Friday, October 04, 2013

Watchers for the 10-7-13 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 8.60) and holds. Avoid shorts, keep flat on true weakness. Nice move above 8. Needs to keep above the Friday close, or at least above 8 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 8.50 are ideal for aggressive entry. Up A/H a tad.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up by over 8% on Friday off a gap up that ended below the debut. Stop just above the Friday session high (9.65) 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 may have some chances to work. A 9 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 4.60 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. Medium volume on the rise, a tepid sign for new buys. Exiting below 4.50 on fails after trigger entry is possibly advisable. Early r/g? Up A/H over 0.50% so let it settle in first.


Bullish Engulfing. I like this long over 13.61/holds. Very low volume on the rise, which is a good 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 13.55 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Down A/H over 0.50%.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 3/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 3 and keeps going a bit. Stops several cents above Friday's high at worst. Avoid squeezes on reversals to over 3.


In play both ways. I like this long over 2.50 and short on a fall fail back under 2.50 or a rebuffed attempt. Could use a bit more volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 2.50 successfully, and overtakes the trigger price. Or the same with a ceiling at 2.50. Any gap over 2.50 needs to be played carefully. If it's just over, and holds on a test and perks off, longs are in play. If it does not hold the floor, a short is. As usual, heavy volume spikes up or down are scalp bait with caution. Extremely low float, possible short squeezer.


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 open alternatively instead. Trigger is above the high of last time, here above 26.09/holds. Avoid all big gaps, especially up ones. 26+ is the ticket. No A/H quote. If it gaps over the trigger or 26 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.

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