Monday, June 20, 2011

Watchers for the 6-21-11 trading session

GBTR

As this finished unchanged relative to the previous close my comments from last time remain in effect. See those, which also reference the one before, too. The danger is ugly congestion like consolidation and volume drying up. I am hoping to squeeze more down side gravy out of it, assuming it weakens in a quantifiable way.


NYNY

New Supernovae scan return. A 5 day move mostly up which closed off of the highs and above the open. Volume increasing most days and big. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Tuesday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. Up A/H a tad.


NWL

I like this long over 15.25 into the gap on its daily chart with strong volume. It needs to hold over 15 on a test to remain/be viable as a long. Possible early red to green long entry if it opens weak. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness or a fall fail at 15 if tested. Avoid all big gaps, as usual. No A/H quote.


ID

Here is an interesting chart. A strong day with medium volume erases a V shape correction that closed right on the fall point area. I like it long over 11.81 and holds. It needs to keep above 11.75 or so to stay worthy of a long if it pulls back. Also a long on spiking up at or near the gun as a scalp. Possible early red to green long entry if it opens weak. I'm flat on real weakness, etc.


GTXI

Bullish Engulfing. I like this long over the close of Monday or better yet the high. Low volume on the rise, which is a good sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote. Stops just under the low last time or the initial 30 minute one on Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is rather far away to use for risk management via stops so I would prefer the conservative approach or the one tomorrow. Several down sessions from an uptrend in the daily chart before today's move up, indicating possible reversal. New 6 test/cross possible, too.


CT

Bullish Engulfing. I like this long over the close of Monday or better yet the high. Low volume on the rise, which is a good sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote. Stops just under the low last time or the initial 30 minute one on Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is rather far away to use for risk management via stops so I would prefer the conservative approach or the one tomorrow. Several down sessions from an uptrend in the daily chart before today's move up, indicating possible reversal. Needs to stay above 3.50ish.


CHTP

I like this long over 5.37 again and holds on strong volume. See daily chart for April 19th. Possible early red to green long entry if it opens weak. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness. Avoid all big gaps, as usual. Down 1.5% A/H so the weak open reversal may be in the cards. Clearly this has to stay above 5 for longs, so stops cannot be any much lower.


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