Monday, July 12, 2010

Watchers for the 7-13-10 trading session

GRNO

Supernovae scan return. A hod closer with great range but equal volume to the previous session, this may run out of gas soon, allowing a fade play. The trick consists of shorting into the collapse, which is hard to time perfectly on such plays in many cases. For one thing, these things can run longer than is rational. Good luck...

NUSMF

Budding over extension play may not be done yet, but is getting more ripe. Watch for possible gap and crap and green to red to fade, do not try to predict the top. Or, fade into a modest gap down that keeps on dropping early. The volume has not faded enough to be confident that Tuesday will provide a reliable
fading signal, in my humble opinion.

DEAR

3 white soldiers, but with average volume. Watch this one at 3ish for entry cue clues. Some resistance below that was taken out, but now another level exits to test. If it takes and holds 3 on volume and acceleration, a long is possible. If it falters there, a short. Place stop above the previous session high, here 3.05 to manage it.

IDT

I am short biased here to a degree, but it has admittedly been puzzling for fader traders to manage this stock. Both volume and daily stick range are contracting, so hopefully we get a play to short into tomorrow. Do not stand in front of a squeeze here, wait for clear weakness on a fade try, like green to red, etc.


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