Sunday, January 02, 2011

Watchers for the 1-3-11 trading session

RPRX

Closing near the lod, this is an easy list selection. Some support near 3, so a break below on volume is a fade entry. If it retakes that or at worst overtakes the previous session hod, it is a cover. The hope is for a short, but if it opens flat, nominally green or slightly down and goes green solidly early, holding 3, it can be longed.


URZ

Essentially a triple top in the past few months, this presents good feedback for a trader. The top is 4, and we closed a cent below. Trouble for longs is each time it got over, it fell back under and did not continue to break out. We are looking for a break out above 4 or an early red to green above the same on volume for a long day trade, with a possible swing depending on how it holds up. More historically favorable is a fail at 4 and a short. The best way for that to arise is to get over 4, and fall back under to enter. Or, an immediate fail at the number. Large gaps either way will ruin this play tomorrow. We need it to be nominal up or down or flat.


TROV

Not certain what is up on this junk, but it made my Supernovae scan return. If it looks strong early, or greens, leave it alone. Only a fade on massive sell dumps or early panic. Or, on standard confirmed weakness cues. Rose over 136% with volume on Friday on no obvious news. Clearly the only potential trade is negative. Obviously a fall below 0.50 will spell good news for the shorts.


TMSH

Reverse merger play up from almost nothing to over 0.60 cents in a week or so of action. Tricky to manage, but short worthy on massive sell dumps or typical weakness cues. Obviously the greening could continue, but it is a bit late in the day for me to consider. I am flat on such behavior. Like most set ups, the easiest approach will involve a flat or nominally green or red open, then moves to the negative. Large gaps are not a good thing.


CHGS

Daily doji print sort of spoiled things for this recent Supernovae scan return, but still in play. See my analysis for last time, it mostly still applies. A decent short should materialize soon here. Buy side volume is decreasing. This might gap, and then require a top fish fade entry, but that is always problematic in praxis. Short biased.


HSTM

On volume break out I am watching at open to see how it handles 8. If we gap up or down significantly, it will spoil any entry and I will be flat. If we open a bit under, an early red to green and holds is a long, and if it holds up, an EOD exit. A fail at 8 is a short on a broken chart pattern if opening above it. So, as usual, a flat open or a modestly green or red one will provide a potential play on the test of 8. A live price action situation.


IWSY

1.00 test coming up for this POS. Deep correction in which we return to a level many months ago. The stock failed to take a buck then. It failed Friday. I expect it to fail and decay Monday, so that would be a fade entry. If it takes and holds a buck on volume, it is a long, but I trust that a lot less. Volume last time was decent but not earth shattering, so that is another good sign for shorts. Historical and psychological level near immediate feedback trades are always worth serious consideration, as is the case here.


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2 comments:

StocksOn.Blogspot said...

i haven't seen this site in a longgggg timeeee.... looks like another investorslive.com. nice watchlists, nice charts... i like it alot.

@onstocks
johnc

Would love to get back into trading but it appears almost impossible at the current time.

Big T said...

John, thanx for the comment. Long time no see. Good to hear from U!

I do my own research and analysis, but am usually more short biased than someone like IL. I sometimes will pick "real" stocks and even ETFs in addition to promotions. I am very much a chart guy overall, plays like RPRX today are good examples...