Thursday, May 26, 2011

Watchers for the 5-27-11 trading session


Once again, see my previous comments, still essentially valid for entry/exit/play management tips. I am still not a believer, and the accumulation volume is slowing down significantly. Consolidating price action is my fear.


With strong volume I like this over 1.15 and holds. Big accumulation day on the 19th of May. 4 low volume distribution prints, then today's move on low volume, so more buys might come in if we get our price trigger. You can place a tight stop under this but a fail under 1 is blatantly kaput. No shorts, keep out on real failure.


Another interesting chart. I like this long over 9.07 and holds. Stop under 9 or at worst 8.90ish. Another low volume move up, hopefully more buyers will come in. No shorts, keep flat on real weak price action.


A double, almost triple chart on the daily year duration. This is at 10 bucks. We are almost there now and over extending a bit. But that is also New 52's if it gets over and sustains. So it's in play both ways depending on how it reacts to the above level. I like it short on a fail at or near 10 and long on new yearly highs and holds. The best outcome is the shorting scenario, arguably, though.


Nice rise on comparatively low volume. Looking for a continuation. I like it long over 1.87 and holds with equal or better volume. Not into a short. If we gap over our level modestly, a test and hold is ideal before entering. Avoid all big gaps.


Big volume B/O off of recent 52 week lows. Up almost 11% A/H as well. A rare potential top fish timing short possible here of early dying momentum green candles from a morning (bell) spike up. Not into longs anymore, so just keep flat as long as it moves skyward. The trouble with such plays is you have to be confident the momentum is decaying, and be willing to set a stop above the early spiking high as a short. It's a live price action interpretation call. Also a short from or near the bell if it just sells off hard/panics.


New 52's. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs and holds. No A/H quote. No shorts, keep flat on true weakness. Great B/O on volume. Settlement news catalyst. If we make it over 3 and hold it could squeeze.

Off record as it's too cheap, NEOM is on short watch after patent affirmation news sent it soaring up over 266.5% today. A similar top fishing call might be needed here as in FTWR above. Or it might dump from or near the gun, making it easier. No longs, keep flat on more greening.

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