yesterday, closing red by over 13% today after a gap down. KBLB had a few buyers quite early, but it soon went green to red for good, fading into the close, which was negative by nearly 14.5% today. A mixed result, at best from these off table selections.

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