I got one of these things right today...
Hits:
EM
A near perfect play as a gap down from near the hod began to decay at once. A gentle glide down with prices consistently under the open ensued and it had a weak afternoon and lukewarm close that ended it south by almost 5% today.
Misses:
LBAS
Although unlikely, this gap down eventually filled and greened, which could have faked out some longs. It was short lived, and did not make more new annual highs. A weak afternoon with some improvement late resulted in an unchanged end relative to the previous close. After commissions, it was a small net loser for buyers.
Push:
HEARQ
A gap down at the lod immediately advanced, giving shorts no play. It greened, but closed weak though up over 2% today. No entry possible.
ESLR
Another no play when a flat opn at the hod fell at once. It panicked hard early then bounced, traded sideways, then closed weak to end south by over 34% today. Longs did not have an entry.
AOI
Huge gap down never triggered, though it did briefly get over the close of Friday and fill gap about 30 minutes in. Longs never had a play. It immediately peaked as described above and began a long march south. Closed down over 7% today. Could not hold 3.20 either, so that approach was out as well.
FEED
This closed a cent over the open, but could not be played given the sizable gap down open. It continued to decay early then bounced, but failed to close the gap. An uninspired finish followed ending down over 3.5% today. No entry was possible.
PCS
Another sizable gap down prevented a bounce play entry. It did advance early to a degree, but the flat line was never threatened and it did not spike. Sideways and downward moves into a red close of almost 6.5% today that did not yield any longs.
Totals:
Daily record: W-1 L-1-P-5
50%
New users: Read my trading guide for my play set-ups!
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Hits:
EM
A near perfect play as a gap down from near the hod began to decay at once. A gentle glide down with prices consistently under the open ensued and it had a weak afternoon and lukewarm close that ended it south by almost 5% today.
Misses:
LBAS
Although unlikely, this gap down eventually filled and greened, which could have faked out some longs. It was short lived, and did not make more new annual highs. A weak afternoon with some improvement late resulted in an unchanged end relative to the previous close. After commissions, it was a small net loser for buyers.
Push:
HEARQ
A gap down at the lod immediately advanced, giving shorts no play. It greened, but closed weak though up over 2% today. No entry possible.
ESLR
Another no play when a flat opn at the hod fell at once. It panicked hard early then bounced, traded sideways, then closed weak to end south by over 34% today. Longs did not have an entry.
AOI
Huge gap down never triggered, though it did briefly get over the close of Friday and fill gap about 30 minutes in. Longs never had a play. It immediately peaked as described above and began a long march south. Closed down over 7% today. Could not hold 3.20 either, so that approach was out as well.
FEED
This closed a cent over the open, but could not be played given the sizable gap down open. It continued to decay early then bounced, but failed to close the gap. An uninspired finish followed ending down over 3.5% today. No entry was possible.
PCS
Another sizable gap down prevented a bounce play entry. It did advance early to a degree, but the flat line was never threatened and it did not spike. Sideways and downward moves into a red close of almost 6.5% today that did not yield any longs.
Totals:
Daily record: W-1 L-1-P-5
50%
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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