Sunday, August 14, 2011

Watchers for the 8-15-11 trading session


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 (0.085) and holds. Avoid shorts, keep flat on true weakness. Nice move to make a new annual top price on solid volume, which is one caveat for more longs. Needs to keep above the Friday close or at minimum 0.075 on pull backs to remain viable as a long, aside from any early noise. A gold cheapie Pinkie.


Bullish Engulfing. I like this long over the close of Friday and also the high. Big volume on the rise, which is not a good sign for new 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is just too far away to use for risk management via stops. Must keep above 6.00 to remain viable as a long. No big gaps or shorts.


A bottom fishing play. Some support at 4. Sell volume declining significantly. Let it test support first, if it holds and perks up off, then buy in, with a stop just under 4. Long over the close or high on Friday or on spike ups at or near the gun as a scalp. Avoid all big gaps and shorts, keeping flat on fall fails under the above floor.


I like this long on a continuation play above 2.35 and north of 2.50 into the daily chart gap. If it charges back into the void, place the stop under the close on Friday or the initial 30 minute low Monday. Avoid all big gaps and shorts, keeping flat on clearly weak price action. Do not use Friday's low as a stop, it's too far away.


One of those curious movers up that might continue to rise then be dumped in a hail of gunfire. If longing I'd be cautious and small positioned size on more strong price action Monday. Any real trouble is a sell. I would prefer to wait for the dump, to fade into. Share reserves might be difficult to impossible to box and drop, sadly. Huge, increasing volume which means waiting to short might be even more tempting if it really weakens. Patience a plus, as it might not be done yet. Ideally this keeps above 0.60 consistently if long, but since I am waiting for the drop, that does not interest me.


B/O scan. I like it long on a continuation play over the close/high of today. Needs to stay above 5.00 on pull backs to remain viable for longs. Stops just under the close today or the 1st 30 minute low of tomorrow. Avoid all shorts and all big gaps. The low of today is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest buy volume today, a decent sign for new longs. Let it test and hold 5/perk up off there a bit first before entering. No A/H quote.


Here's another potential B/O continuation over 5 and holds. Big volume today not necessarily helpful. Place a stop just under there or below Friday's low or Monday's initial 30 minute low. It might be a red to green entry but it must test/hold and perk up off there to enter. No A/H quote. Avoid all big gaps and shorts.

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