Tuesday, November 15, 2011

Watchers for the 11-16-11 trading session


See my previous comments. Still applicable. Sell volume even smaller now, so a bounce seems imminent. Almost a doji print on the daily. Long on spike ups as a scalp or on early red to green/bullish price action. Avoid all really big gaps. No A/H quote. Nice play setting up if you can time it.


Bullish Engulfing. I like this long over the high of Tuesday. 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. 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 management via stops. Ideally stays above 6.50 on pull backs to remain viable as a long. No big gaps or shorts. No A/H quote change. Support at 5.70ish.


Also Bullish Engulfing. I usually only do one of these, but this one has great close feedback for stop placement. It's otherwise similar to the above play, so see my comments on that for general tips. Low volume on the rise, another good sign. Support at 1 is clear on the daily chart, so exits just under are feasible. Long over the high of today's session after the noise candle. Always seek nearby feedback set-ups if possible.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed up on Tuesday over 21% but below the open via a gapper. Stop above the previous day session high (3.22) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday 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. Huge buy volume on Tuesday which means it may have decent chances for shorts. Another 3 test and fail would be ideal if the entry is top fished. Or it can be faded on panic dumps, etc.


B/O scan. I like it long back over 6 and holds. Ideal to stay over that on tests aside from early noise if it triggers. 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. Medium volume on the rise, a neutral sign for new buys. Resistance at 6 is clear on the daily chart, so some could fade on a fail there, but I'm only a long if it sets up. No A/H quote. 1/2 position possible for above 6/holds and the remainder over 6.33. More upside possible over 6.50ish.


This is rapidly getting overdone, and is short biased by now. Up over 3.5% A/H too. I suspect a ceiling near 1.50 awaits, which can be top fish faded bravely using a tight stop just over. Only enter on a test fail or early panic dumps as a scalp short, or on steadily selling under the opening price level after the noise candle. Avoid longs and all big gaps. It might spike up early/at bell to permit the top timing short without a lot of waiting.


Nice daily chart and momentum here. A B/O from ascending triangle like consolidation over the past 2 weeks. Possible longs include early weakness with a red to green entry, or on spiking up at or near the gun to scalp or just on trading over the opening price after the noise candle, etc. No shorts. Avoid all big gaps. Up almost 6.5% A/H so unless it spikes up as outlined let it fill the gap, perk off and overtake the open to enter.

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