Tuesday, March 15, 2011

Watchers for the 3-16-11 trading session


See my comments from last time, as they still mostly apply. Now a maturing Supernovae, biggest volume yet on the rise. Down after hours, the gap fill and r/g is a possibility. I am waiting to fade clear weakness cues.


First red day Supernovae. Finished red by nearly 38% last time, so more down side might not be realistic. 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 more likely given the heavy degree of reddening on Tuesday. Up 2% after hours, which is alright. 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. Avoid spike up long scalps, too. Sell volume was huge, which is not good news for shorts.


Another 1st red day Supernovae. Analysis for entries and play management is similar to that for CYPW above. This one fell a lot too, 27% so second day gravy redness is less likely to pan out well. One always watches day 2 of a popped one, anyway, just in case. At least the sell volume was large but not huge. No after hours quote that I can see.


This continues to inch up, and it is heading for a fall day of significance to short into on clear weakness only. Until then, it keeps advancing. See my comments from last time they still largely apply. Another possible early red to green might be longed and watched constantly with a hand on the sell button or mouse. Also a long on consistently strong price action. I am less convinced of longs after a few days of greening, so I would personally be inclined to focus more on the eventual dump session for a fade entry. It's in play both ways.


Now on my official list from a bonus pick, please read again my comments from last time, which are mostly still applicable. I am still skeptical of longs, even more so after a 2nd day of irrational exuberance. I am flat on consistently strong price action, but some brave souls could consider scalping long on spiking up from or near the gun. Obviously the fade entry when it comes on confirmed weakness cues or morning panic style dumps is the angle I am hoping to work. The news catalyst apparent can only take it so far before profit taking ensues.


I am hoping this amazing craziness can continue at or near the gun for at least a long scalp on spiking up at or near there that occurred today. A longer hold or even an OED exit depending on how it holds up. Be ready to bail on just the scalp when it begins to peter out, if it indeed spikes early. Not clear on why it advanced over 126% today. Promotion maybe? This Pinkie is also a short on confirmed weakness cues or morning panic style dumps whenever they arise. It's hard to trust this move, so shorts might get a chance Wednesday.


A Bullish Engulfing play which was one of the only Nuke stocks to rise nicely of late. It is being speculated on in light of the situation in Japan over their reactors. Long on consistently strong price action or an early red to green move. A stop in theory a bit below the low today. Longs can enter once it takes and holds a price above the close today or above today's high. It's timely and faddish, so be careful. It depends in part on how bad things go in Japan on an hourly basis in containing the radioactivity, etc.

Off table, TDCP is a cheapie I am watching for more upside in the form of a spike up at or near the open to long scalp into. Not into a longer hold here most likely. It could as easily dump hard during that time, so it's also a fade on clear weakness cues or morning panic style dumps on volume. A live price action situation. A hod closer, it might gap and crap to provide the red action. I suspect a shorting opportunity is a longer hold.

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