Trades 27/11/13

WASHOUTS ARE PROVING  DIFFICULT ... GRINDERS I'M GETTING THE HANG OF
BEST AVOID SHORTING AT THE OPEN ...
FOCUS ON GRINDERS AND SHORT FADERS IN THE AFTERNOON


Gappers: 2/5 (down)

$NPWZ down big
$NTEK ok
$IACH ok
$MOBS down
$PAYD down



Grinders: 3/4 (up)

$ELTK looked ABCD - risking 10c to make 40; sold half for 20c, half for b/e -> need to get take bigger sizes and take 20c 
$OXBT 6.03 6 risk 6.40 target out half 6.19 half 6.29 beautiful
$DRYS not a perfect setup but minimal risk in 3.28 risk 3.25 target 3.34 flat
$ATRM 8.85 with 8.60 risk 9+ target 9.40 -> lacked the liquidity, but stuck to my stop (as in was patient enough and was rewarded in a 50c move. YAY!)
$ELTK anticipating a short squeeze in 3.30 risk 3.25 target 3.40 no good small loss

Faders: 4/4 (up)

$DRTX 12.30 with 12.40 risk 12 target - has been up a fair bit, but not the best set up -> perfect! covered 12, 1190 and 1180
$BIOS 6.99 with break over 7 stop. 690 680 targets - first target met with a big sell order covered rest 685-690
$ELTK again on that major level - this time took 10c
$ELTK yet again on afternoon fade 3.20 hoping to cover low 3s - covered 3.08

Shorts: 2/3 (up)

$UVE 11.45 11.50 risk g/r move target -> no good will try again
$UVE again 11.50 this time nhod 11.70 risk 11.20 and under target
$ELTK on major support break - took 9c

Washouts: 3/4 (up)

$TLYS 11.72 11.60 risk 12 target - good for 20c
$TLYS again on trend 11.80 with 11.75 risk 12.10 target sold most 12
$BRLI looked trending 30.60, 30.50 risk, 31, 32 target -> stopped out no good
$ECTE on 4 break - went big too as risk was limited (10c) and target was 50c - took quick profits at 4.10, 4.20 -> great trade key here is I took a larger position as the r/r was good