Thursday, December 19, 2013

Watchers for the 12-20-13 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 6.32) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5. Needs to keep above the Thursday close, or at least above 5.65 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 6 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more down side on day 2. Closed red almost by 4% on Thursday off a gap down open that ended below the debut. Stop just above the Thursday session high (10.65) 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. Low sell volume on Wednesday means it may have fair chances to work. A 10 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 2.54 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. Sizable volume on the rise, a weak sign for new buys. Exiting below 2.40 on fails after trigger entry is possibly advisable. Early r/g buy? Down A/H 2% so wait for clarity.


Bullish Engulfing. I like this long over 16.55/holds. 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 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 16.25 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 3.24/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3 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 3. The fade is more likely given the price action on Thursday, but keep an open mind.


I like this long on a break out over 3.02/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. Moderate volume fairly decent rise on Thursday. Requires constant monitoring. Stops just under 2.90 is one risk managing approach, since a fail back under indicates failure on the buy.


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 Thursday's open for risk control. Trigger is below the low of last time, here under 7.15/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 7.22 let it test/hold/fall from there 1st before entering. No longs. Stop above Thursday's high at the most if more aggressive.

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