Sunday, April 03, 2011

Watchers for the 4-4-11 trading session


See my comments for last time, they still apply on the 1st red day (in effect, not actual) Supernovae scan return. A trading halt occurred pending news. It never reopened. It might as soon as Monday, hopefully by the bell. Keep an eye on it and its news constantly during market hours for resumption. If the news is good, it might open and rise, but usually halts have a way of making people sell on principle in panic as a herd. Since we are waiting to short this anyway, that would be good, though getting an order to fade before it loses too much of its price level might be a challenge. Wait to see the headwinds upon resumption to fence sit on this.


First red day Supernovae. Finished down over 8.5% last time, so more down side might not be as 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 Friday. Up big, over 18% after hours. That means we might not get our typical 1st red day type of down side. It might run some more now. Wait for a fail. 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 large. That's not a great sign for shorts to fade.


Again, see my previous comments and for the last week or so that this has been on scan. Things have not changed much. It is still a cautious long (with constant eye) on strong price action and a short on morning panic like dumps at any time or confirmed weakness cues. Nice run so far, but several days worth of gains could easily fall in minutes once the fix is in on something like this. Some slippage on a scalp might be needed.


Great volume into the close. Nice support which was previous resistance at 2.40 to employ stops or use in a pull back entry on the break out if that level holds. Another resistance area from 2.55 to 2.60 exists that it might perk off of as well if it holds as new support. I like this long on strong price action or otherwise printing above the opening price after the first 5 minutes. Or an early red to green move. Keep flat on real weakness.


Seems like old times for this former pump. Way to cheap for me but curious volume and rise of almost 69% might mean some inching up and possible re-pumping is afoot. If new spam was sent over the weekend, it might have more. Not sure if and when any snailer is involved. No obvious news, though. I like this long cautiously with constant monitoring if it sports positive price action, like a gap up and go to inch up after 5 minutes of trading. I just saw this: so maybe it continues Monday. Another one by OTC Tip reporter was uncovered. Both of these might just be "me too's" and not real promotion, though. Not interested in a fade play yet here so I'm flat on weak price action.


Another cheapie I am watching with Bullish Engulfing. Nice support at 0.20 for stop loss strategies or as a pull back entry guide on a test and hold and perking up off of. Another idea is to go long once the high of Friday is taken out. This can happen a couple of ways, if it opens a bit down and goes over that high in possible red to green move, or if it opens flat. If it gaps over that high, it would probably be best to wait for a test of it as new support before entry. You can keep out of any fail below 0.20 or fade it, since that is its yearly low level.


New 52's. Spent a number of months under a dollar. 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. Nice volume on Friday. No really close support means limited long options.

Unofficially, I am watching: INHX as this finally managed to break through resistance at 3 recently and very convincingly. It's a yearly high play with analysis similar to that of DYNT above. DAC is also at new 52's and very near at a psychological selling point at 7. It can be longed on a gap over and a test of 7 that holds, or a break though from below on a flat or gap down debut that holds and accelerates on volume. It can be faded on a fail at the 7 level on profit taking dumps.

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