Tuesday, May 03, 2011

Trade review 5-3-11

I got some plays right on this day...



A gap down not far from the hod just steadily sold off all day. Low volume, but red by over 24% today.


A gap up but under 1.50 proved to be near the lod as this soared over that and held nicely, advancing all day. It closed green by over 28.5% today.


I've really been nailing over extension calls lately in terms of quality, ease and timing! This gap up modestly 1 cent off of the hod stock fell most all of the day, closing off of the lows but still negative by over 10% today.


That fade arrived and how! A common fate of sleazy one or 2 day "pick 'em" promotions via e-mail newsletters. A gap down not well off of the high fell all the way back to previous week levels. That hod printed on the initial noise candle it fell steadily the rest of the way, closing red by over 55% today.



A gap down short trapper as this fell under the open price after 5 minutes, then soon reversed to whipsaw head fake, going red to green and holds. It closed off of the highs, but still positive by over 5.5% today.


Some red to green longs if not scalping could have been trapped after initial noise candle weakness gave way to a red to green long. This soon failed and it gently faded out all day, closing south by over 9.5% today.



Easy red to green long and spike up quick scalp on the 8 cross. The hod printed in the 1st 15 minutes and it decayed the rest of the way, but it still closed up over 1.5% today. But I said to keep flat on that price action.

Off table picks went as follows. LEE opened on a gap up at the hod and crapped, closing down almost 12.5% today. But look at the sell pressure, it might be a climax volume print. Bounce up is tomorrow or very soon, most likely. CNTF went nowhere, opening a clear gap down. Unlikely any longs got trapped as fill failed easily and no buy signal surfaced. A gradual fade ensued, closing down around 4% today.

Daily record: W-4 L-2-P-1

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