Wednesday, September 29, 2010

Watchers for the 9-30-10 trading session

NSPH

This is looking a bit tired, but as its rise has been in more modest sized candles, it might not be done yet. Be patient and stalk this, waiting to fade confirmed weakness cues, or be flat.

CGC

This one last time printed barely green. It might be tiring. It nearly hit new 52's again today, missing by a few cents. Trouble now for bulls is such candidates for longs as it was last time that print a near daily doji and stall short of the magic number often are sold off by skeptics, despite the odds in theory for it to resume its march. In play both ways, with a short on another failed try at 4.89+ and morning panic dumping, or a long on new 52's again, those are held and achieved on volume and acceleration. Showed up as a red floater in my scan.

LRAD

Also in play both ways tomorrow, this one has gapped up for several days, and closed well off the highs today. A near daily doji print, this might bolt out of the gate for a long scalp, then yield a fade entry on clear weakness cues. Up after hours. It is possible we could see a repeat of the same price action as today, which would suggest attempting to top fish fade and ride down slowing momentum on initial big green candles, but I hope we get more typical faltering cues as these are more reliable and easier to time.

FALC

Dead cat bounce possible tomorrow much like it happened today. More likely it comes (if at all) earlier in the session as it is now down almost another 6% after hours. Such plays are usually bargain hunter bouncer longs which are typically scalps, not multiple hour holds, and closed out the same day. I would be careful here, it is in play both ways tomorrow as we are talking a law investigation catalyst. But if it is not the government doing the probe, the odds of a dead cat bounce might go up a tad. Equally possible here is more, initial morning panic like dumping, maybe from or near the gun, which could be shorted into. Live price action will be key.

TAOIF

Sleeper pick possible long on early bullish price action. Stay flat otherwise. New 52's and oil discovery press release might garner some late to the party bulls for a long scalp or a bit more in a day trade, depending on things develop. Best thing is for a nominal gap down and early red to green or flat open to spike upwards.

NPD

Red floater scan return first down day. The hope is for more reddening to follow early on out of a weak willed open. Remain flat if it looks strong early. As these plays often have a second red day to short into, watch it. Since this had fewer up day candles and bigger distribution range today than our last stock below, I would rate the odds of success here as less than for the last stock on our list tonight.

PGI

An even tastier red floater, this one had less downside action and candle range, so more reddening could follow. Remain flat if it looks strong early. As these plays often have a second red day to short into, watch it. As I said above, I like the chances for a successful fade on this better than for the one above.


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

No comments: