Sunday, July 22, 2012

Watchers for the 7-23-12 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 0.635) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Friday, a poor sign for new buys. Needs to keep above the Friday close or at least over 0.60 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up over 5.5% on Friday via a gap up that closed below the open after 4 up days. Stops just above 3.50 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. Large buy volume on Friday which means it may have decent 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 3.80 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 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. Moderate volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 3.50 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over the high (3.09) 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 risk management via stops. Ideally stays above 3 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


Bearish Engulfing. I like it short below the low (1.71) of Friday. Low volume on the drop, which is a fair 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 Monday. More conservatively a stop placed above Friday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 1.81ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. Low volume stock, be careful.


In play both ways. I like this long over 10.35 and short on a fall fail back under 10 or a rebuffed attempt. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 10.35 successfully, and overtakes the trigger price. Or the same with a ceiling at 10. Any gap over 10.35 needs to be played carefully. If it's just over, and holds on a test and perks off, longs are in play. If it does not hold the floor, a short is. As usual, heavy volume spikes up or down are scalp bait with discretion. Bouncer Friday.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use 5 instead alternatively, conservatively. Trigger is above the high of last time, here above 5.09/holds. Avoid all big gaps, especially up ones. No A/H quote. 5+ is the ticket. If it gaps over the trigger or 5 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.

Keep an eye off table on CNMXF a recent Supernovae which is at new highs after a fall day. It could have more down side. Panic dump short scalps, too. Stop above the high Friday. Honor it. Unclear float Pinkie.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: