Monday, May 30, 2011

Trade review 5-27-11

I got some plays correct on Friday...



Easy win here as it opened at the lod and mostly sneaked up all day, pulling back to the lod near lunch but holding. Closed under the hod but still positive by over 4% on Friday.


Mission accomplished as this took 1.87+ early on but after the noise candle and rose most of the morning, before it moved sideways the rest of the way, closing positive by over 6.5% on Friday.



A fake out loss short as this opened flat and advanced early, before going green to red about 30 minutes in. It did not last, though, reversing and greening, holding the flat line and closing strong up 7.5% on Friday.


A sad loss as this opened strong and kept going after the noise candle, but fast peaked. Anyone entering above 9.07 as planned lost money. It fell back to the flat line and managed only to get a bit above it, not being able to retrace the earlier highs. Closed positive by over 1% on Friday, but the price action lost for longs.



Anyone entering after the noise candle optimally at best broke even. It fell so hard and far out of the gate it was hard to short into, even though it looks like a win on paper. We did fail near 10, though the price action was not such to permit a sane entry. Once the dumping stopped, it began to rise, and mostly drifted up the remainder. The early lows held. No long was possible, either, obviously.


This just kept soaring and top fish timing was too hard given how long the momentum sustained. It did eventually top and just faded out from there, but nobody sane was around by then. I said no longs, of course. Despite the big gap up, no early decay occurred. An hour in it was all down hill from there, but it still finished up almost 37% due to gapper and earlier gains.


Longs never had a chance here as this gap down never seriously got over the flat line. After falling out of the gate, it gradually reached for the flat line, but tapered off into the close, which was negative by a bit less than 1% on Friday.

Off record pick NEOM advanced AGAIN hugely, looking powerful from the gun, closing up over 276% on Friday, if you can believe it. Longs were over the moon, but I said to keep flat on greening. Clearly, it's going to be an awesome short soon, but Friday belonged to the Bulls. It was easy to avoid a squeeze, though, given how the price action played out, thankfully.

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


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