Thursday, June 14, 2012

Watchers for the 6-15-12 trading session


See my previous comments. Still applicable. Still looking to fade this below the previous session close and under the Friday open. Should be under the initial 30 minute low tomorrow, too. Stop above the high today. 14 fail ideal.


Again refer to my previous comments. Still in effect. Volume on the buy side remains strong, so be careful. Really extending now, a fade on a fall day beckons. Use today's high for risk control at most. 6.75 fail ideal. Entering below the initial 30 minute low tomorrow conservatively approaches this trade.


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 5.22) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 5.10 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Nice daily chart 5+ b/o.


B/O scan. I like it long above 6.21. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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. Moderate 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 6+ first is crucial.


Bullish Engulfing. I like this long over the high (8.77) of Thursday. Moderate 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is too far away to use for stops. Ideally stays above 8.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


Hammer scan long. The tail is too long to use the low as a stop level unless the position is very modest. Use the previous session close instead or just under 4. Trigger is above the high of last time, here above 4.06/holds. Avoid all big gaps, especially up ones. 4+ is the ticket. Up over 1% A/H. If it gaps over the trigger or 4 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Nice close feedback.


In play both ways. 1st, as a fall fail fade back under 3.25 If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Up A/H over 1.5%. 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 3.25 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 3.25 test that prevails.

Again watch Superman pumper ROSG for more upside above 10/holds as a long. Use today's low or the initial 30 minute one tomorrow as risk control. This is an off table selection.
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