2-27-2006 Daily Stock Pick Results

Hmmm.. Despite the positive results, I would not really consider my day very succesful today. Only 2/8 picks that triggered made money and were it not for VPHM, the day would have been a total loss. I was able to score a quick R-Unit this morning via a QQQQ scalp so overall my day was respectable but I did make some mistakes today:

NVTL was not that bad of a play, it just failed to make it to my target. I really thought that 8.74 was conservative given a 8.53 breakout…I was wrong and perhaps pushing my luck given that weekly support at the 8.50 level had been broken pretty solidly. I may or may not have made this play again.

HRB was the worst call of the day as the fade attempt at the $23 weekly support area had been severely weakened by multiple re-testings over the past 2 years. I should have passe here and paid the full price for my mistake.

FCL was also a play that I don’t think I would normally take. While yes there was a price-void above the 41.40 area this is by no means the clean breakaway setup that I usually look for. Yesterday’s inside bar was not the best continuation setup since A.) it was on lower volume than Big Red before it and B.) This kind of continuation setup is best played after a 1-2 quick Big Green bars followed by a small red that doesn’t retrace too far. So many of my criterea were violated here that means that I’m becoming too loose. I will really try to tighten up on my entry criteria going forward this week as this is my 2nd day in a row of only 25% accuracy.

2-27-06 Results

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