Wednesday, November 16, 2011

Trade review 11-16-11

I got a play right today...



The spike up scalp worked and was obvious off the gap up and go today, particularly on a 1-2 minute chart. It kept advancing until lunch, then began a slow burn down after some sideways movement. This continued until the close, which was still positive by over 3.5% today. Early buys were long gone by then.



Early weakness off a sizable gap down probably saved many watching potential longs from ever entering, but this is a nominal loss on a fake out when it closed the gap in the afternoon and greened, going over 6 for a brief window. A weak closed followed to end it down by less than 0.5% today.


Another fake out when early weakness gave way to a red to green move which took out the previous day's high for a brief stint. A double top move in the afternoon preceded a weak close, which ended practically unchanged or nominally red. This was enough to result in a loss given the likely entry point.



A no trigger. It could only equal the last session high, not exceed it. A gradual descent followed sideways moves at open. A weak close followed to end matters down by no less than 3.5% today.


A flat open began to dump at once, so bouncer longs never had a play. It kept declining most of the day, with a failed rebound in the afternoon. A weak close followed to end south by around 10% today.


A gap up essentially advanced from the open, so shorts were not faked out. Near lunch this began a descent, but still closed up over 4.5% today. A no play.


Shorts never had a play here, either. A gap down near the lod printed it on the noise candle then it steadily climbed, going red to green for good. A pull back held the flat line and it closed strongly, up at least 13% or so today.

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


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