Sunday, August 20, 2017

Watchers for the 8-21-17 trading session


Finished up over 4.5% Friday. See my previous comments for approaches. Potential short.


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 4.64) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4.50 Needs to keep above the Friday close, or at least above 4.40 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.64 are ideal for aggressive entry.


B/O scan. I like it long back over 0.32 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. Low volume on the rise, a good sign for new buys. Exiting below 0.275 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 4/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 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 3.85 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 28.56/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 28.25/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 28.45. The fade is more likely given the price action on Friday, but keep an open mind.


Parabolic Sar scan. I like it long over 6.55 and holds. Decent volume on the rise Friday, a mediocre sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.


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 26.48/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 26.43 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest has not arrived, suggesting reversal upwards may be iffy.

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