Friday, May 31, 2013

Watchers for the 6-3-13 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 17.79) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Friday close, or at least above 17 on pull backs to remain viable as a long, aside from any early noise. Down A/H a tad.


B/O scan. I like it long back over 3.66 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Small volume on the rise, a fair sign for new buys. No A/H quote shift. Exiting below 3.50 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 15.50/holds. Modest volume on the rise, which is a decent 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 15.15 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Down A/H a teeny tad.


In play both ways. As a long on continuation of momentum above 2.41/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.37 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 2.37. No A/H quote move. The fade is more likely given the price action on Friday, but be flexible here given the low float.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up 2.5% or so on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (2.17) 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 Friday means it might have unclear chances to work. A 2 fail would be ideal. Avoid big gaps/longs. Needs volume. Panic dump?


Only looking to fade this back under 4/holds. Or on a fail there. Already down A/H close to 1%. This could easily r/g and reverse and go well over 4.07 which could mean a great long, but with all the upside/overextension I'm flat on any more bullish price action. Also short on spike downs at or near the gun. No big gaps. Low float so keep that in mind if fading a reversal to avoid being squeezed. Honor stops.


Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Friday's open for risk control. Trigger is below the low of last time, here under 21.52/holds. Avoid all big gaps, especially down ones. Up A/H over 1%. If it gaps under the trigger or 21.50 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.

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