Tuesday, May 15, 2012

Watchers for the 5-16-12 trading session


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 5.05) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a suspect sign for new buys. Needs to keep above the Tuesday close or at least over 4.70 on pull backs to remain viable as a long, aside from any early noise. A modest float which can possibly squeeze.


B/O scan. I like it long back over 1.35 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. Medium volume on the rise, a tepid sign for new buys. Exiting below 1.20 on fails after trigger entering might be prudent. Early r/g? Up a bit over 3% A/H.


Red floater scan return. Idea is to play for more down side on day 2. Ended down over 1% on Tuesday via a gap up that closed below the open after 5 up days. Stops just above 1.74 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. Medium sell volume on Tuesday which means it may have unclear chances for shorts. Avoid all big gaps, especially large gap downs. No buys.


Bearish Engulfing. I like it short below the low (2.81) of Tuesday. Low volume on the drop, which is a good 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 2.87ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.


Bullish Engulfing. I like this long over the high (1.52) of Tuesday. Moderate volume on the rise, which is a tepid 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 likely not too far away to use for stops. Ideally stays above 1.45 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 5/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Down A/H about 0.5%. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 5 and keeps going a bit. Stops above today's high will not work since it's too far away. Set it a bit over 5 if an entry presents itself. No longs. Low float. It's possible this just opens flat or nominally up/down and falls from there, too. This is a short with possibly tighter stops using the close today.


A daily chart eying a potential B/O with a brief cup correction over 10.90/holds. No shorts, keep flat on really weak price action. Modest buy volume today, a decent sign for potential longs if it triggers. Or on consistent moves above the noise candle, or as a scalp buy on spike ups at or near the gun. Avoid big gaps. Down A/H over 2%. Possible swing play. Ideally holds above 10.50 after entry.

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