Saturday, June 09, 2012

Watchers for the 6-11-12 trading session


Yet again see my previous comments. Price consolidation area screaming potential b/o over 10/holds. Sell volume really light Friday, a good sign for Monday as a long if it triggers. Stops below the close or high Friday.


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 13.30) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Friday, a neutral sign for new buys. Needs to keep above the Friday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Nice daily chart 12+ b/o.


Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 0.5% on Friday off a flat open that ended below the debut. Stop above the previous day session high (2.30) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday if it starts off net negative. 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 on Friday means it might have reasonable chances to work. A 2.25 fail would be ideal. Up about 0.5% AH. Avoid all big gaps and longs.


B/O scan. I like it long above 3.03. 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 arguably 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. No A/H quote change. If it does not spike up at the outset and retreats, letting it test/hold/perk off 3+ first is crucial. 


Bullish Engulfing. I like this long over the high (11.90) 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 likely too far away to use for stops. Ideally stays above 11 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Up A/H almost 2%. 


Hammer scan long. The tail is arguably not too long to use the low as a stop level unless the position is large. Some support is on the daily chart right at 2.50 Use a bit under Friday's close for risk control. Or just under 2.50, etc. Trigger is above the high of last time, here above 2.60/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger let it test/hold/perk 1st before entering. No shorts, keep flat on redness. 


In play both ways. 1st, as a fall fail fade back under 9. If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. No A/H quote. Also a short on panic dumps at or near the bell or in the afternoon. No huge gaps. Long on more upside on a test/hold/perk off 9. If this maintains this it could have more. Also long on spiking up at or near the gun for a scalp. An over/under live price action call. Possible red to green long after a weak open and 9 test that prevails. 3 White Soldiers, more 52's Friday.

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