Trade review 7-14-11

I got a few plays right today...

Hits:

LOGL

At least a narrow win on most early entries long. It pulled back but the flat line was never in danger. These entries also won. Closed positive by nearly 4% today after a slow burn north.

CHBT

A perfect play for longs when this flat open near the lod just climbed all day. Did not close on the high this time but was positive by over 11.5% on the session.

GBE

A flat open advanced weakly out of the gate, then went green to red about an hour in, and it kept sliding the rest of the way. Closed south by over 12% today.

Misses:

VALV

A possible fake out of longs here on the gap up and soon after crap. The 2nd candle also greened, but it was mostly down hill from there. Ended positive due to the gapper, by over 14.5% today. Some losses likely.

MDW

It's true that 2.40 held on a test, but this could have faked out some longs both in the morning and late. It closed weak though up almost 1% today. No new yearly highs this time. Closed just cent over the open. Once commissions are factored in this one would have resulted in nominal losses at best.

Push:

CSKI

No trigger and strong early when a gap up moved north at once. It gradually decayed but still finished positive by over 2.5% today.

NEWN

This looks like a clear win, but it's not. One thing separating me and other pundits is I report my losses and wins accurately in terms of probable entries and exits. You have to have several plays daily to get a fair picture of records. Here, a gap up advanced early. The probable entry on the 2nd candle would have produced little if any profit. Figuring commissions, it's probably a push. Closed up over 7% due to a deceptive gap situation, although it closed higher than it opened. A retreat held the flat line, at least.

Totals:
Daily record: W-3 L-2-P-2
60%

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