Tuesday, May 01, 2012

Watchers for the 5-2-12 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 1.95) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Tuesday, a decent sign for new buys. Needs to keep above the Tuesday close or at least over 1.90 on pull backs to remain viable as a long, aside from any early noise. 2 test pivotal, scale in option on holds. An OTC stock, ignore A/H quotes.


Red floater scan return. Idea is to play for more down side on day 2. Ended down on Tuesday via a gap down debut that closed below the open after several mostly up days. Stops just above 19.06 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 sell volume Tuesday which means it may have possible chances for shorts. Avoid all big gaps, especially large gap downs. No buys. No A/H quote change. An 18.50 fail is ideal here.


B/O scan. I like it long back over 3.49 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 neutral sign for new buys. Exiting below 3.40 on fails after trigger entering might be prudent. Early r/g? No A/H quote. 3.50+ ideal.


Bullish Engulfing. I like this long over the high (12.44) of Tuesday. Modest volume on the rise, which is a fair 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 stops. Ideally stays above 12 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.


Bearish Engulfing. I like it short below the low (4.01) of Tuesday. 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 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 4.26ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.


A clear potential short on early spikes up for a top fishing fade, or better yet a fall fail back under 1 to sell into. Or on confirmed weakness cues after the noise candle, or as a scalp sale on panic dumps. Almost a hammer on the upside, which is a good sign of waning momentum. No big gaps or longs. No A/H quote. A gap over or under the trigger needs test/fails post noise candle 1st to enter.


This is clearly overdone now after its 20 fail. A strong stock, it has over 20 bargain hunter bounce written all over it. It was an awesome short the past few days after idiots piled in long and got sold off, but now the long, if it sets up, is the ticket. Buy on spiking up at or near the gun as a scalp. Or on pricing above the open after the noise candle, especially on a retake of 20/holds. No shorts or big gaps. A gap over the trigger needs to test/hold/perk 1st before entering. Up a bit over 0.5% A/H. Early panic dumps could shake out both stubborn longs and some shorts and could yield a buy in the initial 30 minute period, too.

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