Wednesday, May 23, 2012

Trade review 5-23-12

I got some of these things right today...

Hits:

GENE

A perfect short when this gap up and crap from the hod fell on the noise candle. It was a spike scalp and it also had 2 other entry points for sellers, early and mid morning. It closed off the lows and moved sideways in the late going, but still ended down by over 11% today.

SMAA

This worked per script off a gap down under support which kept falling early and then gently declined the remainder, en route to a red finish of 30% today.

Misses:

PPT

A possible whipsaw loss here when a gap up triggered (in theory) very late. Most potential longs probably kept flat. But it closed just under that price, and with commissions, it's a loss. Ended up over 0.5% today.

Push:

ROSG

A gap up and go from near the lod advanced after the noise candle after holding the flat line. It rose evenly all session, en route to a green finish of over 51% today. A no play push as shorts had no option.

SVNT

A no trigger push when this gap down failed a flat line test and began to drift down late morning. It closed off of the lows a bit, but still red by almost 5% today. No play.

SONC

A sizable gap down deterred shorts, thankfully. It also printed the lod on the noise candle, which helped, too. It then gradually climbed to and over the flat line. It kept above or equal until it finished up about 1.5% today. A no play push.

LUXR

A 1 cent gap up almost triggered early, but did not. It immediately fell back to and under the flat line, never returning and closing south by over 3.5% today. Longs had no play, hence a push.

Totals:
Daily record: W-2-L-1-P-4

66%

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