Tuesday, July 03, 2012

Watchers for the 7-5-12 trading session


Again, see my previous comments for the possible short on over extension. Little has changed. Small volume on the sell side also a plus. It closed unchanged relative to the previous close on the 3rd of July.


Bullish Engulfing. I like this long over the high (14.98) of Tuesday. 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 Thursday. More conservatively a stop placed under Tuesday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 14.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


B/O scan. I like it long back over 2.04 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Tuesday 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 fair sign for new buys. No A/H quote shift. Exiting below 2 or 1.95 on fails after trigger entering might be prudent. Early r/g buy?


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 3.46) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Tuesday, a fair sign for new buys. Needs to keep above the Tuesday close or at least over 3.25 on pull backs to remain viable as a long, aside from any early noise. Down over 3% A/H.


Red floater scan return. Idea is to play for more down side on day 2. Ended down over 0.5% on Tuesday via a gap up that closed below the open after several mostly up days. Stops just above 8.72 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. Medium sell volume on Tuesday which means it may have unclear chances for shorts. Avoid all longs and big gaps, especially large gap downs. No A/H quote.


Again, see my analysis for last time, mostly unchanged. In play either way over/under 4 as I described. Finished unchanged relative to the previous close on low sell volume. Low float, be careful if short. Pinkie. 


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use the previous session close alternatively. Trigger is above the high of last time, here above 24.06/holds. Avoid all big gaps, especially up ones. 24+ is the ticket. No A/H quote. If it gaps over the trigger or 24 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Possible early weakness r/g move to buy.

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