Tuesday, June 12, 2012

Watchers for the 6-13-12 trading session


See my previous comments. This is still in play on over extension. Ideally we get a fail at 14 or early panic dumps, etc. Stops above the high today.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 6/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 6.30 and keeps going a bit. Stops above today's high at worst. No longs, keep flat on upside.


Bullish Engulfing. I like this long over the high (3.06) of Tuesday. 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is likely too far away to use for stops. Ideally stays above 3 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


In play both ways. 1st, as a fall fail fade back under 1.50 If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. No A/H quote change. 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 1.50 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 1.50 test that prevails.


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 2.10) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Tuesday, a poor sign for new buys. Needs to keep above the Tuesday close or at least over 2 on pull backs to remain viable as a long, aside from any early noise. Down A/H almost 1.5% Nice 2+ move on the daily.


B/O scan. I like it long above 8.67. 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 likely too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. Down A/H over 1% If it does not spike up at the outset and retreats, letting it test/hold/perk off 8.50+ first is essential.


I like this long off a weak open and an early r/g move over 15/holds. Also long on spiking up at or near the gun or consist moves above the open after the noise candle. Down a tad A/H so the early reversal idea may be in store. No shorts, keep flat on authentic bearish price action. News catalyst. 2nd day possible here.

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