Monday, May 21, 2012

Watchers for the 5-22-12 trading session


Supernovae scan, still maturing. See my previous comments, still in effect. Advanced almost 25% on lessening but still formidable volume. A respectable sign, but be aware it might not be done yet. Potential short. Stops just above 7 ideally. A fail there or at 8, the previous approximate high, is possible.


B/O scan. I like it long back over 5.66 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 not 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 decent sign for new buys. Exiting below 5.60 on fails after trigger entering might be prudent. Early r/g? No A/H quote change.


Bullish Engulfing. I like this long over the high (13.28) of Monday. Respectable volume on the rise, which is a questionable 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 arguably too far away to use for stops. Ideally stays above 13 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


Now officially at yearly highs, but I am looking to fade this based on a 12 over/under fail. Or on panic dumps at or near the gun as a scalp short. If it gaps over 12, let it test and fall fail back under 1st before selling. Avoid all big gaps, especially down ones. If it gap under or opens flat, a test/fail of 12 is ideal. No longs. Set a stop just over the high of Monday and honor it. Volume still formidable, so it may have life left.


Possible promotion aided this today. It might have more life as an early long off a weak open coupled with a timely red to green move. Or on spiking up at or near the bell as a buy scalp. Or on a move over the open after the noise candle to test 5. A take and hold of that is also a buying opportunity. No shorts yet. Avoid all big gaps, especially down ones. If it gaps over 5, let it test/hold/perk 1st before purchase. Bolt on reversals.


Hammer scan long. The tail is arguably not too long to use the low as a stop level unless the position is large. Use a bit under 28 for risk control. Trigger is above the high of last time, here above 28.68/holds. Avoid all big gap, especially up ones. No A/H quote. If it gaps over the trigger let it test/hold/perk 1st before entering. No shorts, keep flat on redness.


Another pumper. See:  Risky cheapie Pinkie that I hope dies at/back under 0.15 tomorrow or soon. Get out on more upside. Could fake out to upside so an afternoon fade would be ideal once the noise is over. This could easily go further than anyone thought possible, if additional materials come in to promote it. That means a possible top fish fail fade I hope it can avoid. Stops no higher than Monday's peak. No big gap downs.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: