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Trading results 1/7/11

I could have closed up shop at noon but I don’t find out until after the close.

I closed out the NWPX trade short that didn’t work out a couple of days ago. Not many shares and an odd lot so I just put a bid in and let it sit. With the fall it took the other day I often see a pattern of it following through later even if it done mostly recover in the same day. This is a pattern I first really started to look at after the flash crash last year. If you look at the SPY during the flash crash you can see that it makes the large move down and then mostly recovers. It is not able to really make any move higher and ends up falling further/lower then the low of the flash crash. There are other qualifiers to this pattern and NWPX seemed to match them. I am adding it to my studies and will start to back test it to see if there really is the pattern or I am seeing a pattern falsely out of randomness. I did get one signal out of SYNT which including the scalping took about 50 minutes and then my day was done.
COCO gave some ground back today. I didn’t trade it but I am interested in selling some more puts (to become more long) as my Jan 4 puts I am short are now pretty much worthless. I will be looking to roll them over to the Feb or later 5s.
C touched 5 again for the first time in a long time. I no longer hold it and I would not at this price. QE2 is wonderful for getting the balance sheets looking good for the banks but sooner or later they will have to come back to reality and I see no edge buying here. Under 4 and I would look at buying again but if it falls back under 4 something else probably has gone wrong so then again maybe not.
ICOP my short waiting to have the death warrant signed fell some today.
NWPX + 3
SYNT + 383

+ 386