Wednesday, February 01, 2012

Trade review 2-1-12

I got some picks correct on this day...

Hits:

PROT

After 30 minutes this began to trade under the open, yielding the short off a gap down. It had a great afternoon dump for more down side or another panic entry. Closed down nearly 20.5% today for the win.

MILL

A gap up soon fell under the flat line for the fade entry. It rose back to and a bit over the flat line, but the earlier highs and thus stops held. Patience was rewarded when it fell into the close, ending down by about 1.5% today and likely under the entry price.

ZAGG

Except for the noise candle, this advanced and triggered easily, moving over the open consistently. It peaked in an hour and decayed much of the remainder, but still closed up over 4% today and above the entry price.

Misses:

ENTG

Longs were faked out when this gap up moved sideways and then shot up over the opening early. It peaked in an hour then began a long slide down, actually reddening into the finish, which was red by over 0.5% today.

DWCH

A fake out for shorts when a gap up fell under the flat line briefly near lunch. It soon returned back to green, nominally so but up nevertheless. It closed north by a bit less than 0.5% today and likely above the entry.

REE

An early red to green move that broke over the trigger briefly sucked longs in. It soon fell back under the flat line and bottomed in an hour, moving sideways the remainder and closed south by over 5.5% today.

Push:

CALL

Except for the noise candle, which printed the hod, it fell, soon going under the flat line. This decay continued all session, en route to a negative close of over 12.5% today. The good news is longs were not faked out.

Off record pick CDTI began to weaken on the noise candle, which printed the hod. It rebounded to equal but could not take out the initial high. Soon it fell under the flat line and continued to dive, closing red by over 6% today. The price action prevented fake outs for longs, fortunately.

Totals:
Daily record: W-3-L-3-P-1

50%

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