Tuesday, November 22, 2011

Trade review 11-22-11

I got a couple of plays correct today...

Hits:

PARD

An example of why you always watch a 2nd red day Supernovae, even if the 1st one was a big drop. A flat open from the hod steadily decayed, and closed weakly, down 25% today.

MTOR

A perfect bouncer as a gap down near the lod steadily climbed for longs, going red to green and holds early. It continued to thrive above the flat line all session, closing positive by over 6% today.

Misses:

INVN

An early cross under the flat line after the noise candle could have faked out a few overly eager shorts. It soon returned to the flat line, went under just a bit like before, then overtook the gap near lunch. A strong afternoon with a weak close ended matters up by over 6.5% today.

ALIM

A gap down began to fill at once. Longs just after the noise candle or the break over the flat line lost narrowly with commissions. It closed higher than it opened but still negative by over 2% today due to the gapper.

Push:

GEDU

Opening on a gap up near the lod, this just quietly advanced in its new price range. That was established the day prior off a merger catalyst. It still made my scan, and it's possible some profit taking still looms, even if not earth shaking. Shorts had no play, but might in the coming days. Prior to the price doubling gap, it had several green sessions. Buy volume dropping off a bit now. Closed positive by over 1.5% today on a no play.

GERN

No trigger here. A 1 cent gap down could only equal the previous closing price, and never touched the high of last time. Longs had no entry. It steadily fell from the open in the morning, then moved mostly sideways in the afternoon, closing south by over 10.5% today.

SAPX

Another no play that failed to trigger. This opened on a clear gap down near the hod which printed on the noise candle and the gap never came close to filling. A steady decay ensued, closing down over 35.5% today.

Totals:
Daily record: W-2 L-2-P-3

50%

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