Wednesday, May 25, 2011

Trade review 5-25-11

I got a few plays right today...



Nice easy win as this gap down reached for the flat line and failed, then steadily fell all day, trading consistently under the opening price level. Closed south by almost 20% today.


Another easy one as this opened on a gap down at the lod, rapidly went red to green for the entry. It soon peaked and gradually faded most of the day, but a strong close allowed it to finish up by over 2.5% today.


Shorts scored a boring modest win on a fail of 0.25 today as this gap down at the hod (which was the same as our key support level) broke at once. A rally mid morning failed to take out the high and it resumed sliding, closing down over 9.5% today. Most shorts banked, but not by a lot.



A fake out loss as this broke through 3 and seemed to be holding, but it did not last. It fast peaked and dipped back under the flat line. It traveled sideways, and retook 3 less convincingly later on, but most traders who were long would have exited by then, and the 2nd time over 3 also was short lived. It weakly held the flat line and closed weak to end down over 1% today. Most lost at least a modest amount on the play.


It's fair to call this a loss as although the gap down was a bit foreboding. A roller coaster ride ensued as the gap quickly filled, then it fell red mid morning. Some shorts could have bit on the opening price fail, but it gradually recovered from there, squeezing hard over the flat line late afternoon before a weak close ended the day up somewhat less than 2% today. The high was above the previous session one, which was hard to hold.



I said to keep flat on weak price action here, and 18.50 never materialized for longs. A gap down at the hod fell initially, then failed to retake the flat line. It moved sideways with a down bias, closing weak and negative by over 3.5% today.


Like the above stock, an easy loss to avoid as a long. I said no shorts, this opened flat at the hod and fell from there, not holding 3.50 on its test. A steady fade ensued in the morning, followed by sideways moves the rest of the way, en route to a negative close of over 8.5% today.

Off record pick LYJN should have been on my main list in my dreams. It worked perfectly, a gap down open near the hod began falling steadily from the gun, the high coming on the initial noise candle. It finished red by over 42% today.

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


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