Tuesday, April 12, 2011

Watchers for the 4-13-11 trading session


Again, see my previous comments, they still apply for longs and shorts. By today though, it's so insane that it's hard to see how this just keeps going on forever. Taking profits if long for a spell now might be prudent. One day ( I know, I know, I have been saying that for like forever it seems!) it will come crashing down in minutes, erasing gains of several days. When that happens, it's going to be great short, but not before. Long exits might require some slippage, and short scalps on a dump will, too. Biggest volume yet, is this near the end?


Failed as a down side gravy 1st day red Supernovae play, but I think the response was weak, so most of my comments on entry/exit and trade management still apply. See those for details, treating today like it never happened. The volume was mediocre at best, and it did not advanced much or post a big candle body.


Again see my previous comments, which still are in force, for entry/exit play management tips. Each day this advances longs get riskier, but this being an insane market, you have to respect the up direction as long as the trend holds. Closed on the hod with the most volume ever, but longs will have to be watched live constantly. The dump print will be a dandy when it comes, but do not fade unless it demonstrably weakens lastingly.


Brand new Supernovae scan return. Low volume riser initially, and it closed off of the highs. Volume has picked up a lot. This probably sneaked up on a lot of people, with its moderately gradual rise. 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 Wednesday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues 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, avoid scalping long, this is not the 1st day it has gone well up. Up about 1% A/H.


New Supernovae scan return. Gained nearly 114% on huge volume on its Google deal. See my comments for JBII above, for entry/exit/play management tips, they mostly apply here as well. One caveat is this has gone up over 1 day, so it might still have a long scalp at or near the gun in it to play tomorrow if it spikes up.


Red floater scan return. Closed south outside its upper Bollinger Band. It closed lower than the previous session, but only by 3.5% or so, making it fairly ideal as far as a possible candidate of this type. The idea is to play for more down side on day 2. Avoid longs & big gaps, keeping flat on more greening cues. Short only into confirmed weakness cues or heavy sell pressure dumps. Ideal is nominally green or flat debut that decays.


Low float equity that has had some interesting volume and moves the past 3 days. It could keep squeezing higher. It might also gap and crap and yield a fade, with heavy dumping at or near the bell. That could be scalped short. I like it long on continued positive price action. Biggest volume yet on the rise. Needs to keep above 2.50 to play any pull back entry. These types of plays have a tendency to squeeze over eager shorts.

Unofficially, I am also watching IDIX which, although not a low float stock, might test 4 for the longs. You could fade a fail there, too. It closed on the hod and advanced on relatively modest volume, which might allow it to continue to excite longs. A gap in the chart fills at the above level, which is another thing to keep in mind.

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: