Sunday, May 22, 2011

Trade review 5-20-11

I got a couple of these things right on Friday...



A flat open essentially advanced from the gun, peaked in the afternoon, closing well under the hod but still green by 5% Friday. Easy money.


Easy win on a gap and crap open at the hod, which steadily fell all day. Closed off of the lows but still negative by nearly 24.5% Friday.



A fake out loss whip saw. This traded over our technical entry level after 5 minutes of trading, then dived. It went green to red and kept falling in the morning. It then went sideways most of the way, but closed south by nearly 4% on Friday. Some longs could have been trapped for losses.


A gap down open began to fade slowly from the start. It kept up this after 5 minutes of trading, and could have drawn in shorts. The fading continued, but in the afternoon it began to reverse, even going green into the close, which was up by nearly 3% on Friday. A split personality loss.


I said no long, but it finished positive. Worse, it fell green to red late morning briefly, but it could have drawn in shorts under 4.50 on a fake out. Soon after it steadily rose, going green for good. Closed off of the highs, but still up over 5% on Friday. A loss is in order.



A gap down daily doji print did not yield a long entry at any time. It failed to hit either technical level during the session. A no play push. Closed negative by about 1 half of 1 percent, Friday, but that was all in the gap.


A gap up and crap from the hod yielded no entry for longs. It steadily fell early, then went sideways the rest of the way. It closed off of the low but still positive by about 1 half of 1 percent on Friday, due to the gapper. A no play.

My off table pick PURE essentially gapped and crapped Friday, which I thought possible but said to keep flat on. It was easy to avoid a long and keep flat given how the price action commenced. A simple no play push.

Daily record: W-2 L-3-P-2


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