Wednesday, January 26, 2011

Watchers for the 1-27-11 trading session

Not a ton of great plays for tomorrow. Sometimes it is like that. If you cannot find a decent play, keep flat. There are days when the best decision is no entries.


Technically, this reddened. But less than 3% today and almost doji like as a print on less than impressive volume. See my analysis for last time, it mostly still applies in the same way for Thursday. After 2 red days the risk of a bounce is a lot more likely. Do not enter unless it is truly weak. Keep flat on greening/strength.


After swinging to profit, the firm issued a blurb that helped shares soar over 71% today. Currently up 7% more after hours. This will be in play both ways tomorrow. It could sell off at or near the bell for a short entry. Set to gap up, this could crap. Additional confirmation would confirmed weakness cues. A rapid drop is at least good for a scalp fade. Or, it could continue the party at or near the bell spiking up, yielding a long scalp. A live price action situation. The long is more likely to only yield a scalp, sell offs could be longer lasting.


Being pumped, this cracked today 9% and more down side might follow tomorrow. Keep flat on greening action of any kind. A fade on morning panic, or confirmed weakness cues. The former is more likely a scalp, the latter might be held longer. Best in that situation would be a flat or nominally up or down open, then a clear move south. Not exactly great numbers fundamentally here, so shorts have reason for optimism.


Straight up over 100% today on no obvious news with some supposedly real volume being printed. Call me skeptical. I hope to avoid longs altogether here, so I'll be flat on morning up spikes, etc. A fade on morning panic or confirmed weakness cues. The former is more likely a scalp, the latter a longer hold. As usual, big gaps, especially down, are less than ideal. Best is a nominally up, down or flat open, and then selling pressure with conviction.


Re branding and merger related news led to soaring shares that greened by over 254% today. Technically, the trade management options much resemble those for MCBF described above. Not sure if it gaps, up or down. Just keep flat on any extreme gap up or down. A live price action situation, clearly in play both ways.


New 52's. Up over 3 after hours. Short term, these usually go higher. If it can hold 3 or dip below (even falling a bit under today's closing price) on a brief pull back and retake it on volume with acceleration, it is a long. This might be held as some kind of day trade. Also a long scalp on spiking up at or near the bell. Avoid shorts. Keep flat on sustained weak price action.


2 test looms for this stock currently very near an area of resistance from 1.80-1.90 or so from last February and March. Assuming no big gaps either way, on which I would keep flat, we either sell off immediately with 1.90 as the ceiling, which can be faded, or we punch through that and 2 and hold, for the long. Another live price action call, about even money which scenario plays out tomorrow. Steady inching here is a plus for longs. I always like immediate feedback trades, where some level of support or resistance is near to test.

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