Watchers for the 3-19-12 trading session
MUI
See my previous comments. This is still bottoming out, and while it did not rise Friday, it could by Monday or thereabouts. No A/ quote, avoid big gaps, especially up ones.
FALC
Red floater scan return. Idea is to play for more down side on day 2. Ended down about 3% on Friday via a gap down that closed below the open after 7 up days. Stops just above 3.61 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Medium sell volume on Friday which means it may have reasonable chances at best for shorts. Avoid all big gaps, especially large gap downs. No buys.
HUSA
Bullish Engulfing. I like this long over the high (7.35) of Wednesday. Fairly large volume on the rise, which is a tepid sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 7 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
OSG
Over extension setting up here, though it might not be over yet. Possible gap over and fall back under 13 or fail on a test of that from below. That is a short. Or on spiking down at or near the gun as a fade scalp. No longs. Avoid all big gaps but especially gap downs. No A/H quote. Sell only into clear weakness.
XIDE
B/O scan. I like it long back over 3.15 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. Exiting below 3 on fails after trigger entering might be prudent. Early r/g? Clearly, holding 3+ will be the key here.
ONVO
Inching up. Many days of greening, and in play both ways. A tentative watch it every second with a hand on the mouse long on consistent moves above the open, or on unlikely spike ups at or near the bell long, which is unlikely, or a fade on confirmed weakness cues or spike downs as a scalp at or near the gun. This kind of thing can lose days of gains in a panic, usually early but sometimes near the end, so be aware and if playing for that kind of short reserving with a box/drop might work. Thinly traded, so exiting fast may be hard. Pinkie.
TNK
I like this long above 5.32/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. No A/H quote. An early red to green long is still possible. Modest buy volume Friday, a decent sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 5 might do the trick. 5.22+ conservatively.
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See my previous comments. This is still bottoming out, and while it did not rise Friday, it could by Monday or thereabouts. No A/ quote, avoid big gaps, especially up ones.
FALC
Red floater scan return. Idea is to play for more down side on day 2. Ended down about 3% on Friday via a gap down that closed below the open after 7 up days. Stops just above 3.61 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Medium sell volume on Friday which means it may have reasonable chances at best for shorts. Avoid all big gaps, especially large gap downs. No buys.
HUSA
Bullish Engulfing. I like this long over the high (7.35) of Wednesday. Fairly large volume on the rise, which is a tepid sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 7 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
OSG
Over extension setting up here, though it might not be over yet. Possible gap over and fall back under 13 or fail on a test of that from below. That is a short. Or on spiking down at or near the gun as a fade scalp. No longs. Avoid all big gaps but especially gap downs. No A/H quote. Sell only into clear weakness.
XIDE
B/O scan. I like it long back over 3.15 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. Exiting below 3 on fails after trigger entering might be prudent. Early r/g? Clearly, holding 3+ will be the key here.
ONVO
Inching up. Many days of greening, and in play both ways. A tentative watch it every second with a hand on the mouse long on consistent moves above the open, or on unlikely spike ups at or near the bell long, which is unlikely, or a fade on confirmed weakness cues or spike downs as a scalp at or near the gun. This kind of thing can lose days of gains in a panic, usually early but sometimes near the end, so be aware and if playing for that kind of short reserving with a box/drop might work. Thinly traded, so exiting fast may be hard. Pinkie.
TNK
I like this long above 5.32/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. No A/H quote. An early red to green long is still possible. Modest buy volume Friday, a decent sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 5 might do the trick. 5.22+ conservatively.
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Trade review 3-16-12
I got a couple of picks right on Friday...
Hits:
MEMS
An early red to green long emerged to win for buyers. New yearly highs on the cross. This followed a flat open and early weakness. Closed positive by over 5% on Friday.
JRCC
An early trigger win for longs just after the noise candle worked for longs. Closed off of the highs, but still positive by over 3% on Friday.
Misses:
GFIG
Early strength after the noise candle soon fell back under the flat line following a gap up. Recovered into the close, but ended up about 0.5% on Friday and factoring in commissions, a slight loss for eager longs resulted.
PATH
Another early fake out possible, though less likely than on the above stock, when this gap up hit the trigger after the noise candle, though meekly. Soon it spiraled down and below the flat line, where it stayed most of the day. A strong close ensued and it ended up over 0.5% on Friday.
Push:
RVSN
Moving flat and slightly up to refute short entries, this eventually closed unchanged on the day. A no play.
FBN
This fell on the noise candle, going red, only rising seriously to trigger levels in the last few minutes, when it was too late to enter. A no play that ended up over 2.5% Friday which looks like a win but is actually a push.
MUI
This continued to dump, out of the open, and longs had not play to bounce on it. It never recovered after solidly reddening early, closing south by over 1% on Friday.
Totals:
Daily record: W-2-L-2-P-3
50%
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Hits:
MEMS
An early red to green long emerged to win for buyers. New yearly highs on the cross. This followed a flat open and early weakness. Closed positive by over 5% on Friday.
JRCC
An early trigger win for longs just after the noise candle worked for longs. Closed off of the highs, but still positive by over 3% on Friday.
Misses:
GFIG
Early strength after the noise candle soon fell back under the flat line following a gap up. Recovered into the close, but ended up about 0.5% on Friday and factoring in commissions, a slight loss for eager longs resulted.
PATH
Another early fake out possible, though less likely than on the above stock, when this gap up hit the trigger after the noise candle, though meekly. Soon it spiraled down and below the flat line, where it stayed most of the day. A strong close ensued and it ended up over 0.5% on Friday.
Push:
RVSN
Moving flat and slightly up to refute short entries, this eventually closed unchanged on the day. A no play.
FBN
This fell on the noise candle, going red, only rising seriously to trigger levels in the last few minutes, when it was too late to enter. A no play that ended up over 2.5% Friday which looks like a win but is actually a push.
MUI
This continued to dump, out of the open, and longs had not play to bounce on it. It never recovered after solidly reddening early, closing south by over 1% on Friday.
Totals:
Daily record: W-2-L-2-P-3
50%
New users: Read my trading guide for my play set-ups!
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Watchers for the 3-16-12 trading session
MEMS
New 52's. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs (over 4.95) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Thursday, a poor sign for new buys. Needs to keep above the Thursday close or at least over 4.50 on pull backs to remain viable as a long, aside from any early noise. Nice move above 4/holds. Needs to take 5+/holds for longs.
RVSN
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up about 4.5% on Thursday via a gap up that closed below the open after 3 up days. Stops just above 11.75 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Big buy volume on Thursday which means it may have reasonable chances for shorts. Avoid all big gaps, especially large gap downs. No buys.
JRCC
B/O scan. I like it long back over 5.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. Exiting below 5.75 on fails after trigger entering might be prudent. Early r/g? Clearly, holding 6+ will be the key to success.
GFIG
Bullish Engulfing. I like this long over the high (3.99) of Wednesday. Low volume on the rise, which is a decent sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably not too far away to use for risk management via stops. Ideally stays above 3.90 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
PATH
I like this long above 4.90/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. No A/H quote. An early red to green long is still possible. Big buy volume Thursday, a poor sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 4.50 might do the trick. Low floater, so squeezing is very possible if shorties are too eager/stubborn. Keep flat on weak price action. 5+/holds is obviously key.
FBN
Another continuation play, see the above stock for general tips on entry/exit/ trade management. Long above 1.92/holds. Not so low float, so it differs in that regard from PATH. No A/H quote. Stops under 1.75ish.
MUI
A bottom fishing bounce play, which may not be done diving yet. It has some past support right at around 15. As such, a halt and perk up off there, or a slight breach and a return back over/holds/perks could yield a long. Or a long on spiking up at or near the bell as a scalp. Or long on consistent pricing above the open after 5 minutes. No shorts. Keep flat on real extended weak price action. Stops just under 15. Avoid all big gaps.
New users: Read my trading guide for my play set-ups!
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New 52's. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs (over 4.95) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Thursday, a poor sign for new buys. Needs to keep above the Thursday close or at least over 4.50 on pull backs to remain viable as a long, aside from any early noise. Nice move above 4/holds. Needs to take 5+/holds for longs.
RVSN
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up about 4.5% on Thursday via a gap up that closed below the open after 3 up days. Stops just above 11.75 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Big buy volume on Thursday which means it may have reasonable chances for shorts. Avoid all big gaps, especially large gap downs. No buys.
JRCC
B/O scan. I like it long back over 5.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. Exiting below 5.75 on fails after trigger entering might be prudent. Early r/g? Clearly, holding 6+ will be the key to success.
GFIG
Bullish Engulfing. I like this long over the high (3.99) of Wednesday. Low volume on the rise, which is a decent sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably not too far away to use for risk management via stops. Ideally stays above 3.90 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
PATH
I like this long above 4.90/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. No A/H quote. An early red to green long is still possible. Big buy volume Thursday, a poor sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 4.50 might do the trick. Low floater, so squeezing is very possible if shorties are too eager/stubborn. Keep flat on weak price action. 5+/holds is obviously key.
FBN
Another continuation play, see the above stock for general tips on entry/exit/ trade management. Long above 1.92/holds. Not so low float, so it differs in that regard from PATH. No A/H quote. Stops under 1.75ish.
MUI
A bottom fishing bounce play, which may not be done diving yet. It has some past support right at around 15. As such, a halt and perk up off there, or a slight breach and a return back over/holds/perks could yield a long. Or a long on spiking up at or near the bell as a scalp. Or long on consistent pricing above the open after 5 minutes. No shorts. Keep flat on real extended weak price action. Stops just under 15. Avoid all big gaps.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
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The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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