Thursday, July 12, 2012

Watchers for the 7-13-12 trading session


Again, see my previous and initial comments on this, little has changed. The danger is it seems consolidating. Finished unchanged Thursday on a bit less than medium volume. Still in play for a fall day fade. No longs.


Once more, see my previous analysis, still in effect. This Bullish Engulfing play ended unchanged relative to the previous close, so it's a wash and is on watch for Friday. Low volume on the move. Up A/H about 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 4.06) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume moderate Thursday, a neutral sign for new buys. Needs to keep above the Thursday close or at least over 4 (at least 3.85) on pull backs to remain viable as a long, aside from any early noise. Up over 1% A/H.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up almost 3.5% on Thursday via a gap up that closed below the open after many up days. Stops just above 5.78 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. Modest sell volume on Thursday which means it may have fair chances for shorts. Avoid all longs and big gaps, especially large gap downs. No A/H quote.


B/O scan. I like it long back over 6.02 and holds. 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 arguably 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. No A/H quote shift. Exiting below 6 on fails after trigger entering might be prudent, or 5.90. Early r/g buy?


Bullish Engulfing. I like this long over the high (3.75) 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 risk management via stops. Ideally stays above 3.60 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Down A/H a tad.


In play both ways. 1st, as a fall fail fade back under 7.50. 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 7.50. 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 7.50 test that prevails. Low float, shorts honor your stops. 

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