Tuesday, April 05, 2011

Trade review 4-5-11

I got a few plays right this session...



Another day, another dollar. Reminds one of ALZM almost at this point. Gap up only printed lod equal to the previous session close and kept going gently up all day. Closed green by nearly 4.5% today.


This played out to script as well. Early weakness followed by a rebound red to green that yielded a long entry signal. It continued to advance, but slowly decayed sideways into the close, which were still positive by over 3% today. Most longs who entered just over the flat line were profitable despite the less than ideal finish.


Any reasonable exit on a scalp here banked at least a bit. It closed lower than it opened, and the gap down, while sizable, was not too excessive. The best day was the first day, of course, but it closed south by over 19.5% today, most of which was admittedly lost in the gap. Down almost another 2% after hours, too.



I should have won this one. A gap down filled early and went red to green soon after, looking fine all morning, then came lunch. A slow burn down lasted into the close, even going red, ending down over 2.5% today. It broke 3 as specified, with perfect cues, but still lost for the Bulls. Nothing is a sure thing in the stock market.


After a gap up filled and went under the flat line, it rebounded to go red to green and over a dollar, inciting longs to enter and be faked out when it soon headed back under for good. Sideways price action followed that closed down nearly 4% today. Another robbery, like CT but not as flagrant.


A noisy, whipsaw fake out loss. This gap down soon tanked and invited shorts to be chopped up when it rebounded and even greened a few times briefly. It closed down by 1% but that was deceptive. On paper, this looks like a daily doji and a push, but the price action meant trapped shorts probably lost money.



I could not have timed this worse, but the price action and gap allow me to honestly claim a push here. It opened flat at the hod and dumped at once, so no sane longs were trapped on it. They kept flat. It was a great short, the omen last Wednesday of creakiness proved prophetic as it closed south by nearly 17% today.

Daily record: W-3 L-3-P-1


My unofficial plays went as follows: NVDL sold off out of the gate, but rebounded, going red to green. This continued most of the day, except for the close, which was weak. It still ended up over 21% today. I was short biased, unfortunately. BORK also started off weakly, but gradually rebounded and even greened, finishing up over 9% on the day. I was short biased again. My opinion of either stock has not changed a bit.

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