Thursday, September 29, 2011

Watchers for 9-30-11 trading session

ALTI

See my previous comments, mostly unchanged when it closed on the trigger for longs. If it can hold over that it is still in play for them. Nearly identical volume this time, so it's Deja Vu.


MWA

Again see my comments for last time, mostly still in force. This gap up closed positive but lower than the open right on the trigger, so it might have more (and this time playable) upside for longs. Bigger volume not a plus.


USAT

A bottom fishing play, similar to that of TRX today. See my comments on that set up for general tips avoiding specific share price aspects, etc. Notice after seemingly peak sell volume this session it fell even further, albeit on weaker volume. A buy on spiking up at or near the gun as a scalp, or on consistent trading above the open after 5 minutes of action. Place a stop under the low of today or the close if more conservative, if it triggers. Or use the initial 30 minute low tomorrow, especially if if gaps down. Avoid clear and big gap ups, but if it gaps well down, that might increase the wash out chances is some cases and help increase the odds buying.


SPWRA

Bearish Engulfing. I like this short under the close/low of Thursday. Medium volume on the rise, which is a neutral sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. No A/H quote. Stops just above the high last time or the initial 30 minute on on Friday. More conservatively a stop placed above Thursday's close, too. The high on that day is perhaps too far away to use for risk control via stops. Must keep under 10.03 on any pull ups to remain viable as a short. Avoid all big gaps/longs.


POWR

Red floater scan return. Idea is to play for more, real down side on day 2. Closed below the open up almost 3% on Thursday via a gapper. 5 of 6 previous days up until last time. Stop above today's session high (5.29) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Strongish level buy volume Thursday which is decent for fades.


GNW

B/O scan. I like it long on a continuation play above 6-6.32 and holds. Needs to stay above 5.80 on pull backs to remain viable for longs. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. No A/H quote.


HRZ

Bullish Engulfing. I like this long over the close of Thursday which was also the high. Low volume on the rise, which is 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably too far away to use for risk control via stops. Must keep above 0.40 to remain viable as a long. Avoid all big gaps or shorts.


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