Thursday, April 27, 2017

Watchers for the 4-28-17 trading session

MTBC

Supernovae, still maturing. See my previous comments for general approaches.


CLUB

In play both ways. As a long on continuation of momentum above 4.10/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4/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 4.05. The fade is more likely given the price action on Thursday, but keep an open mind.


LLNW

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 3.23) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Thursday close, or at least above 3 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.22 are ideal for aggressive entry.



FNMA

Red floater scan return. Idea is to play for more, real down side on day 2. Closed down over 1% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (2.95) 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 volume on Thursday means it may have good chances to work. A 2.90 fail may be ideal. Avoid big gaps/longs. Panic dump?



SYN

B/O scan. I like it long back over 0.63 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. Moderate volume on the rise, an unclear sign for new buys. Exiting below 0.56 on fails after trigger entry is possibly advisable. Early r/g buy?



EKSO

Bullish Engulfing. I like this long over 3/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 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 2.91 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



SA

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 close alternatively instead. Trigger is above the high of last time, here above 10.30/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 10.10 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which may mean overt buy interest is now arriving, suggesting reversal upwards may be imminent.


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Trade review 4-27-17

I got some of them right on Thursday...

Hits:

CNAT

Early downside reversed to end up over 6% today.

Misses:

MTBC

Early downside reversed to end up over 27% today to burn shorts.

XRX

Early upside reversed though it ended up under 0.50% today.

MRLDF

An early fail of trigger short ended near entry to lose on commission red by over 4% today.

PSLV

Early downside ended down over 1% today.

Push:

FUSZ

A gap up rose to end up over 10.5% today.

BVN

A steady drop ended down over 3% today.

Totals:
Daily record: W-1-L-4-P-2
20%

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Wednesday, April 26, 2017

Watchers for the 4-27-17 trading session

FUSZ

First red day Supernovae. Finished red over 28% last time, so more down side might not be in the cards. If it had fallen much less than 10% then more could be expected as plausible. Always watch day 2 of a busted one. The plan is to play for more reddening on day 2. Conditional entry. A flat, nominally green or red open that immediately sells off on heavy volume or sports traditional confirmed weakness cues is a fade entry. Keep flat on high volume greening or strength, especially early. This is very likely given the big red result of Wednesday. Avoid entries as a short on big gaps up or down, but down is probably worse. Keep flat on consistently strong price action, like trading above the opening price level after the noise candle. Avoid spike up long scalps, too. Buy volume was large, range too. Poor at best short signals but watch it.


MTBC

New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume big Wednesday. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Thursday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, no scalps.



CNAT

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 8.47) and holds. Avoid shorts, keep flat on true weakness. Nice move above 7.75. Needs to keep above the Wednesday close, or at least above 8 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 8.26 are ideal for aggressive entry.



XRX

B/O scan. I like it long back over 7.19 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is not 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 7 on fails after trigger entry is possibly advisable. Early r/g buy?

BVN

Bullish Engulfing. I like this long over 12.05/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 11.78 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



MRLDF

In play both ways. As a long on continuation of momentum above 1.26/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.20/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 1.25. The fade is more likely given the price action on Wednesday, but keep an open mind.



PSLV

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 6.61/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 6.60 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which may mean overt buy interest is now arriving, suggesting reversal upwards may be imminent.



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