Tuesday, November 22, 2011

Watchers for the 11-23-11 trading session


New 52's. Short term, these yearly high stocks usually 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 (over 0.56) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume large today, a poor sign for new buys. Needs to keep above the Tuesday close or at least over 0.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. A Pinkie, be aware.


I like this short under 15.40 which is a daily chart point of interest. Avoid all big gaps and longs. If it opens flat or nominally over the trigger, wait for a test/fail to enter after the noise candle. If it opens under, wait for a test fail to punch back over to enter unless it panic dives for the scalp fade. No A/H quote. Use today's high or the initial 30 minute high of tomorrow for stops, or use a tighter one based on holding the trigger on rebounds.


Again, see my previous comments for little has changed. Sell volume down and seemingly stabilizing. Narrow range prints with consolidation that has to give somewhere and I'm guessing up. No shorts. Avoid big gaps. No A/H quote. Sometimes you have to follow a stock for days before getting the chance to act, patience.


B/O scan. I like it long back over 2.63 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. Modest volume on the rise, a fair sign for new buys. No A/H quote. Potential early r/g long if it opens down or sports initial weakness. Hopefully keeps above 2.50 for longs.


Bullish Engulfing. I like this long over the high of Tuesday. Modest 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. 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 arguably not too far away to use for risk management via stops. Ideally stays over 2.50 (double bottom) on pull backs to remain viable as a long. No big gaps/shorts or A/H quote.


The latest dead cat bounce candidate, this one may not be done yet, so buyers should see spike ups at or near the gun to scalp long first, or moves over the opening price after the noise candle as a precondition. No shorts, though it may easily have 1 or even more additional red sessions left so it might need watching for days. No A/H quote. This is a day trade off bargain hunters only. Sucking Alpha might be right, but oh well.


See my previous comments, little has changed except the buy volume is really diminishing, so a reversal may be closer at hand. No longs. Avoid all big gaps. No A/H quote.

Off record, keep watching GEDU for a profit taking print. Obviously the merger gap move into a new price area is unlikely to fill, but this had several previous up sessions and believe it or not, such plays retreat regardless of fundies/storyline due to human nature. Refer to my previous comments, etc. One danger is boring, sideways consolidation moves for days. I knew this the previous day, but often some correction follows the very next day. Volume is diminishing on the buy side. No longs or any big gaps. No A/H quote.

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