ALIM
Again, see my comments for the past several sessions, mostly the same ideas apply. Still waiting for a bounce session. Volume on the sell side keeps diminishing, if you can believe it! No shorts, strictly a day trade stalk.
INHX
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 12.08) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Wednesday, a fair sign for new buys. Needs to keep above the Wednesday close or at least over 11.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
ASIA
I like this short below 7.60 with a break of recent daily chart support. No longs, avoid all big gaps. Also a fade scalp on panic dumps at any time or consistent trades under the open/confirmed weakness cues after the noise candle. Stops just above high on Wednesday or that day's close. Or use the 1st 30 minute low Friday. Low sell volume on the last session is a good sign for new shorts.
XUE
B/O scan. I like it long back over 3.67 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Wednesday 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. Another possible entry is early weakness r/g with a retest and hold of 3.50 on a pull back with a perk off.
OPTR
Bullish Engulfing. I like this long over the high of Wednesday. 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 Friday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 10 on pull backs to remain viable as a long. Avoid big gaps or shorts. No A/H quote.
GRPN
Once considered to be a potentially promising IPO this is beginning to look a bit overdone. Another rebound bouncer candidate, you are trying to catch a falling knife so be aware. Long on spike ups (scalp) at or near the gun. Or on consistent trades over the open after the noise candle as a day trade long. No shorts, keep flat on further weakness or dumps. You might have to wait a while for the washout, the volume on the dropping has been rather low. Understand that as a trader, much of your job is patient stalking.
CZZ
I like this short below 10.85 and holds. No longs, avoid all big gaps. Also a fade scalp on panic dumps at any time or consistent trades under the open/confirmed weakness cues after the noise candle. Stops just above high on Wednesday or more conservatively, that day's close. Or use the 1st 30 minute low on Friday. Low volume on the sell side last time is a good sign for future fades.
New users: Read my trading guide for my play set-ups!
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The blog has a terms of service. Be sure to read it at:
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Again, see my comments for the past several sessions, mostly the same ideas apply. Still waiting for a bounce session. Volume on the sell side keeps diminishing, if you can believe it! No shorts, strictly a day trade stalk.
INHX
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 12.08) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Wednesday, a fair sign for new buys. Needs to keep above the Wednesday close or at least over 11.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
ASIA
I like this short below 7.60 with a break of recent daily chart support. No longs, avoid all big gaps. Also a fade scalp on panic dumps at any time or consistent trades under the open/confirmed weakness cues after the noise candle. Stops just above high on Wednesday or that day's close. Or use the 1st 30 minute low Friday. Low sell volume on the last session is a good sign for new shorts.
XUE
B/O scan. I like it long back over 3.67 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Wednesday 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. Another possible entry is early weakness r/g with a retest and hold of 3.50 on a pull back with a perk off.
OPTR
Bullish Engulfing. I like this long over the high of Wednesday. 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 Friday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 10 on pull backs to remain viable as a long. Avoid big gaps or shorts. No A/H quote.
GRPN
Once considered to be a potentially promising IPO this is beginning to look a bit overdone. Another rebound bouncer candidate, you are trying to catch a falling knife so be aware. Long on spike ups (scalp) at or near the gun. Or on consistent trades over the open after the noise candle as a day trade long. No shorts, keep flat on further weakness or dumps. You might have to wait a while for the washout, the volume on the dropping has been rather low. Understand that as a trader, much of your job is patient stalking.
CZZ
I like this short below 10.85 and holds. No longs, avoid all big gaps. Also a fade scalp on panic dumps at any time or consistent trades under the open/confirmed weakness cues after the noise candle. Stops just above high on Wednesday or more conservatively, that day's close. Or use the 1st 30 minute low on Friday. Low volume on the sell side last time is a good sign for future fades.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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