I got a few picks right on this day...
Hits:
FTWR
A flat open began to fall at once, which was a good sign. Soon after it rose and greened, but could not take out its initial high. Then began to fall back to the flat line and fell under, triggering a short entry, especially once it exceeded the opening price level. A slow decline set in, and it closed negative by nearly 7% today.
PPMIQ
As I suspected, a flat open could not hold the flat line and it drifted under, yielding a short to those lucky enough to find shares. It continued to drift, not exceeding the gap, closing under the likely entry point and south by 25% today.
Misses:
MNI
A fake out loss for shorts when this gap up fell soon after the open, eventually diving under the flat line and the opening price level. After sucking shorts in, it gradually rose, retook the flat line, and stayed a tad over en route to a positive finish by a bit less than 0.5% today.
CYAN
Another fake out loss for shorts when this gap up advanced initially, but soon fell under the flat line and opening price level. It bottomed soon after and gradually rose, closing strong to end up over 3.5% today.
Push:
ALIM
No trigger. Its high was a cent under the high of last time, in fact. A gap up fell out of the gate, quickly going red and continuing to dive, closing weakly and south by nearly 19% today.
MNTX
This gap up was under the previous session high, but it also fell at once from the hod, eventually hitting and exceeding the flat line. A slow decline followed, leading to a weak close down by over 2% today.
ALZM
Save for the noise candle, it fell. The very next 1 printed red, and it began to fall back to and under the flat line. Some scalps upwards at the gun might have banked, though I never much suggest entry in the 1st 5 minutes. A try to rebound failed, and it resumed fading, drifting into the close down almost 33% today.
Off record pick THQI fell out of the box, so no longs got a play or were fooled. What you can learn from this and several of the "pushes" is that very often needless losses on intended potential plays can be avoided with flat stances throughout the targeted session, when the price action does not suggest entry. A key skill!
Totals:
Daily record: W-2-L-2-P-3
50%
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
Hits:
FTWR
A flat open began to fall at once, which was a good sign. Soon after it rose and greened, but could not take out its initial high. Then began to fall back to the flat line and fell under, triggering a short entry, especially once it exceeded the opening price level. A slow decline set in, and it closed negative by nearly 7% today.
PPMIQ
As I suspected, a flat open could not hold the flat line and it drifted under, yielding a short to those lucky enough to find shares. It continued to drift, not exceeding the gap, closing under the likely entry point and south by 25% today.
Misses:
MNI
A fake out loss for shorts when this gap up fell soon after the open, eventually diving under the flat line and the opening price level. After sucking shorts in, it gradually rose, retook the flat line, and stayed a tad over en route to a positive finish by a bit less than 0.5% today.
CYAN
Another fake out loss for shorts when this gap up advanced initially, but soon fell under the flat line and opening price level. It bottomed soon after and gradually rose, closing strong to end up over 3.5% today.
Push:
ALIM
No trigger. Its high was a cent under the high of last time, in fact. A gap up fell out of the gate, quickly going red and continuing to dive, closing weakly and south by nearly 19% today.
MNTX
This gap up was under the previous session high, but it also fell at once from the hod, eventually hitting and exceeding the flat line. A slow decline followed, leading to a weak close down by over 2% today.
ALZM
Save for the noise candle, it fell. The very next 1 printed red, and it began to fall back to and under the flat line. Some scalps upwards at the gun might have banked, though I never much suggest entry in the 1st 5 minutes. A try to rebound failed, and it resumed fading, drifting into the close down almost 33% today.
Off record pick THQI fell out of the box, so no longs got a play or were fooled. What you can learn from this and several of the "pushes" is that very often needless losses on intended potential plays can be avoided with flat stances throughout the targeted session, when the price action does not suggest entry. A key skill!
Totals:
Daily record: W-2-L-2-P-3
50%
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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