Sunday, November 14, 2010

Watchers for the 11-15-10 trading session


A great run, but it needs a correction. Down after hours, more down side might follow tomorrow if nervous longs decide it is over for now. Wait for this to try to fill the gap out of the gate, then short a fail to go green and re-dumping if it commences before lunch time EST. Not very trusting of longs at this point.


Closed on hod. I like this long if it holds a test to fail near the high on 11/8 which was 0.63 cents. If a pull back does not hold and keeps correcting, keep away. Obviously, any take and hold of 0.70+ is a long as well. I suspect we will know early on if this play can realize its potential. Bullish Engulfing to the extreme.


Over extension looming, a firm press release catalyst might explain the moves up recently, but this is a fade play on confirmed weakness cues or massive dumping on volume.


This promotion hod closer is nearing a fade entry on aggressive selling or our usual weakness cues. Might keep going up initially, before diving. Scalping such activity long is possible, but fading it on the dump that awaits is probably more prudent.


Now in 12 Newsletters, a big volume jump printed Friday. Short term a move over 0.60 is likely, which could yield a long entry at least scalp worthy. A fail at or near the above price is a possible short, as well.

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Jim said...

Great to see you back. I wrote a nice review on about you wesite. I am southlaketrader.

Big T said...

Thanks Jim!

I am trying to get back into shape in postings. I am glad my readership seems to have held in my absence...