Monday, August 20, 2018

Watchers for the 8-21-18 trading session

ALRN

B/O scan. I like it long back over 2.69 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Decent volume on the rise, a pedestrian sign for new buys. Exiting below 2.60 on fails after trigger entry is possibly advisable. Early r/g buy?


CMCM

Long over 11.33 short under 11. Set a tight stop near 11.21 either direction.


GTIM

New 52's. Short term, these yearly high stocks often 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 4.77) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4.50. Needs to keep above the Monday close, or at least above 4.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.68 are ideal for aggressive entry.


UMRX

Bullish Engulfing. I like this long over 14.45/holds. Decent volume on the rise, which is a weak 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is a bit too far away to use for stops. Ideally stays above 14 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


GPRE

Parabolic Sar scan. I like it long over 18.02 and holds. Decent volume on the rise Monday, a weak sign for new longs. Place a stop under the close Monday or the 1st 30 minute low Tuesday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.


NHS

3 White Soldiers. Long over 10.94/holds. Stop under 10.86. No shorts.


GNBC

Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 24.30/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 24.25 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which could mean overt buy interest is still developing, suggesting reversal upwards may be delayed.


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No picks today, lots of issues last night, selections for tomorrow likely...

Trade review 8-17-18

I got some of them right on Friday...

Hits:

RVLT

Early upside reversed to end down almost 7% Friday, but the opening stick high was not surpassed when it did, so shorts under trigger won on the fall since longs had no valid entry.

ETE

A steady move up ended up almost 4% Friday.

LYTS

A steady move up ended up over 4% Friday, winning long despite leveling off late in the session.

Misses:

TMQ

An early trigger fake out reversed to end down over 2% Friday.

WEN

A late trigger long reversed just enough Friday to end up over 0.50% but lost for buyers given the end price.

Push:

LLEX

Early upside reversed to end down almost 2.5% Friday.

XRF

A steady drop advanced late but ended up under 3% Friday

Totals:
Daily record: W-3-L-2-P-2
60%

New users: Read my trading guide for my play set-ups!

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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:


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