Thursday, September 06, 2012

Watchers for the 9-7-12 trading session


Again, see my previous comments, same guidelines. Selling volume print lessened, a good sign. Still looking for 1+ and holds to buy into the bottom fishing trip. Stops under 0.86 at worst. Avoid big gaps and shorts.


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 5.66) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume moderate Thursday, a middle of the road sign for new buys. Needs to keep above the Thursday close or at least over 5.50 on pull backs to remain viable as a long, aside from any early noise.


B/O scan. I like it long back over 1.28 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 likely 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. Down over 2.5% A/H. Exiting below 1.25 on fails after trigger entering might be prudent. Early r/g buy?


Bearish Engulfing. I like it short below the low (2.98) of Thursday. 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 Thursday's close, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 3.21ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. Up over 0.5% A/H.


In play both ways. I like this long over 4.04 and short on a fall fail back under 4 or a rebuffed attempt. Big buy volume today not a plus here. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 4 successfully, and overtakes the trigger price. Or the same with a ceiling at 4. Any gap over 4 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.


Hammer scan short. The tail is arguably not too long to use the low as a stop level unless the position is large. Chart gap is on the daily chart right at 28.59-61. Can use a bit over today's close for risk control. Trigger is below the low of last time, here under 27.43/holds. Avoid all big gaps, especially down ones. No A/H quote. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs.


Bullish Engulfing. I like this long over the high (7.94) of Thursday. Large volume on the rise, which is a poor 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 stops. Ideally stays above 7.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 

Off record keep watching NSPR which is a bit overdone now, but it could yield a red to green and more upside or sport a decay back under 2.25 to fade into. Not on my main list.

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