Monday, June 06, 2011

Trade review 6-6-11

I got a few plays right on this day...



Opening on a gap up not far from the lod, this went sideways and held the flat line well enough, gradually advancing for a clean long on the Bullish Engulfing 2nd day strategy.


Opening on a gap down at the hod, this Red floater play worked well. It gradually decayed most of the way and never threatened the flat line, en route to a down finish of nearly 4% today.


A nice afternoon fade which lasted into the close ensued for the short entry. A gap up open fell red near lunch and never looked back. Closed south almost 3% today.


An early gap fill from a down open did not last, and a nice short arrived. The technical levels I mentioned as crucial were taken out, and it kept decaying all day evenly. Closed down almost 3.5% today.



A loss due to whipsaw fake outs galore. 3 times today it fell red and returned green but shorts could have been stopped out on a squeeze in the afternoon. It closed weakly, going back under the flat line but only reaching the lows. It's possible several shorts would have lost given commissions even if the play broke even.



No play for shorts as this opened on a clear gap up and closed lower than it opened, but still positive by over 2.5% today. No great movement and no green to red move meant a flat stance.


A no play, though most early entries long would have banked. A clear gap down at the lod reached to fill at once, but came up short so no entry arose. It clung just under the flat line all day, going nowhere and sideways. Closed negative by less than 1 half of 1 percent without a buy possibility.

Off record picks went as follows: CPRX was just a gap up and crap from the hod. This did not mean a long but shorts banked nicely. It fell red fast and closed weak, ending down over 14.5% today. NWBO opened on a gap up and soon fell red. Nice even fading ensued and while it closed off of the lows, it was negative by over 2.5% today. The stop held if just over 0.89 on the high tests.

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


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