Sunday, August 01, 2010

Watchers for the 8-2-10 trading session

FVE

Big up day had a daily doji print on Friday. Neither day had huge volume. Some resistance near 3.80 so I am looking to fade this with a stop not far above that as a bail out point.

AKVA

A hod closer with unusual high volume on Friday. If you did not enter near the close playing for the gap up and profits, more greening might ensue early on Monday. Careful here, no obvious catalyst is evident.

AHD

Over extension with declining volume, ripening for eventual fade entry. Do not jump the gun, if it begins to weaken early it might pan out, but wait for the selling to kick in. My not be done just yet, be patient.

ARNA

Still in play mostly long. Brick wall at psychological resistance level of 8, needs to test and defeat this on volume with acceleration to really buy this puppy. Short any test and fail of the same level, as it is also over extending. A stock like this can go on a bit longer than is rational. Down in after hours, it will be interesting to see if the gap can be filled with another test of 8 involved.

AZC

Working on over extension, volume is still present so it might not pop on Monday. I have begun watching it, though, for a fade entry once the sellers pile in. Ideally, this happens early, if not on Monday, then soon.

Unofficially, keep watching TRW which is seriously multiple topping. If it cannot break though 35.30-50 convincingly, it might yield a fade entry. Again, it would be a swing play several day hold, not a day trade.


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