Saturday, July 06, 2013

Watchers for the 7-8-13 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 11) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10. Needs to keep above the Friday close, or at least above 10.50 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 1% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (9.50) 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. Very low buy volume on Friday means it might have suspect chances to work. A 9.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 3.32 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 likely too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. No A/H quote. Exiting below 3.20 on fails after trigger entry is possibly advisable. Early r/g?


Bearish Engulfing. I like it short below the low (3.36) of Friday. Modest volume on the drop, which is a decent sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Monday. More conservatively a stop placed just above Friday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.45 on any pull ups to stay viable as a short. Avoid all big gaps/longs. No A/H quote.


In play both ways. As a long on continuation of momentum above 1.64/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.60 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 1.60. The fade is more likely given the price action on Friday, but keep an open mind. Modest float, so short squeeze prone.


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 7.03/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 7 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate sell volume, which could mean overt sell interest has not fully waned, suggesting reversal may not be yet at hand. No A/H quote.


I like this long back over 4/holds. Set a stop not much under 3.95. Nice move over 3.75 today. No shorts. No A/H quote. More aggressively long on a test/hold/perk off 4. Low volume rise. Spike up scalp buy?

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