Wednesday, November 30, 2011

Watchers for the 12-1-11 trading session


Again, see my previous comments. Still applicable. Sell volume already diminishing greatly, so it might have bounce up soon. But that still might not be tomorrow...we will see. The best play of this type feature several, consecutive big down candle days, kind of like GRPN which worked for longs 2 days running now!


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 3.30) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Wednesday, a poor sign for new buys. Needs to keep above the Wednesday close or at least over 3 on pull backs to remain viable as a long, aside from any early noise. A Pinkie so watch out.


Bullish Engulfing. I like this long over the high of Wednesday. 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is borderline too far away to use for risk management via stops. Ideally stays above 2.15 (1.75 worst case) on pull backs to remain viable as a long. Avoid big gaps or shorts.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed up on Wednesday over 7% via a gapper but below the open. Stop above the previous day session high (0.79) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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 Wednesday which means it may have good prospects for shorts, at least once it weakens. No A/H quote. Avoid longs and big gaps.


Bearish Engulfing. I like it short below the low of Wednesday. Medium volume on the drop, which is a neutral 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 Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is probably too far away to use for risk control via stops. Ideally keeps under 2.00 on any pull ups to remain viable as a short. Avoid all big gaps/longs.


B/O scan. I like it long back over 4.64 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 Thursday. 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. Down almost 2.5% A/H under the trigger, so possibly just let it retest 4.50 and holds/perk 1st to enter unless it just spikes.


In play 2 ways. 1st as a long on a bounce. Last 3 sessions all on modest sell volume. Spike ups at or near the bell are scalp buys. Trouble is it's apparently up A/H last time I checked, so safest is to let the noise candle pass and wait for a test/hold/perk off 1.02-1.00 before buying as a day trade. On a fall fail under 1/holds short. Also short on panic dumps at any time, as a scalp. Once again, close feedback (1.00) is nice to have.

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