Sunday, June 05, 2011

Trade review 6-3-11

I got a few picks right on Friday...



This worked out well as a flat open at the hod fell from the gun, panicking nicely for the short entry. Any entry on the 2nd candle banked. A bit over a half hour in it gradually recovered, but failed to retake the flat line, but it closed off of the lows at least. A weak close ended it down nearly 3% on Friday.



A gap up fake out loss as it crapped initially from near the hod going to red. 30 minutes it was all uphill from there, as it gently rose and went green for good. A strong close helped it end up over 8.5% on Friday.



Longs never had a play as we opened below our trigger level on a nominal gap up and never came close to challenging it. Gentle fade all day. A no play. Small range and volume day ended down over 3.5% on Friday.


This was a no play. Opening flat at the hod, it immediately dumped on the noise candle. No long was possible due to this. It rose kind of from then on, closing off of the lows, but still negative by over 7.5% on Friday.


Another no play as gap down printed the hod on the noise candle. This eliminated longs. It began a descent thereafter, reaching early on only once for the flat line, but even that candle printed red. A slow fade ensured, but we never broke under 6.50 to short, either. Closed south by over 4.5% on Friday.


A significant gap down prevented any entry. It never got above 10.90 to go long at any point. The gap reached for a fill early, but failed to even hit the flat line. A weak close ensued down by over 3% on Friday.


A no play as this opened on a sizable gap down which printed the lod on the noise candle and immediately reached to fill. It continued to rise, eventually going somewhat green. It fell  back under for good not long after, but closed higher than it opened a bit. No obvious short entry and longs were off the table.

Off record picks ADLR opened on a gap down and printed the hod on the noise candle. It was down hill mostly from there. After reddening, it failed to regain the flat line and closed weak down almost 3% on Friday and presented no long entry. ENMD worked out well. It opened on a gap down and failed to reach the flat line. It recovered in the afternoon, but died at 5 as hoped for late, providing a nice short entry. It sold off hard into the close and ended negative by over 19.5% on Friday.

Daily record: W-1 L-1-P-5


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