Sunday, June 03, 2012

Watchers for the 6-4-12 trading session


Supernovae, still maturing. See my comments for last time, mostly still in effect. Volume still strong, so it might not be done yet, thus be careful. Ideal is a fail at 3 on attempt or brief move over then back under. Up a tad A/H. Anything with a fairly modest float should be respected by shorts given the squeeze potential.


New 52's almost. Short term, these potential 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 4.51) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Friday, a fair sign for new buys. Needs to keep above the Friday close or at least over 4 on pull backs to remain viable as a long, aside from any early noise. Up almost 1% A/H. Hit 4.40 on Friday.


Bullish Engulfing. I like this long over the high (2.52) of Friday. Low volume on the rise, which is a fair 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 under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 2.37 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.


B/O scan. I like it long above 4.33. 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 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. Up a tad A/H. If it does not spike up at the outset and retreats, letting it test and hold/perk off 4.25 first before buying is smart.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 2.20/holds and 2. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind some plays like this go on longer than anticipated; it would not surprise me if it overtakes 2.20 and keeps going a bit. Stops above Friday's high conservatively, or a bit above the close. No longs. No A/H quote.These are very high percentage plays if timed well. Resistance daily chart @ 2.20.


In play both ways. As a long on spiking up at or near the gun as a scalp. Or on take/hold/perk off of 1.56. Or as a short on a fall fail back below 1.50 or a gap over and move back under and holds. Or on spike downs at or near the gun as a scalp fade. I am hoping for the short as I see more routes to that. Psychological distribution area exists near the level given above, sells there are likely. These make good risk control points when setting stops. Fairly modest float, possible squeezer. No A/H quote. Avoid all big gaps.


Basing scan. 10 straight red sessions. Idea is to play for a break above 0.40/holds. If it gaps over, let it test/hold/perk before purchasing. No shorts. Trigger long only. Stop just under previous session low or the close, if conservative. Avoid all big gaps, especially up ones. Spike up scalp buy at/near open or r/g route.

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