Monday, March 16, 2015

Watchers for the 3-17-15 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 3.44) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Monday close, or at least above 3 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.14 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 7.65/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 7/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 7. The fade is more likely given the price action on Monday, but keep an open mind.


B/O scan. I like it long back over 8.54 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 8 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 5.05/holds. Modest 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 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 4.90 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


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 16.23/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 16.22 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest is still developing, suggesting reversal upwards is further ahead.


I like this long on a break out over 21.75/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 gap up sizable rise on Monday. Requires constant monitoring. Stops just under 21 is one risk managing approach, since a fail back under indicates failure on the buy. 


I like this short on over extension on a gap and crap top fish or better a fall fail back under 7.50/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 7.65 and keeps going a bit. Stops above Monday's high at worst. May not be done yet. 

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