Saturday, May 05, 2012

Trade review 5-4-12

I got a few plays right on Friday...



A gap down soon filled and clung to the flat line most of the day, before breaking out in the afternoon. It triggered, then coasted into the finish up almost 1.5% Friday. Modestly profitable likely after commissions.


Opening on a gap down at the hod, this broke under the trigger on the noise candle, rebounded, and offered a 2nd entry sell that worked, too. It gently decayed en route to a red close of over 7% on Friday.



A fake out loss for shorts when a gap down almost filled then fell and traded under the open and low after the noise candle. It bottomed near lunch, then advanced steadily into the close, up almost 2% on Friday.


A clear gap up faked out longs when it advanced beyond the noise candle and triggered. It soon peaked and headed back to and under the flat line for good. Closed negative by over 2% on Friday. A loss.


Another early trigger long after the noise candle off a gap down fill that eventually headed back to and finally under the flat line near the close, ending south by over 1.5% on Friday. A loss.



No trigger here as a gap down filled early but could not hold it or reach the entry level price. It stayed under the flat line most of the day, en route to a red finish of over 2% on Friday. A no play push.


Opening on a clear gap up this held the flat line twice and 10.50 so no short beckoned. Then it advanced slowly all session, en route to a green finish of over 7% on Friday. A no play push.

Off record pick FONR did not bounce, but it's long overdue to have a spring day so keep watching it.

Daily record: W-2-L-3-P-2


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