Trade review 7-11-11

I got a few picks right today...

Hits:

SNOFF

Despite the the clear gap down debut, this was an easy short when it consistently printed under the opening price level after 5 minutes. It continued to bleed south, closing down almost 10% today.

TBSI

Another easy one as this gap down near the hod fell at once. It just kept diving, closing weakly and down over 22.5% today.

FFN

A vanilla win as this gasp down filled fast and greened for the entry. It did not last, falling back under the flat line but holding over the initial low and returning positive. This kept above the probable earlier entry point, closing north in range of 1.5% today.

SPU

An early fill of a gap down greened, yielding the entry long. All trips to retrace held the initial low, so stops should have held. A strong close finished up almost 2% today. This was over the probable earlier entry point.

Misses:

KNKT

This looks like a clear win, but it's a loss. That's why I am one of the most honest reporters of my results. I actually pinpoint the likely entries and exits, to determine outcome on picks! Despite closing south over 6% today, most of that was lost in the gap down. The gap down reached to fill, failed, and then resumed weakening. The probable entry point when it took out the opening price was below the close, so it's a loser.

Push:

PCYC

An obvious no play as this potential long opened on a gap down and failed to fill and make a new high. Then it fell under the open and began a lengthy slide. Closed off of the lows but still red by over 3% today.

PKD

This gap down did not hold 6.50 and opened under it. It never triggered, and was an obvious no play. Closed south by over 3% today. It just kept sliding gradually down most of the way.

Totals:
Daily record: W-4 L-1-P-2
80%

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