Tuesday, October 04, 2011

Trade review 10-4-11

I got a few picks right today...



A perfect play short when a gap down under 5 fell from the hod and consistently printed under the opening price after the noise candle. It closed south after a gradual decay by over 5.5% today.


Opening flat, this dumped hard after the noise candle, then gradually stabilized. But longs had the last word when it soared during lunch on successive candles, becoming an entry on the 3.50 take and hold. After peaking, it tested the flat line twice, but held and closed strongly to end up nearly 10% today. Early shorts would have banked as they had plenty of time to exit given the price action, as well.


An easy win for longs as this gap up near the lod traded above the opening price after the noise candle consistently. It weakened into the close but ended still positive by nearly 5% today and above the likely entry.



A gap down a cent under the lod began falling early and fell under the previous close after the noise candle. But it faked out early shorts when it rose near lunch, fell red again in the afternoon, and close strong to end positive by over 3% today.



This never triggered. A gap down fell steadily from near the debut that ended red by nearly 18% today.


Opening on a gap down this tried to fill early but only could barely hit briefly over the previous close, with the same candle closing below and negative. A 2nd and even weaker try equaled the gap, but closed under the flat line as well. A gradual decay and afternoon dump ensued, and a strong close ended red by over 0.5% today. Longs were not likely fooled at any point due to the price action, so a no play was almost certain.


Support broke when a flat open dumped from the gun. This lasted for a while, then a rise followed that failed to meet the flat line. A retrace of the lows commenced and it closed strong, but still down by almost 1.5% today. Longs never had a play other than to keep flat.

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


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