Tuesday, September 07, 2010

Watchers for the 9-8-10 trading session


Read my comments from last time, they still apply. Having finished unchanged from the gap up and crap hod open, this gets another chance to take and hold 1.41+ on volume with acceleration. 1.47 is the 52 week high. If we can vanquish that and get over 1.50 without profit taking, longs may be in business here.


Look at that chart! A short seller's dream, almost like hitting the lotto for a million bucks. Good luck in finding shares to short. Early shorts got/are being squeezed here. Fade on weakness cues, which, during this recent runup, have yet to surface! Oil and metal miner startup stocks can run longer than is rational, but this about my number one potential short for tomorrow or so...


Still inching. Soon, it will die many percent in minutes, likely. It is just a matter of patient stalking. Once the pumpers turn into dumpers, the bag holding longs still investing will come back to reality. Look for shares, and fade weakness cues with great speed. Or, box it and wait to jettison the long once the fix is in.


Up after hours, the temptation is to argue this is now over extending, and due for correction via profit taking, possibly yielding a fade entry play. Well, remember, usually always short weakness, only. Never strength. If this has faltering cues tomorrow, by all means. But it also could keep moving green a lot longer than is probably rational. At the very least, some early spiking for long scalping might be in the cards here. A live price action play, as it is probably going to gap up, and buying that is tricky and often risky. We will see...


Breaking out of ascending triangle like consolidation, hitting new 52's. Taking and holding 2.40 on volume and acceleration is a long, while a failed test of that is a fade play. Quite often such plays tend to green more.


Trash that will soon come crashing down. Put it on watch and look for shares. Read this: http://www.hotstocked.com/article/2825/aquastar-holdings-inc-pink-rppr-traders-like.html Do you honestly believe this can keep on giving longs free money? Fade weakness cues, stay flat otherwise.


Fast over extending, this I hope to fade on weakness cues.  Almost in ATADF territory, too late for longs.


Up over 352% on purchase order news hype, this will provide a profit taking dump weakness fade cue soon, maybe tomorrow. Stay flat otherwise. Might have an early pop or gap up and crap, but if you are not already in, I would hesitate to try and scalp this long.


See my comments for GPRXF which are nearly as applicable here, except not as extremely. Look for shares.


Nice breakout from low 1.20ish resistance zone. Possible early red to green for a long entry that is just a day trade on momentum, as it is already up so much, but if we open flat or on a reasonably modest gap down, it might pan out. As always, weakness cues if they appear are short bait, but I like this long if the script applies.


Possible short on fading momentum. Short weakness only on the usual cues. Up after hours. I cannot stress enough how most of the best trades as a short are found by stalking and waiting for the distribution print day, made obvious by price action involving weakness cues. Here the volume is still strong, so be patient.

The blog has a terms of service. Be sure to read it at:


No comments: