Sunday, September 25, 2011

Watchers for the 9-26-11 trading session


We finally saw a bit of a crack here. Might be a one day event, but now I like this short on a fall fail back under 16 and holds. Stops just over the high on Friday, or less committal but more noisily above the close Friday. A flat or nominally up/down open that tests the above level and fails is ideal to short, after 5 minutes. Keep flat on more greening and avoid all big gaps. Lots of hands might be in here so be skeptical, Bears!


See my many previous comments, mostly still in effect. The danger is in this thing just consolidating. Nominal up close Friday. It's a short on confirmed weakness cues or panic dumps/drops under 6.50 and holds. No longs or big gaps. Stops above the high on Friday or less riskily over the close of that day. Or, use the initial 30 minute high Monday, especially if it gaps down within reason, etc. A tough stock on shorts, be careful.


Bullish Engulfing. I like this long over the close or high of Friday. Moderate volume on the rise, which is a fair 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 probably too far away to use for risk control via stops. Must keep above 3.50 on any pull back to remain viable as a long. Avoid all big gaps or shorts.


B/O scan. I like it long on a continuation play above the close or high of Friday or above 2.60. Needs to stay above 2.40 on pull backs to remain viable for longs. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday 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 volume on the rise, a fair sign for new buys. No A/H quote.


Low floater that could see more upside on a rip through 1.50+ and holds. Shorts be aware of what such a stock can do to early fades, it ain't always pretty. Long also on spiking up at or near the gun as a scalp. Avoid shorts and all big gaps. Set tight stops after entry just under the close Friday or the initial 30 minute low Monday, etc. It's already up quite a bit and volume is rather thin. An early red to green is possible to buy, too.


Another interesting potential long. Long only a a B/O above 2.50 and holds with formidable volume. Low volume rise Friday a good sign for new buys. Avoid all big gaps/shorts. Place stops just under the previous close. or the initial 30 minute low of Monday. Exit on a 2.40 fail and holds. If it gaps just over the above trigger, let it test and maintain over before entering. Long also on spiking up at or near the gun as a scalp.


Ok, I'll bite. Perhaps this is just the tip of the iceberg with more red to come, but I'm a buyer on spiking up at or near the bell as a scalp. Or on early weakness with a red to green move and holds.  Very oversold, and hopefully it's bottoming out very short term enough to yield a fishing expedition buy on a bargain hunting bounce. Only buy on clear reversal signs, keep flat on more real weakness. A big gap down here is not such a bad thing as it may help flush out more hands, speeding up the bouncing possibility. Avoid big gaps up. The immediate term bottom may already be in as of Friday, but that was too hard to nail. This is very risky play!

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: