Monday, May 16, 2011

Trade review 5-16-11

I got some of them right this session...



The hod printed in like the 1st 5 minutes of noise, then it tanked steadily. A clear shorting signal upon going green to red, it went sideways near the flat line and collapsed around 11 A.M. then gently faded into the finish, which was down by nearly 17% today.


Another easy one as a gap down never greened, opening near the hod and falling hard until nearly 11 A.M. before a failed bounce soon retraced its moves back down. A weak closed ended south over 13.5% today.


More easy money as a gap up near the hod fell near the open for the first 30 minutes. It bounced, even going above the open quite briefly, but left the earlier high intact and headed back under, this time for good. A slow decay followed and it closed negative by neatly 16% today.


A gap down near the hod which printed in the initial 5 minute noise candle fell from the start hard and steady the first hour. It went sideways and a bit up the rest of the way, closing off the lows but still red by nearly 31.5% today.


This did not pan out for longs, opening equal the previous session high and immediately falling after the initial candle had no range. Support held at 0.34 as I predicted. The fail under 0.40 was a short about 1 hour in, which closed near floor for a successful play on the failed momentum try. It never challenged 0.46 at all.



A loss since it looked like the long would hold. A gap up open steadily advanced, making new yearly highs. Then it cliff dive panicked shortly after lunch to go hard red. It steadily recovered in the afternoon, but ended negative by nearly 8% today. As several longs could have been trapped, this was just one of those sad twists.



This is a clear win by the numbers and appearances, but it's going down as a push due to the huge gap up. That's more playable in this type of situation in the direction it occurred, but suggests a flat stance. This one fell from the gun at the hod, going red by 11 A.M. which closed the gap. Incredibly, it kept going, closing off of the lows but still negative by over 8.5% today. Usually so much ground is covered on the gapper it's dicey.

Daily record: W-5 L-1-P-1


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