Wednesday, May 18, 2011

Trade review 5-18-11

I got a few plays right today...



A gap up advanced a while, then fell red to yield the shorting signal. It bounced a bit, but not long and not much over the flat line.It alternated flat and red a bit before closing weak, to finish down by over 5.5% today.


An ideal play. This opened flat at the hod, and crapped. Consistently printing under the opening price level after 5 minutes of trading, this drifted down most of the way, never greening. Closed south over 46.5% today.


Another easy one. Modest gap up near the hod fell near the gun, and kept fading all day.An early bounce failed to green, and it closed negative by nearly 4.5% today.



Things looked good early, with a gap up going red fast and staying down an hour. Then it recovered to the flat line. After a sideways march, it drifted higher all afternoon, closing green by nearly 16% today. A fake out.



A good example of why trading in the 1st 5 minutes often loses money. Fortunately, the timid move up on the noise candle ended 4 minutes in, and it fell from there. Soon going red, it just decayed all day mostly, but I said to keep flat on such a scenario. I doubt any longs were trapped with this price action. Closed down by over 5.5% today.


A gap up closed a cent over the open. It never really hit our entry level, just by a cent very briefly, and in a way that probably did not suck any longs in. After a timid rise debut, it went green to red and kept falling in the morning. It took a long time to slowly rise to the flat line and then to green, eventually hitting our desired level but stopping there. It went sideways and down, closing positive by less than 0.5% today on a doji print. The price action, timing and length of time it hit even with our initial level should have avoided Bull losses. 7 never was threatened, either, for the more conservative longs considering entry.


I said to keep flat over 0.08 but this gap down started filling at once, never giving shorts a chance. Avoiding a loss was easy for them, fortunately, given the price action from the start. After a quick red to green, it drifted north all day, closing up 19.5% today.

Off record, TSTF did not fare well. It opened on a gap up that essentially crapped. But it moved up just enough it's possible some longs were trapped. It quickly peaked, then headed slowly down all day, going red fairly early. Closed south by over 8% today.

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


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