Tuesday, June 19, 2012

Watchers for the 6-20-12 trading session


See my comments for the past several sessions. This finally reddened, but not by much, today. It may have more back under 7/holds, especially. Decent sell volume, not a the greatest sign. But most of my previous analysis remains in effect. Over extension play. No A/H quote. Avoid all big gap downs.


Also see my previous comments, still in effect mostly. This rose through 15 on modest volume. Over extension play, looking especially for a fall fail back under 15/hold Avoid big gap downs.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up about 1% on Tuesday via a gap up that closed below the open after 5 up days. Stops just above 10.61 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Medium buy volume on Tuesday which means it may have average chances for shorts. Avoid all big gaps, especially large gap downs. No buys. Down A/H  1%+


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 10.34) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium strong Tuesday, a weak sign for new buys. Needs to keep above the Tuesday close or at least over 9.50 on pull backs to remain viable as a long, aside from any early noise. Ideally takes 10+/holds for longs.


Bullish Engulfing. I like this long over the high (10.20) 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 arguably not too far away to use for risk management via stops. Ideally stays above 10 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Down A/H?


B/O scan. I like it long above 7.18. 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 possibly 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. No A/H quote shift, avoid all big gaps. If it gets over 7.25 it could keep going. Possible stop just under 7?


Hammer scan short. The tail is arguably not too long to use the high as a stop level unless the position is large. Some resistance is on the daily chart right at 19. Use a bit over today's close for risk control. Trigger is below the low of last time, here under 17.93/holds. Avoid all big gaps, especially down ones. Up A/H over 0.5%. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. 18 fail in effect.

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