Tuesday, March 29, 2011

Watchers for the 3-30-11 trading session


First red day Supernovae. Finished down 20% 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 high degree of reddening on Tuesday. Up nominally after hours. 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, if not price range, was modest. That's not the worst sign for shorts to fade.


Supernovae, still maturing. Almost like a 1st red day one, as it closed lower than it opened, but remained green due to the gap. See the above stock for play management/entry & exit cue clues. Volume on the rise today was comparatively modest, a good sign for shorts circling the waters if they can get the dam to crack.


See my previous comments, going back several sessions, as they still apply. Having taken 2, the wheels seem to have come off for poor shorts. Still it's a cautious all day monitored with finger on the sell button long on positive price action. The best course seems to be the one I outlined last time, which was waiting 30 minutes in to decide fence sitting. This way, early noise can be dealt with. If it gaps up, and consistently prints above the opening price level, that's a good sign for more inching up as a long. Early modest reddening can result in a red to green and holds, so avoid taking that unless it's a morning panic "this is it" dump by the hidden hands that can be short scalped. Also a fade on any such dumps at any time and on confirmed weakness cues after the 1st half hour. What an amazing run up for this stock, which seems to only know one direction in prices!


The analysis here is similar as for ALZM above. See those for play management and entry/exit cues. Volume is declining, but prices are not, at least yet. See also my previous comments, they are broadly applicable. Up about 1.5% after hours. If longing, it will require constant watching. Any dump could lose days of gains in minutes. Ultimately the short on this will be the play to strive for, but patience is necessary to short skillfully.


New 52's. Short term, these yearly high stocks usually 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 and holds. Avoid shorts. Keep flat on enduring weakness. No after hours quote. The 7 test will be critical, whether it gaps over or under. Anything holding over is a long, under is exit or flat. Up after hours over 7, so holding that as support if it opens as quoted will be critical for longs to make a decision on a test.


This is fast approaching new 52's at 20 bucks. Up after hours, even closer to some technical resistance. It might sell off right at or near the open or at the yearly high, which is a fade on fails. An opening dump or green to red after the 1st 15 minutes is a possible short. Or, it might take the high out and hold, for a long. Otherwise, analysis is similar to that of PKD above. Most of trading is waiting for set ups to come to you.


New 52's. Fast approaching a 3 test. Long on a take and hold of that level on volume with acceleration. Some technical support around 2.80 or so. That could prove a pullback entry on perking up off there for a long. Stops can be placed a bit under than break out zone. Analysis is similar here to that of PKD earlier. Keep flat on enduring weak price action. This does not have a chart like VHC does with a past ceiling point.

Unofficially, I am watching MJNA which is a cheapie that is a possible big gap up and crap fade entry. Especially as it is up after hours as well. If it does the same and spikes up a bit first, that can be top fished for the short but it's riskier than waiting for the dump or confirmed weakness cues. It could rise again tomorrow, but I am flat on that kind of price action other than a long scalp out of the open on the jump. Better shorting scenarios exist on this for the patient weakness finder.

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:


No comments: