MOMO---I had a couple different scenarios for this stock. I had mentioned that the ma200 was not too far down below and that we needed to watch it carefully. My main idea was for a second day continuation long if we showed some strength in the morning. However as you can see intraday right away weakness is strong. There is no entry opportunity since the move is fast and down to support near the ma200. From this spot you could even take a long trade if you so wished. However remember the strong downtrend the stock was originally in. As you can see it eventually tops out at prior support from Friday , now resistance and a great short ( farther away from the ma200) can be taken. OUt of my plan I do like that I incorporated both a long and short situation. I just think I should have put some extra weight on the short play since the long candle on Friday was not extremely bullish. I may have been too focused on longing at the ma200 over the bigger play with trend once the long got faded. Here is a look at the intraday action
AKAO---Ok this one was tricky. I had placed more weight on a short play since it seemed to be a pump and dump on its way down. And there was a short play in there, eventually , but not in the way I expected. AKAO was sitting at support and for a short play to occur I would have liked to see either a break of this support or a g/r style move that began away from support. My idea for a long was if we held support and set up long which is exactly what happened. On this one as the last name I liked that I had both scenarios accounted for short and long. I also wish I had placed a bit more emphasis on a potential long scenario since we were at a strong support. Here is an intraday snap shot of the action
M---Here is one I got wrong.My idea here was for a long set up. I had no plans whatsoever for a short play since I saw we were at support levels. We saw an attempted weak move at the open to go higher that was getting faded over and over until eventually a crack to lower lows was seen. I liked being disciplined on this one and not getting in simply because it looked weak but maybe next time I should account for a potential g/r type move since even though it had a big candle on Friday it was not extremely over extended and it was a day 1 type move. All in all though a good and safe move not to get in.
FSLR---Actually quite similar to M but in reverse. There was a strong resistance above the ma50 , If the move had been r/g but red from farther away ( more space to the ma50) it could have been a good long. However this open was too close for comfort to me. It was not a short in my eyes because it wasnt extended, it just happened to be sandwiched between not being too extended and the ma50 so better not to take a trade here at all. As you can see though if you took a long once it was further away from the ma50 and had made higher lows you could have had some nice gains ( going with the trend) I do not have any comments here as I liked my discipline not to do anything here. Although a long trade farther way from the open would have been nice!
PAY---Here is one that did not amount to much. If I were the flash I could have hit it right at the open once it broke the consolidation range but I wasnt fast enough.. It did begin to flag after the initial run but that flag was too far away from any support and was not big enough to make me feel safe entering for a long. Faded for the rest of the day , so no trade here for me.
WUBA---Here was a tricky one that ended up doing what I wanted it to do but without me in it. My idea here was for a short once it went under the support area it had formed under 30.15 or so I believe. It moved nicely down to that zone but then shot up looking like a long set up was now in play. ONly to turn around and fade away for the rest of the day. In a situation like this it is very important to know where the levels are and what has to be broken to set up a short play. In WUBA the true break of the support was around 30.14. So after the break you wait for a pullback and then you get in. Even if the pullback happens to be bigger than usual as it was in this case. Just little things to notice.
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