Thursday, May 30, 2013

Watchers for the 5-31-13 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 3.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.50. Needs to keep above the Thursday close, or at least above 3.75 on pull backs to remain viable as a long, aside from any early noise. Down A/H over 2%.


Red floater scan return. Idea is to play for more down side on day 2. Closed south 4.5% or so on Thursday off a flat open that ended below the debut. Stop just above the Thursday session high (0.69) 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. Big sell volume on Thursday means it might have suspect chances to work. A 0.65 fail would be ideal. Or on at 0.60. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 1.22 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 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. Up close to 1% A/H. Exiting below 1.12 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 7.98/holds. Moderate 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not 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 or shorts. No A/H quote.


In play both ways. As a long on continuation of momentum above 2.56/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50 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 2.50. No A/H quote. The fade is more likely given the price action on Thursday, but be flexible here.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 25.98/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 25.98 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean their interest is waning, suggesting reversal. Not really clear though. 26+ is the ticket for buyers. No A/H quote.


Only looking to fade this back under 4.50/holds. Or on a fail there. Already down A/H close to 1%. This could easily r/g and reverse and go well over 4.50 which could mean a great long, but with all the upside and gapper I'm flat on any more bullish price action. Also short on spike downs at or near the gun. No big gaps.

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: