Sunday, July 11, 2010

Watchers for the 7-12-10 trading session

No recap for Friday as I did not post selections due to connectivity issues, as explained in my last post...

ZAAP

Volume is beginning to dry up on this over extension, which I look to fade on dying momentum. Look for the usual cues, like an early green to red, etc. to short into.

LSCC

Some resistance around 5.30ish so it will either break out above on volume with acceleration for a long entry or a failure there can be shorted. I prefer the latter scenario, intrinsically (as usual) and in light of its decent but not stellar volume in rising nicely on Friday. An early tumble from the aforementioned level would be ideal.

SNBP

Some resistance around 0.27 and more at 0.28 make this either a break out play long above that on volume and acceleration or a short entry on a fail at those levels. A hod closer, the volume was just sufficient, not stellar, so it may be more inclined to lose steam at the above levels.

SOLF

3 White Soldiers over extended play that I hope fails near 9ish for a fade entry. Any squeeze above 9.29 and certainly above 9.39 should be covered. Volume has been just okay on the rise so this may be an easy mark.


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