Saturday, November 26, 2011

Watchers for the 11-28-11 trading session


See my previous comments, mostly still applicable. Almost a daily doji print, down less than 1.5% on small sell volume and shaping up for a bounce to day trade or at least scalp into, possibly as early as Monday.


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 2.95) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Friday, a neutral sign for new buys. Needs to keep above the Friday close or at least over 2.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


As usual, see my previous comments. A paltry 1.5%+ bounce on a daily doji like candle print. Still hoping for a more serious bounce up to scalp or day trade buy into with positive price action. I'm dying of boredom.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed down on Friday over 3% and below the open. Stop above the previous day session high (1.05) to cap losses on head fake fade entries. More conservatively, stop above the close on Monday 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. Modest sell volume on Friday which means it may have decent chances for shorts. Another 1 test and fail would be ideal if the entry is top fished. Or it can be faded on panic dumps, etc.


Bearish Engulfing. I like it short below the low of Friday. Modest volume on the drop, which is a fair sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Monday. More conservatively a stop placed above Friday's close, too. The high on that day is not too far away to use for risk control via stops. Must keep under 1.50 on any pull ups to remain viable as a short. Avoid all big gaps/longs.


Bullish Engulfing. I like this long over the high of Friday. Small volume on the rise, which is a good 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is probably too far away to use for risk management via stops. Must keep above 2.50 on pull backs to remain viable as a long. Ideally, it remains over 2.58ish. No big gaps/shorts. No A/H quote.


A former mover, I like this long above 2.65 on a pull back bounce trade or wash out. 4 decreasing volume selling sessions running now. Or on spike ups as a scalp buy at or near the gun. Consistent trading above the open after the noise candle is a possible day trade long, too. Avoid shorts. It's now into the daily chart gap, but if it triggers and thus closes that, it could be a purchase or a possible swing. No big gaps. No A/H quote.

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