Tuesday, November 16, 2010

Watchers for the 11-17-10 trading session

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This may be close to due for a pull back, having printed a daily doji today with high wave stick action. A fade on profit taking on clear weakness cues. Remain flat otherwise, the break out upwards is rather mature anymore. A red floater scan now.


Two day straight hod closer, this is beginning to need monitoring for over extension. Up volume is still increasing, so it may not be done. Hence, caution is advised. Short only on confirmed weakness cues. Stay flat otherwise, as longs are a bit tardy at this point.

VTMS (QualSec)

Also on watch for budding over extension, this cheapie rose over 46.5% today. Volume not earth shattering but as usual only short weakness, not strength, waiting for the distribution print and confirmation cues. Keep flat otherwise, longs are bit "long" in the tooth at this point.

TIII (Tii Network Technologies, Inc.)

Things are still heating up on this. The previous day was outdone today in both volume and price. Closing green by over 9.5% on the day on a news response catalyst, this tested 2 and closed under. The plan is to go long on any successful test of the same that holds and accelerates on volume, or to fade a fail at the same level. A short needs caution and confirmation as the price and volume action has yet to signal a weakening.


This is showing some signs of imminent distribution printing, with declining upside volume and high wave stick action. The plan is to fade into clear weakness cues, or be flat. Sadly, charts like this can inch up for a lot longer than many figure, but this one is ripening, surely.


Bullish Engulfing. A scan on this found an opportunity to enter long on a confirmation of the pattern, helped out by some upward mobility over months and recent multiple red days prior to the candle today. Go long just above 14.35 with a stop just below 14.11 to play this. Avoid the first 5 minutes of trading, and shorting. Recent support in the high 13.80's. Not a penny stock, trades on the NYSE so keep that in mind if playing a swing.


Thinly traded, but working on over extension, this number had a recent daily doji print following up moves but kept on moving north, greening today. It might be maturing, so this is a fade entry on confirmed weakness cues. Remain flat otherwise, it is getting late in the day for safe longs.

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