Sunday, May 08, 2011

Trade review 5-6-11

I got a few of them right on Friday...



A nice trade. This opened on a gap down at the hod and soon fell red. Low volume dumping followed in a gentle fade all day, which closed off of the lows but still negative by over 25% on Friday.


Another nice one. A gap down open at the hod fell from the gun, slowly fading all day. Closed down by 18% on Friday.


Inching confirmed. A gap up mostly meandered up all day. Near lunch one 5 minute candle dipped red, but it was followed by a green gap. This move up continued all day, & it closed on the hod by nearly 3% on Friday.


A top notch scalp and even longer hold ensued here. Opening near the lod, it zoomed up for several green candles, squeezing shorts as a low floater. It peaked in hour, and closed off of the highs, but still green by close to 34% on Friday. Comparative volume was high again, even more so than on Thursday.



My report on this shows why I am one of the most honest of penny stock trader gurus. Despite a nominal green print, I am not even claiming a push. The reason this is a loss is my entry criteria were at 16.76ish as a minimum. This happened in the first noise candle at the open, but the level was also hit near lunch. An entry then means lost money, because it closed at 16.60 for longs.



This jumped from the bell, denying shorts an entry. The 1st noise candle had some range but closed even with the open. No flat line cross, no clear shorting signal. The next one zoomed up. It peaked, and fade the rest of the way, but that would have needed top timing to fade. A daily doji print ensued, with 1 cent of upside on low volume. It closed green by over 2.5% due to a gap up debut.


I got the direction (up) right, and it opened right under 4. An entry of any size at 4.01-4.02 made money, while one at 4.03 or higher lost money. Volume ticked up a bit. It fell back negative early, but the lod was only equal to the closing candle on Thursday, so most longs probably held on. It advanced the rest of the way, closing green by 1% on Friday. Most longs I assume probably broke even or a tad better, suggestive of a push.

My off table pick BYD failed to get an entry signal, so it's a push. It never hit 9.95+ to enter, so keeping flat was the only option.

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

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