Wednesday, December 15, 2010

Watchers for the 12-16-10 trading session


More volume still, and the by now ubiquitous higher close. Seems on track to eventually test 2, but while it still is a long on early greening with slow inching, be careful. Seems manipulated, not sure if it is. If so, a huge correction looms with an awesome short in the offing. A fade on massive sell dumping and the usual confirmed weakness cues.


Still needs some upside spiking to short into, the paltry move today not being sufficient, but on watch. Fade on heavy sell pressure panics or standard confirmed weakness cues.


New 52's. Taking 8 on stronger volume, this might surge higher, or yield a pull back long entry for a swing if it holds the above price as a floor. Deep correction in the process. A fall below 8 is a possible short, but less tasty here.


Nice break out. Down after hours, this might yield a red to green long on a 6 test. 5.50 was the key level, if it pulls back and holds on a test from above, another long entry might be possible. As we have fallen below 6, if we test it and fail there I am flat, not short on any play here. New 52's by the way, which usually keep going.


Another dandy. More 52's. Possible early red to green long. 7 was vanquished and now we are trying to take and hold 8 on volume. Could also open flat and advance, which might be bought. Avoid longs if it gaps big either direction, avoid shorts.


This has held up nicely in consolidation since the big moves recently. Today's red session was on much lighter volume. It could fail, but I am seeking a break out continuation if it spikes at the open or near the bell. Or on a red/flat to green if the gap is not too big. Might have more do nothing days before a big move either way, so be patient as needed. Less interested in any shorting, even if we see any of our usual cues, I am flat on those.


Long on a take and hold test of 8 which is now in the cross hairs. Possible swing play here. Closed on hod. If it gaps up to open (or over 8) I would wait to enter until 8 is established as a floor. Ideally this opens flat of slightly down and a successful test yields the entry. Boring, and could take several days to get any real return. New 52's but look at the daily chart, it is just one long climb up the mountain.

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