Monday, June 11, 2012

Watchers for 6-12-12 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 4.50) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Monday, a poor sign for new buys. Needs to keep above the Monday close or at least over 4.25 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Nice daily chart 4+ b/o.


Red floater scan return. Idea is to play for more down side on day 2. Closed down over 0.5% on Monday off a gap up that ended below the debut. Stop above the previous day session high 6.97) to cap losses on head fake fade entries. More conservatively, stop above the close on Monday 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 Monday means it might have reasonable chances to work. A 6.90-7 fail would be ideal. Down a tad AH. Avoid all big gaps and longs.


B/O scan. I like it long above 1.98. 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 likely 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. No A/H quote. If it does not spike up at the outset and retreats, letting it test/hold/perk off 2+ first is crucial.


Bullish Engulfing. I like this long over the high (8.23) of Monday. Medium volume on the rise, which is a neutral 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 likely too far away to use for stops. Ideally stays above 7..50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Up A/H almost 3%.


Bearish Engulfing. I like it short below the low (2.15) of Monday. Medium volume on the drop, which is a neutral 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 Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 2.34ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.


In play both ways. 1st, as a fall fail fade back under 4 If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Up A/H a tad. 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 4 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 4 test that prevails. 


I like this short on over extension on a gap and crap top fish or better a fall fail back under 13/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote change. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 13 and keeps going a bit. Stops above today's high at worst. No longs, keep flat on upside.

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