Friday, June 21, 2013

Watchers for the 6-24-13 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 1) and holds. Avoid shorts, keep flat on true weakness. Nice move above 0.90. Needs to keep above the Friday close, or at least above 0.90 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more down side on day 2. Closed south almost 2% on Friday off a gap down open that ended below the debut. Stop just above the Friday session high (7.22) 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. Modest sell volume on Friday means it might have unclear chances to work. A 7.14 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 4.38 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. No A.H quote. Exiting below 4.25 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 11.48/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 arguably not too far away to use for stops. Ideally stays above 11.25 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.


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 close alternatively instead. Trigger is above the high of last time, here above 14.44/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 14.36 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which could mean overt sell interest has not fully waned, suggesting reversal may not be yet at hand. No A/H quote.


In play both ways. As a long on continuation of momentum above 2.20/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 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. The fade is more likely given the price action on Friday, but keep an open mind. Down A/H less than 0.50%.


A low float stock, I like this long on a break out over 3.86/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early psuedo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Low volume rise on Friday. Requires constant monitoring. Stops just under 3.60 is one risk management approach.

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