I got a play right on this day...
Hits:
MZEI
This gap up tested the flat line several times, before finally cracking early afternoon and later on for the entry. It was a fade entry then. Although it tried to advance into the close, it fell at the end again to finish red by at least 8% today. Most shorts banked at least modestly.
Misses:
RAM
Another fake out loss for early shorts on this stubborn Supernovae whip saw nuisance. A 1 cent gap down fell on the noise candle, then printed under the open in the 1st hour before advancing slowly, eventually greening. It ended north by nearly 4.5% today.
Push:
DEJ
A flat open from the hod fell at once, so no longs were faked out. It decayed for nearly 30 minutes then moved sideways the remainder to close south by no less than 3.5% today on a no play push.
MGM
Another no play which did not trigger. A 1 cent gap down fell from a cent off the hod for the 1st few hours. Then it gradually rose until a weak close, which was south by over 3% today. A push.
PRXI
All signs were bearish here short term, but anything can and does happen in the stock market. Fortunately shorts were unlikely to have been fooled here, since it opened on a gap down that slowly advanced from near the lod. It printed a new one about 25 minutes in but that candle also closed positive and even greened. Sideways price action followed for hours until it broke out strongly in the afternoon, ending up over 23% today on a no play push. This play is a perfect illustration of why shorting weakness is almost always best.
EXEL
Another no play push on a gap up that failed to trigger. It fell from the hod steadily for an hour, then moved sideways a while before gradually rising but not enough to close the gap. Red end by over 3% today.
PWER
Yet another no play push as a 1 cent gap up for a new hod fell from the open as the high of today. Since the noise candle is not ordinarily traded, longs were not fooled fortunately. Down finish by nearly 5% today.
My off table selection, INSP finally closed south by a bit more than 0.5% today. But it did not offer obvious entry points off the gap down. Early shorts at best broke even or lost nominally.
I tried to do a Lunar Bounce play on ZAGG near the market close on my real account with Interactive Brokers but it just missed a fill on Book Trader. This is a bargain hunter/short cover tactic EOD that is used when the Dow closes at or near the lows and the equity sports an even decay to lows all day. It was already up from where I tried to enter, and I suspect it will work out early tomorrow for what would have been a win. I do not feature this type of set-up on my lists, since it needs to be scanned live and entered at the last instant.
Totals:
Daily record: W-1-L-1-P-5
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:
MZEI
This gap up tested the flat line several times, before finally cracking early afternoon and later on for the entry. It was a fade entry then. Although it tried to advance into the close, it fell at the end again to finish red by at least 8% today. Most shorts banked at least modestly.
Misses:
RAM
Another fake out loss for early shorts on this stubborn Supernovae whip saw nuisance. A 1 cent gap down fell on the noise candle, then printed under the open in the 1st hour before advancing slowly, eventually greening. It ended north by nearly 4.5% today.
Push:
DEJ
A flat open from the hod fell at once, so no longs were faked out. It decayed for nearly 30 minutes then moved sideways the remainder to close south by no less than 3.5% today on a no play push.
MGM
Another no play which did not trigger. A 1 cent gap down fell from a cent off the hod for the 1st few hours. Then it gradually rose until a weak close, which was south by over 3% today. A push.
PRXI
All signs were bearish here short term, but anything can and does happen in the stock market. Fortunately shorts were unlikely to have been fooled here, since it opened on a gap down that slowly advanced from near the lod. It printed a new one about 25 minutes in but that candle also closed positive and even greened. Sideways price action followed for hours until it broke out strongly in the afternoon, ending up over 23% today on a no play push. This play is a perfect illustration of why shorting weakness is almost always best.
EXEL
Another no play push on a gap up that failed to trigger. It fell from the hod steadily for an hour, then moved sideways a while before gradually rising but not enough to close the gap. Red end by over 3% today.
PWER
Yet another no play push as a 1 cent gap up for a new hod fell from the open as the high of today. Since the noise candle is not ordinarily traded, longs were not fooled fortunately. Down finish by nearly 5% today.
My off table selection, INSP finally closed south by a bit more than 0.5% today. But it did not offer obvious entry points off the gap down. Early shorts at best broke even or lost nominally.
I tried to do a Lunar Bounce play on ZAGG near the market close on my real account with Interactive Brokers but it just missed a fill on Book Trader. This is a bargain hunter/short cover tactic EOD that is used when the Dow closes at or near the lows and the equity sports an even decay to lows all day. It was already up from where I tried to enter, and I suspect it will work out early tomorrow for what would have been a win. I do not feature this type of set-up on my lists, since it needs to be scanned live and entered at the last instant.
Totals:
Daily record: W-1-L-1-P-5
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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