Friday, June 07, 2013

Watchers for the 6-10-13 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 19.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 18. Needs to keep above the Friday close, or at least above 19 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 Friday off a gap up open that ended below the debut. Stop just above the Friday session high (1.29) 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. Decent sell volume on Friday means it might have suspect chances to work. A 1.11 fail would be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 1.18 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. Moderate volume on the rise, a neutral sign for new buys. Up A/H a teeny tad. Exiting below 1.10 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 0.77/holds. 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 0.735 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


In play both ways. As a long on continuation of momentum above 9.70/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9.50 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 9.50. No A/H quote move. The fade is more likely given the price action on Friday, but be flexible given the modest float.


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 10.05/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 10 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest buy volume, which could mean overt sell interest is waning, suggesting reversal. Not really clear though. No A/H quote change.


An oldie but goodie mover from the past that seems reversing short term after several red sessions. I like it long over 4.15/holds. Or on spiking up at or near the gun as a scalp buy. Avoid all big gaps/shorts. Set a stop just below 4 and stick to it on reversals which put your trigger long in trouble. Low float fade squeezer.

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