Monday, July 02, 2012

Watchers for the 7-3-12 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 2.73) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Monday, a fair sign for new buys. Needs to keep above the Monday close or at least over 2.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change.


See my previous comment on this budding over extension play. Little has changed. Another big up day, volume increased well, relative to the Friday session, but we may get a chance to fade under 1.70-1.60, etc.


Also see my previous comments. Red floater finished on a near daily doji almost unchanged, on lower buy volume, so it's still in play to fade as per my comments for Monday, etc. Down A/H -0.5%. No big gaps.


B/O scan. I like it long back over 3.05 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday 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. Medium volume on the rise, a neutral sign for new buys. No A/H quote shift. Exiting below 3 or 2.90 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over the high (23.90) of Monday. Medium 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 Tuesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 23.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


In play both ways. 1st, as a fall fail fade back under 4. If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. 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 4 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 4 test that prevails. Low float zoomer, if shorting be careful and respect stops.


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 22.50. Use that or a bit over today's close for risk control. Trigger is below the low of last time, here under 21.82/holds. Avoid all big gaps, especially down ones. Down A/H a tad. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs.

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