Tuesday, May 10, 2011

Trade review 5-10-11

I got some picks right on this day...



Same old story, inching up like watching paint dry. Opening flat near the lod, this rose nearly 1% by the end of the day with steady crawling.


The gap down red to green long played out well enough. Aside from the initial noise candle, it printed above the opening price level by 10 minutes in. The gap continued to fill until a red to green move arrived. No less than the flat line held prior to strong close to end up over 6.5% today.


Another easy win as this one opened on a 1 cent gap down at the lod, which went red to green and then over 3 and holds for the long. Sellers by lunch made the most, as it faded in the 2nd half of the session, but still closed positive by over 2.5% today.


A gap down greened in the 1st 5 minute candle, yielding a long entry. This advanced in the morning, fell to the flat line in at lunch, moved solidly up most of the afternoon, but closed weakly to end up over 1% today. Most longs made money, but it was another paint drying affair. New 52's and 8.25+ today, too.



A fake out loss on a whipsaw. A gap up open fell below 4 early, but after 5 minutes. About 20 minutes in it headed back over 4 going red to green. After fading to the flat line it closed stronger to end up 1.5% today.



Aside from the initial noise candle, this gap up zoomed north from near the gun, denying shorts an entry for gravy. It closed up nearly 28% today. A big obvious no play.


A big gap down precluded safe entry for shorts looking for 2nd day gravy. It gradually filled that gap mostly, closing higher than it opened on low volume but still negative by over 4% today. Aside from the initial noise candle, it advanced to the flat line weakening late to make new lows before recovering again. A no play.

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

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