Saturday, May 05, 2012

Watchers for the 5-7-12 trading session


See my previous comments, similar application here on the over extended situation. This time a fall fail back under 11 or a test/fail of 11.50 is ideal. Volume on the buy side is lessening, so it might come soon. Up A/H over 11.50 so if it gaps it will lead to a good option on the failure assuming it hits Monday.


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 10.37) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Friday, a weak sign for new buys. Needs to keep above the Friday close or at least over 10 on pull backs to remain viable as a long, aside from any early noise.


B/O scan. I like it long back over 5.51 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is borderline 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 5.40 on fails after trigger entering might be prudent. Early r/g? No A/H quote.


Bullish Engulfing. I like this long over the high (15.50) of Friday. Low 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 15 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


Red floater scan return. Idea is to play for more down side on day 2. Ended down on Friday via a gap down debut that closed below the open after a number of mainly up days. Stops just above 7.41 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. Medium sell volume Friday which means it may have average chances for shorts. Avoid all big gaps, especially large gap downs. No longs.


See my previous session comments on this also. It's still due for a spring day session, with more support @ where it closed and @ 4.50ish. Low volume sells another good sign. A possible spike up long scalp or buy on consistent pricing above the open after the noise candle. No big gaps or shorts. If it gaps under the lowest support level let it test, take and holds 1st before buying. If over a test hold is ideal, but remember it might perk off either level area given. This is a possible swing as well, for the patient. Up trending, oversold


I like this short on over extension on a gap and crap top fish or better a fall fail back under 3/holds.  Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Stops above Friday's high at worst. More conservatively a bit over 3.15ish. No longs. A gap over or flat debut (likely) needs to fail at our level while a gap under ideally tests/fails it. Off table, a twin play is QASP.

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