I got some of these things right today...
Hits:
IXYS
Simple, perfect play. A gap up at the lod just advanced most of the way, trading above the opening price level after 5 minutes for an entry signal long. Closed green by nearly 3% today.
TRGL
Another perfect play as this opened below 9 and failed near it early, then tanked on cue in the morning and gradually decayed into the close, which was south by nearly 9.5% today.
Misses:
NEPT
We got no obvious scalp and whipsaw head faking that could have lost money. A gap up soon advanced and then reversed near lunch, then greened. It fell back red late but bounced at the end to close green by over 4.5% today. A roller coaster ride, not a friend of the trader.
Push:
LEXG
This gap down fell more and kept going from near the bell. But after 10 minutes or so, it reversed, and slowly headed back up, eventually greening into the close, which was too late for a good odds entry, so a flat stance beckoned. Like I said, waiting 20 to 30 minutes on this puppy is looking more and more advisable before fence sitting. I was long biased, but that merits no more than a push in this case given the price action. Green finish by over 3% today.
SLM
A gap down that never excited or really greened with limp price action all day. Staying under or almost on the flat line. No play, obviously. It closed red in theory, but was almost unchanged from the previous close.
SCSS
Another no play as this gap down hit the flat line briefly, but did not go green to yield a long entry signal. Aside from that early move, it faded gently all day, with a boring and small individual candle range. Closed down over 4.5% today.
MY
Another no play flat stance here as a gap up at the hod fell at once, fast going red. It continued to dump on heavy volume in the morning, then gradually recovered a bit the rest of the way. That helped it finish down only 2% today.
Totals:
Daily record: W-2 L-1-P-4
66%
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Hits:
IXYS
Simple, perfect play. A gap up at the lod just advanced most of the way, trading above the opening price level after 5 minutes for an entry signal long. Closed green by nearly 3% today.
TRGL
Another perfect play as this opened below 9 and failed near it early, then tanked on cue in the morning and gradually decayed into the close, which was south by nearly 9.5% today.
Misses:
NEPT
We got no obvious scalp and whipsaw head faking that could have lost money. A gap up soon advanced and then reversed near lunch, then greened. It fell back red late but bounced at the end to close green by over 4.5% today. A roller coaster ride, not a friend of the trader.
Push:
LEXG
This gap down fell more and kept going from near the bell. But after 10 minutes or so, it reversed, and slowly headed back up, eventually greening into the close, which was too late for a good odds entry, so a flat stance beckoned. Like I said, waiting 20 to 30 minutes on this puppy is looking more and more advisable before fence sitting. I was long biased, but that merits no more than a push in this case given the price action. Green finish by over 3% today.
SLM
A gap down that never excited or really greened with limp price action all day. Staying under or almost on the flat line. No play, obviously. It closed red in theory, but was almost unchanged from the previous close.
SCSS
Another no play as this gap down hit the flat line briefly, but did not go green to yield a long entry signal. Aside from that early move, it faded gently all day, with a boring and small individual candle range. Closed down over 4.5% today.
MY
Another no play flat stance here as a gap up at the hod fell at once, fast going red. It continued to dump on heavy volume in the morning, then gradually recovered a bit the rest of the way. That helped it finish down only 2% today.
Totals:
Daily record: W-2 L-1-P-4
66%
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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