Tuesday, April 30, 2013

Watchers for the 5-1-13 trading session


New 52's. Short term, these yearly high stocks often 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 14.20) and holds. Avoid shorts, keep flat on true weakness. Nice move above 13.50. Needs to keep above the Tuesday close, or at least above 13.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote shift.


Red floater scan return. Idea is to play for more down side on day 2. Closed down on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high 19.16) 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. Moderate sell volume on Monday means it might have unclear chances to work. A 19 fail would be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 8.02 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 Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is not 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 A/H over 1%. Exiting below 7.77 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 3.92/holds. Modest 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is likely too far away to use for stops. Ideally stays above 3.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Up A/H a bit.


I like this long back over 13.10. Set a stop not much under 12.50. Nice move over that today. No shorts. No A/H quote shift. More aggressively long on a test/hold/perk off 13. Earnings news. Spike up scalp buy?


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is fairly large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 12.23/holds. Avoid all big gaps, especially up ones. 12.25+ is the ticket. No A/H quote move. If it gaps over the trigger or 12.18 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.


In play both ways. As a long on continuation of momentum above 4.60/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 4. No A/H quote move. The fade is more likely given the price action on Tuesday.

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