Monday, April 30, 2012

Watchers for the 5-1-12 trading session


New 52's. Well, almost. 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 1.25) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Monday, a tepid sign for new buys. Needs to keep above the Monday close or at least over 1.11 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up on Monday via a gap up debut that closed below the open after 5 up days. Stops just above 10.37 tops to cap losses on head fake fade entries. 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 buy volume Monday which means it may have possible chances for shorts. Avoid all big gaps, especially large gap downs. No buys. No A/H quote. A 10 fail is ideal here.


B/O scan. I like it long back over 7.97 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is arguably not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. Exiting below 7.90 on fails after trigger entering might be prudent. Early r/g? No A/H quote. 8+ ideal.


Bullish Engulfing. I like this long over the high (1.32) of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 1.29 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


Bearish Engulfing. I like it short below the low (3.11) of Monday. 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 Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is arguably not too far away to use for risk control via stops. Ideally keeps under 3.16ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. Down A/H a bit over 0.5% under the trigger, so it needs to be tested early for entry. Do not enter on the noise candle!


Believe it or not, this might have more upside to squeeze shorts with given more promotions during the week. Might pull back clearly, hold support, then perk and resume providing a possible bottom calling dip entry. Obviously needs to hold 2. Likely morning strength or inching to long initially, with live monitoring.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 13/holds. Support today there. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Up over 2% A/H. It also would not surprise me if it overtakes 13.27 and keeps going a bit, ruining a fade. Stops above Monday's high at worst. A gap over 13 test/fail 1st, which is likely. A similar (off table) over extension is ACAS which needs a 10 fail respectively. Both of these are watchable.

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