Tuesday, November 08, 2011

Trade review 11-8-11

I got some of them right today...



An easy win for longs when it opened right at 3 and soared early. It moved sideways with an upward bias tilt later on, closing up in the area of 11% or more today.


Another easy victory for longs when this gap up advanced early and later tested the 20 level and essentially held. From lunch on it rose, closing up nearly 2.5% today.



A gap down kept falling after 5 minutes, drawing some shorts in. But the dropping ceased by lunch, then it advanced steadily, closing strong and even greening by over 3% today.


This looks like a win, since it closed south by over 0.5% today, but the price action tells another story. A gap down kept falling after 5 minutes of trading and kept going during the morning. Some shorts could have entered during this period. But it began to rise about 1.5 hours in, and kept rising into the finish, almost filling.


A fake out on longs when this triggered on early spiking up. It peaked in 22 minutes and collapsed, giving back all that was gained and losing even more when it fell red. It recovered in the afternoon but closed weakly, down over 2.5% today to complete the whip saw.



A big gap up hindered any possible entry. At any rate, it never reddened, holding the flat line and rising all morning. Closed off the highs but north by 44% today. A no play for shorts.


This looks like a nominal win but after commissions it was likely  push at best, closing south by over 0.5% today. It opened flat, and reddened early. A flat line test held more or less and stops never would have triggered, and it headed back under for good. Sideways price action followed into the finish, almost a doji.

My off record picks went as follows: RAYS looks like a washout and bounce given it closed up nearly 6.5% today. But the price action sequence was not as kind. After a gap up fell early, it meandered under the flat line for hours before greening into the afternoon and the close. Any profit would have been modest at best. TSTC was a great call I wish had been on my regular list. After early greening, it soon fell red and kept going into the close, ending down over 8% today. A split decision on these, arguably.

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


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