Friday, June 15, 2012

Watchers for the 6-18-12 trading session


Again, see my previous comments. This fake out artist keeps advancing on low volume, sucking in early shorts when it typically goes red in the morning, then rebounds. It may not be enough here to rely on entering the fade under the current open and previous close. The previous low may need to be used, here 11.30, etc.  Stop above the high of Friday or the initial 30 minute one on Monday. No A/H quote shift. No big downs.


Also see my previous comments, still in effect. Volume still strong, so respect it. Still playing for a short entry. Stop above Friday's high or the 1st 30 minute one on Monday. No big gap downs. No A/H quote.


On a monster tear lately, making new 52's, this is also over extending and is thus in play both ways. Off early weakness and a sprightly red to green move, long, and on more annual highs. Or on spiking up at or near the gun as a buy scalp or on consistent moves over the open over 9+/holds. A short on panic dumps at any time, especially at or near the open. Or on confirmed weakness cues and a fall fail back under 9/holds. Down a tad A/H. Peak volume Friday. Avoid big gap downs. Stops (short) above the high Friday or close, or the initial 30 minute one Monday. Stops for longs just under 9 if it takes off.


B/O scan. I like it long above 7/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 likely 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 fair 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 7+ first is crucial. Stops under 6.70.


Bullish Engulfing. I like this long over the high (5.05) of Friday. Modest 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 just under Friday's close, too or 5 itself. The low on that day is arguably too far away to use for stops. Ideally stays above 4.90 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 2.50 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 2.75 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 2.75 test that prevails. 


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use just under 12 alternatively. Trigger is above the high of last time, here above 12.19/holds. Avoid all big gaps, especially up ones. Down over 1% A/H. If it gaps over the trigger let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Nice close feedback.

Off table, watch PVA for more upside over 6.50/holds. Let it test 1st if possible. Or scalp buy spikes. This seems to have some momentum and has made it over a critical area of essential resistance.  

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