Monday, April 18, 2011

Trade review 4-18-11

I got a couple of these plays right today...



This played out well. A gap down filled and advanced early, but soon went green to red for the short entry. It fell a bit more and struggled back to the flat line but could not do better, closing weakly, and down over 27% today.


A gap up fell in the 1st 30 minutes which was a shorting cue, since it reversed course on heavy volume rapidly. A recovery ensued about an hour in, which helped this finish off of the lows, but still red by over 1% today. You should remember not to stay in morning panic style drops beyond any signs of bouncing, as a rule.



Bad luck here as I was once again (like so many times on this ticker!) cruising to win and then it went straight up in the afternoon to eventually finish green by over 10.5% today. Bullish Engulfing print no less. It opened on a gap down, and fell steadily all day until the last 2 hours, which were amazing for Bulls. A freakish loss.


Another very odd loss. It took and held 7, and looked fine for the longs. After a gap up, it advanced for 20 minutes precisely hitting 7.50 to fill the gap as intimated, then it dived back red. It could not fully recover the rest of the way, en route to a down finish of over 1% today. Following rules helps, but it is not always enough.



Sizable gap down discouraged shorts from entering. It rose at once, from the lod, so entry was impossible. A no play which closed down over 1% due to the gap, not the price action.


A gap up began advancing north near the gun, preventing shorts from entering. It began to fall and go sideways, but tanked into the close, to end down nominally today. A no play situation.


A no play as this gap down from the hod began falling hard and fast from the open, it rebounded but not enough to close the gap, finishing down over 8% today.

My unofficial plays went as follows: TMTF was not an optimal entry given its large gap down. Nevertheless, it continued to drop from its hod debut en route to a red finish of 50% today. ITG also was a big gap down (probably due to the S&P downgrade today and poor overall market) below support which filled the gap early on and failed to regain the flat line and 17+ then it dived most of the remainder to close red over 1.5% today. Traders did not good entries on either selection.

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


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