Tuesday, November 29, 2011

Watchers for the 11-30-11 trading session

I did not do selections except off table last night. Those went as follows. ALIM gave us our nice bounce, finally. It close up almost 12% today. Ditto for GRPN which climbed over 5% today. NLST also moved up for longs, opening weak and rising in the afternoon. It closed weakly, but still north by over 6% today. 3-0!


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 (13.95) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Tuesday, a neutral sign for new buys. Needs to keep above the Tuesday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Down a bit A/H.


B/O scan. I like it long back over 1.05 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. Up almost 3% A/H over the trigger, so let it retest 1 and holds 1st to enter unless it just spikes.


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 not too far away to use for risk management via stops. Ideally stays above 0.22 on pull backs to remain viable as a long. Avoid big gaps or shorts. A really cheap Pinkie, be careful.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed down on Tuesday nearly 2% and below the open. Stop above the previous day session high (2.89) 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 sell volume on Tuesday which means it may have poor chances for shorts. No A/H quote. Avoid longs and big gaps.


The latest dead cat bounce play candidate, this one might not be done yet, so be patient if bottom fishing. Closed down almost 43% possibly on no obvious news? A long scalp on spiking up at or near the bell, or on consistent trading above the open tomorrow after the noise candle as a monitored day trade, etc. Often one has to follow a set up like this for several additional red days before getting a chance to enter. Avoid big gaps.


3 White soldiers. I like this long over 4 and holds. Took 4 today. Down over 1% A/H, so wait for a test/hold/perk off 4 after the noise candle to enter as a buyer. Early r/g long or on spiking up at or near the gun as a scalp. Short possible on a fall fail back under 4 and holds, but I'm flat on that. Avoid big gaps.


Double bottom. 9 straight red sessions. Hit 5.10 on 10/4/11 and closed there today. Idea is to play for a long bounce, naturally. You can short the fall fail of 5 if it happens but I'm flat on that. Avoid big gaps. No A/H quote. I would let it test/hold/perk off 5 before entering. Also long on spiking up at or near the bell. Stops just under today's low or the initial 30 minute on tomorrow. Close feed back area trades like this are good finds.

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