Sunday, December 19, 2010

Watchers for the 12-20-10 trading session


Ok, in theory 2 has been taken and eventually it held. We closed on the hod no less, which was 2. Volume has been intensifying every day in this HHWW type move, but it is getting ever more late in the day to risk a long. At this point, we are just boxing to drop or hoping for shares on a crash and burn session. Any fall below 2 might be shorted, though fake outs could get annoying if whipsawed. If it holds 2 and keeps inching up a long is arguable, but risky at best. One would have to watch it like a hawk and scalp or day trade it.


Red floater scan return. This still has strong, rising volume, so it be careful, it might not quite be done. However, Friday's print was a daily doji, with many up sessions. The shadow was mostly on the lower end. Up after hours, the plan is to fade heavy volume selling, or the usual confirmed weakness cues. More likely this will pan out as a top fishing short after early greening, which is less than ideal usually, so factor that in.


Continues to consolidate. Short on a clear break below 1.80 with volume or long bolting above 1.86 with volume. Eventually this will seriously correct to the down side, at any rate.


Up over 37.5% today and more gravy after hours. The hod and after market session ceiling is 1.50 and this a common psychological selling point. It will be interesting to see if this will plunge from the gun or use that level as a launching pad for more gains. Possible fade scalp at least on a fail at 1.50 and a buy on moving over it.


Down a tad after hours, a 2 test looms. A fail there at a natural psychological profit taking point is a fade entry, while taking and holding 2 on volume is a potential long play. Some past resistance is around this level.


A gold stock. News catalyst. Broke out of a ascending triangle area with some volume. Seems to have conquered the 3 level, which hopefully will serve as some support. A long (possibly just a scalp) on early spiking or a pull back entry long if it retreats but holds the critical 3 level and perks up off of that.


European licensing agreement catalyst sent this skyward on Friday. Up after hours to nearly 7. I want to see how this acts at that price. It might dump at or near the gun for a short scalp at least, or it might sail past that and holds for a long scalp at minimum. Closed well off of the highs last time, perhaps an encore awaits.

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