Tuesday, May 29, 2012

Trade review 5-29-12

I got some picks right on Tuesday...



A gap up near the lod advanced early and often out of the gate. It peaked in a bit over 30 minutes and then began a long decline. It was a short once it passed under the open late morning. It continued to languish under it the remainder, though it closed up almost 5.5% due to the gapper. A win for shorts.


A win for shorts when a gap up advanced initially, then fell back to and under the flat line. It rallied back over but the initial high held. Then it fell back to the flat line, collapsing around lunch. The stock rallied short of filling the gap but stayed negative, closing down by over 2% today and under the likely fade entry.


A gap up fell on the noise candle, then held the flat line. A slow move up triggered for longs, and then it soared. It retraced a bit, then moved sideways. Closing strong near highs, it ended up over 3.5% today.


A winning short on the 3 fail. It fell under on the noise candle, so the test entry would have been after the reversal and r/g move that soon failed again. But even early shorts would have survived stop outs if they used the standard previous session high as their exit. It fell back red and declined all day, en route to a down finish of 13% today.



Looks like a win on paper, but the likely entry points long after the noise candle point to a finish which was either equal or a cent above the finish or so. That means it's a loser after commissions. +2% today at close.



Save for the noise candle this advance early and often, not allowing shorts a play. Retraces held the initial lows, and then it moved sideways the remainder, en route to a green finish of 11% today. A no play push.


The noise candle printed the hod on a big gap up, which discouraged buyers. It fell from that point on, never besting the initial high. Closed up over 7% today on a no play push.

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


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