Tuesday, December 21, 2010

Watchers for the 12-22-10 trading session


See my comments from the previous few sessions, they mostly still apply. Boring consolidation does not mean trades are all over on this thing. Patience will be required to jump in when the move comes either direction.


See my previous session comments, they mostly still apply. However, now everyone and his brother is starting to catch on the promotional aura here, so be careful if longing, keep sentry live, and a finger on the sell button. It will make a great short on a dump if (especially early) it panics down or on any standard confirmed weakness cue. In cases like these, a plug pull usually happens, so the signal is usually heavy volume dumping.


Another day of strong volume upside in this BioMed Reports pumper, which means a fade entry is not too far behind. Still might not be done, but any heavy volume panic or any of our typical weakness cues are potential shorts. A long is risky at this point, but whatever floats your boat. At this point, I would keep flat on greening and wait for the drop day to jump in as a Bear.


Big move over 70% due to news. Down after hours under 4, it should test that with even more idiots arriving at or near the bell for a long scalp. This will produce a red to green move that is can be held as a long if it stays above 4. Since I am a pessimist by nature with regard to the stock market, I want to short a fail at 4ish and a fall below, if we get that instead, a lot more than I want to scalp this long. If we go significantly above 4 and then begin to peter out, trying to top fish that to enter is not my cup of tea. Ideally, we either dump at or near the bell either just a bit over 4 or from the flat line, to enter. If everyone is already "in" it would sure help.


New 52's. Nice break out on good volume. Took and held 6 and 6.15ish area of resistance. Possible 7 test looms. Not into a short if it weakens or dumps at or near the bell. Any possible pull back entry needs to hold 6.50ish. Currently up a tad after hours, if we end up opening a bit down tomorrow an early red to green might be a buy if it keeps positive. Early strength is also a buy, hopefully another day of greening is in the cards.


Another nice breakout that powered above some resistance in the 4.20s making new 52's. Closed at 4.17 so if we can retake that former ceiling and keep greening, this can be a potential long. If we open down a bit, a speedy red to green might provide the entry signal. If we can vanquish the previous session high and hold, that might lead to another day of greening. A fail to retake the 4.20s might yield a fade, but that is less interesting.


News catalyst sent this soaring 27.5% over 3 today. Up another 6.5%+ after hours, I am looking to short into early profit taking dumps, which might require a top fishing fade if it keeps spiking on the open instead. Ideally, it just drops soon after the open, so we also do not have so far to go to actually go red. The idea here is plenty of bag holders might want to sell off, given the April gap drop. Some resistance near 3.87-4.15 exists, so it may not be a hard choice for them to use the good news as an excuse. Not into a long anymore.

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quickturtle said...

Great review...thanks

Big T said...

Glad you enjoyed it!

Big T