Friday, August 23, 2013

Watchers for the 8-26-13 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 9.69) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Friday close, or at least above 9 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 9.50 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up almost 5% on Friday off a gap up that ended below the debut. Stop just above the Friday session high (5.74) 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 buy volume on Friday means it might have some real chances to work. An 5.25 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 8.92 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 not 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. Exiting below 8.75 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 4.09/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 not too far away to use for stops. Ideally stays above 4 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Price action sustained above 4 ideal for buyers.


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 close for risk control. Trigger is below the low of last time, here under 8.02/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 8.06 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.


In play both ways. As a long on continuation of momentum above 2.35/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.25 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 2.25. The fade is more likely given the price action on Friday, but keep an open mind. Modest float.


I like this long on a break out over 1.50/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 modest rise on Friday. Requires constant monitoring. Stops just under 1.45 is one risk management approach, since a fail back under indicates failure on the buy. Nice consolidation.

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