Wednesday, May 11, 2011

Trade review 5-11-11

I got a few plays correct today...

Hits:

QTWW

This opened at the lod and just went up. It closed off of the highs, but still green by nearly 28% today. A nice call I am sure most blogs missed. Great volume, too. Technical level B/O's like this are nice if anticipated.

RMTI

I have been nailing over extension calls lately, this one was pretty routine. A gap up only advanced on the initial 5 minute noise candle. Then it fell, soon going green to red. It peaked and gradually climbed in the afternoon, but still closed negative by over 4% today.

Misses:

LOGL

Many new potential longs today probably did not bite for a loss, because it looked weak early on. But a gap down open eventually went red to green, albeit narrowly. This did not last, however. In the afternoon it also looked weak and closed down somewhat less than 1.5% today. Since some longs could have lost, it's a loser.

HCKT

Another loss as this looked weak early but soon went red to green. This lasted a while, but traded sideways after quickly peaking. It headed down in the afternoon and closed weak, south by over 3% today. Fake out.

Push:

OXGN

The lod printed in the initial noise candle. A gap up that meandered briefly zoomed north and never looked back. I doubt any shorts were caught on this beast. I said to keep flat on strong price action. It closed up over 23% today.

LSCG

Here again, aside from the initial 5 minute noise candle, it was all down hill. No real fail at 4 occurred and it closed unchanged from the previous close, but under the opening price today. It hugged the flat line most of the way, never giving shorts a chance and it's lack of spiking early precluded longs.

ISTA

A sizable gap down did not help potential longs. It went red to green but failed to pierce our technical B/O area. Low volume distribution. The hod was almost the same as the other 4 recent failed attempts there. Closed red by nearly 2% today but I said to keep flat on fails.

Off record, ARTX opened and closed at identical prices on low volume. A long lower shadow, though. Shorts might have banked if they did not cover EOD. It was strong into the finish. This could still go Supernovae, having only faded about 1% today. BIOS looks like a win, but most who faded probably broke even or lost on commissions. It fell from the 1st 5 minute noise candle, then went sideways. It closed down over 1.5% today but most entries would have been small gains or small losses given the price action.

Totals:
Daily record: W-2 L-2-P-3
50%

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