Thursday, October 03, 2013

Watchers for the 10-4-13 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 13.50) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12. Needs to keep above the Thursday close, or at least above 12.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more down side on day 2. Closed down by over 1.5% on Thursday off a gap up that ended below the debut. Stop just above the Thursday session high (7.33) 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 Thursday means it may have some chances to work. A 7 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 0.46 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. Exiting below 0.43 on fails after trigger entry is possibly advisable. Early r/g? Down a hair A/H.


Bullish Engulfing. I like this long over 10.49/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 on Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 10.30 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 2.55/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50 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 2.50. The fade is more likely with the price action on Thursday, but keep an open mind. Fairly modest float so tread with care.


I like this long on a break out over 1.79/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 pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Modest volume sizable rise on Thursday. Requires constant monitoring. Stops just under 1.70 is one risk management approach, since a fail back under indicates failure on the buy. Up A/H 1%+.


Bearish Engulfing. I like it short below the low (2.90) of Thursday. Modest volume on the drop, which is a fair 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 Friday. More conservatively a stop placed above Thursday's close, too. The high on that day is arguably not too far away to use for risk control via stops. Ideally keeps under 3 on any pull ups to stay viable as a short. Avoid all big gaps/longs.

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: