Sunday, July 01, 2012

Watchers for the 7-2-12 trading session


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 13.06) 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 12.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up over 3.5% on Friday via a gap up that closed below the open after several up days. Stops just above 5.60 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 buy volume on Friday which means it may have unclear chances for shorts. Avoid all longs & big gaps, especially large gap downs. No A/H quote.


B/O scan. I like it long back over 7.13 and 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 may be 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. Exiting below 7 or at worst 6.85 on fails after trigger entering might be prudent. Early r/g buy?


In play both ways. 1st, as a fall fail fade back under 5. 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 5 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 5 test that prevails.


Bearish Engulfing. I like it short below the low (1.35) of Friday. Big volume on the drop, which is a poor sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Friday. More conservatively a stop placed above Friday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.50ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. This fell tons Friday, despite a run-up. Caution.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 1.53/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote. Keep in mind many plays like this go on longer than seems rational; it would not surprise me if it overtakes 1.56 and keeps going a bit. Stops above Friday's high or (1.60) at worst. Resistance there, BTW.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very immodest. Use 25.50 alternatively. Trigger is above the high of last time, here above 25.74/holds. Avoid all big gaps, especially up ones. No A/H quote. If it gaps over the trigger let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Tweezer bottoms make a clear support point for risk management cues.

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