Tuesday, September 27, 2011

Trade review 9-26-11

I got a few plays right on Monday...



A gap up open began to fall early and often for the fade play. It took out the previous close and kept up the decline, ending south by over 1.5% on Monday.


A modest win likely here due to the price action sequence. An early noise candle high began to fall early. A gradual recovery soon retook the previous close for the entry. It faded later but the early lows held. A strong close followed that also finished above Monday's open and positive by over 2% on the day.


The bounce play worked like a charm, with spikes on the 1st, 2nd and 3rd candles. Anyone not getting out on the considerable correction would have probably broke even at least if exiting at the close, which was north by over 2% on Monday.



This seemed to crack early and often, but gradually recovered following a gap up open that closed under the debut but well off of the lows. It ended up very nominally, but the entry point was probably lower. I was a day late here as it did work out for shorts on Tuesday.



It's possible some longs banked here once it traded over the previous close or even high, but it dived hard from the start and took hours to recover, and most buyers would have avoided it or moved on. It closed below the open on Monday but positive by nearly 2% due to a gap up. The close likely was above the entry.


Longs never had a play here when a gap down open from the hod fell from the start. It failed to take and hold 1.50+ and closed south by nearly 7% on Monday.


A flat open closed above the debut but failed to vanquish 2.50+ so longs never had a shot. The hod printed out of the bell and it traveled sideways most of the way. Closed north almost 1% on Monday on a no play.

Daily record: W-3 L-1-P-3


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