Tuesday, October 04, 2011

Watchers for the 10-5-11 trading session


See my previous comments. Now sporting a hammer on the bottom of a move possibly, if it can get back over 3.50 and holds, an entry long might arise. Maybe I was just one day too early! Any spiking up = buy.


See my previous comments, though I am no longer saying go long. Volume is drying up a bit, and it does not seem to be seriously challenging 4. Potential short on spiking down at or near the gun as a scalp, or on steady decay from early on under the opening price level after the noise candle/confirmed weakness cues. No A/H quote change. Reversal soon seems likely, but be sure it is actually weakening first.


New 52's. Short term, these yearly high stocks often 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 (6.43) and holds. Avoid shorts, keep flat on true weakness. Price correction on daily chart. Volume on the move up big, which is a weak sign for new longs. Needs to keep above the Tuesday close or at minimum over 6.00 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


B/O scan. I like it long on a continuation play above 7.50 and holds. Needs to stay above 7.00 on pull backs to remain viable for longs. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a neutral at worst sign for new buys. No A/H quote.


Another bottom fishing play with a conditional entry. A hammer at the bottom of a move like our 1st stock in tonight's list, go long above the high of Tuesday and holds. Or on spiking up at or near the bell as a scalp. If it triggers, place a stop just under the open of Tuesday, the low is too far away. No shorts, or big gaps, etc. DRYS is another one not on my official list with similar approaches, if it gets over 2 and holds it could work.


Bullish Engulfing. I like this long over the close of Tuesday or the high. Medium strong volume on the rise, which is a tepid sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Up a tad A/H. Stops just under the low last time or the initial 30 minute one on Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is too far away to use for risk control via stops. Must keep above 6.00 to remain viable as a long. Avoid all big gaps or shorts. Rebounding off of 52 week lows today, another interesting detail.


Also sporting Bullish Engulfing but with a twist. A huge gap fill to 8 which held means if it perks up off there it might be longed. Or on spiking up at or near the gun as a momentum scalp. Avoid all big gaps. Flat or nominally up or down as an open that successfully tests/holds 8 is a buy. Additionally in play as a short on a fall fail of 8 back into the gap and holds. Or on spike downs at or near the bell as a scalp fade, etc.

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