Sunday, October 02, 2011

Watchers for the 10-3-11 trading session


See my previous comments. And unchanged finish means this is still in play in much the same way. Another similar play is PIP not yet on my main list. That one seems to be finding some forms of support near 1.75ish.


Parabolic Sar scan. Here, the level to watch is 7. Wait for a test of that. If it holds and perks up off there, more upside is still possible. No A/H quote. Avoid shorts, keep flat on a fall fail at 7. Avoid all big gaps. Long as well on spiking up at or near the bell. Stops just under 6.75 or the initial 30 minute low on Monday. Possible early red to green 7 cross long on a nominally weak open.


Bullish Engulfing. I like this long over the close of Friday which was also the high. Medium volume on the rise, which is a neutral 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 arguably too far away to use for risk control via stops. Must keep above 1.60 to remain viable as a long. Avoid all big gaps or shorts.


B/O scan. I like it long on a continuation play above 4.50 and holds. Needs to stay above 4.40 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 a bit 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.


An over extension play angle on daily chart down trendy stock that has advanced for 7 days running on modest volume. The plan is to aim for a ceiling sell at about 15. Ideally, it keeps going on a flat or nominally up/down debut and fails there or opens just over the key level and fall fails back under/holds to short. Also possible is an immediate/near bell dump as a scalp fade, etc. Avoid any big gaps. No A/H quote. Stops under the previous session close or the initial 30 minute low Monday if an entry arises.


This is in play both ways, with an instructive daily chart. First, as a long on a take an hold of 20.22+ or via spiking up at or near the gun, and a short on a fall fail there with a failed B/O. The ceiling is there at the above level, and depending on how it reacts to a test of it, the fence sitting will be clear. Best is a flat or nominally down debut that punches up through for longs, or a flat or barely up open that dives back below for fades. Avoid all big gaps. No A/H quote. I do not usually play bond/trust equities but this might have some potential. Place the stop either just below the close for Friday, its low, or the initial 30 minute bottom on Monday.


I like this short on a breakdown under 12 and holds as a trigger. A bit low volume but other aspects suggest it might be a fade target Monday or soon. Avoid big gaps and longs. Place a stop just above the trigger or the close or high from Friday. Or use the initial 30 minute high on Monday. No A/H quote. A short scalp on spike downs at or near the gun may be playable as well.

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