Monday, July 08, 2013

Watchers for the 7-9-13 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 1.43) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.30. Needs to keep above the Monday close, or at least above 1.35 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 down almost 2% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (2.72) 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 Monday means it might have suspect chances to work. A 2.62 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 6.11 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday 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. Moderate volume on the rise, a neutral sign for new buys. No A/H quote. Exiting below 6.05 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 5.49/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is likely too far away to use for stops. Ideally stays above 5.12 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Up A/H over 1%.


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 Monday's close for risk control. Trigger is below the low of last time, here under 14.63/holds. Avoid all big gaps, especially down ones. No A/H quote shift. If it gaps under the trigger or 14.75 let it test/hold/fall from there 1st before entering. No longs. Stop above Monday's high at the most if more aggressive.


In play both ways. As a long on continuation of momentum above 1.29/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.30 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 1.30. The fade is more likely given the price action on Monday, but keep an open mind.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 1.25/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 1.26 and keeps going a bit. Stops above today's high at worst.

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: