Trade review 7-8-11

I got a few plays right on Friday...

Hits:

TBSI

A flat open fell from the hod from the gun. It kept decaying nicely for the 1st 2 hours, when it climbed the rest of the way. It did not make it to the flat line, but closed down just under 1% on Friday.

LBAS

A textbook afternoon fade as this opened on a gap down that rose from the bell, soon going sideways which continued until just after lunch. Then it reversed, going green to red. Closed weak over 10.5% on Friday.

KNKT

A gap down open near the hod fell at once. It printed a new high just barely soon after on a bounce that failed to reach the flat line. Once the stock fell back under the opening price, a short entry arose. It continued to flounder all day, making a new low in the morning and rising into the finish to close red over 14.5% on Friday.

BPAX

A textbook red to green move early on that steadily rose all day into the close once the gap filled. It finished up over 13% on Friday.

Misses:

SNOFF

This looks like a push, but it's a loss. It opened on a gap down that filled at once. After going red to green, it kept going early before peaking in the 1st 1/2 hour. Then it reversed and went green to red, which could have faked out shorts. This did not last and it returned barely positive for good, ending up around 0.5% on Friday.

AOB

Another one that looks like a push, with a daily doji print finish, but is a loss. A gap down soon filled and greened early but after 5 minutes of trading. It rapidly peaked after possibly faking out some longs. Once it fell red it never regained the flat line, closing weak and down over 1.5% on Friday.

Push:

FEED

Hefty gap down discouraged entries long. It rose to try to challenge the flat line and fill, but failed. It immediately began decaying again, soon traveling under the opening price level, denying the Bulls. Closed south by over 4.5% on Friday.

Totals:
Daily record: W-4 L-2-P-1
66%

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