Wednesday, April 06, 2011

Watchers for the 4-7-11 trading session


Brand new Supernovae scan return. Low volume riser, and it closed well off of the highs. This probably sneaked up on a lot of people, with its 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 Thursday 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. No after hours quote.


Another brand new Supernovae scan return, with comments similar to that for GSDC above. See those for details on play management and entry/exit cues. This one was on my unofficial list, up on news, and is rapidly becoming a great potential short.


Just like on other inchers, once the spell is broken or initially breached, the way is paved for potential additional down side action to fade into. Conditional entry. Watch this tomorrow, if it opens on a gap up and resumes its march up, keep flat. Sustained positive price action means keep in cash. If it opens on a gap down, wait a moment to see if it starts to fill, or just morning panics down on volume, which is at least a short scalp. This might involve some slippage to participate, so be warned. If it keeps going, a longer period until covering is a consideration. A gap up and crap at once with a green to red is a potential short as well. A flat open that immediately heads south is also a short. A lesser gravy red session is often possible in such cases.


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 key here is 9.50 on a test or rather retest. It busted back through 9 convincingly, and hit over this key psychological level, but closed back under. I would prefer it to retake and hold the key level to enter the long, or a pull back entry on a 9 test that solidly holds and retools back upwards.


This one surged up almost 252.5% on news that are going to install and operate Mobile Water Treatment Systems in Japan to help with the nuke reactor contaminated H2O problem. This might have early "why not me?" legs to it to scalp long on spiking up at or near the gun tomorrow. If it holds up, it might be held as a day trade. Another live price action call as it's also quite possible they profit take this at once which can be short scalped on what will soon become a faddish, overdone move. This kind of hype will yield a short, but be patient to avoid getting burned. Chase the ambulance, do not get run down by it.


Big volume, no obvious news, no obvious newsletter mentions, but it soared. Possible rumor mill, or maybe someone knows something we do not, but with such information you cannot simply assume such. Daring folks could consider a scalp long on spiking up at or near the gun if more idiots arrive, but I would keep flat on that. I am looking to fade this on heavy volume sell dumps whenever they arise or confirmed weakness cues. I cannot assume this continues to rise without a catalyst but will only enter with blood in the water. If it opens a bit up or flat and heads south or red, that is a possible short. Any serious long is out without a known cause.


Another 52 week high, this one has entry/exit/management tips along the lines of SIMO above. I like it long on a gap fill (it's up after hours a bit) and hold of the flat line with perking up off of it, or a move below and an early red to green move to buy into. Another good early feedback chart, this one is heading for a 6 test that might be profit taken there and provide conservative longs with a confirmation of going in. If it sells off there I am flat or exiting, not short. If it takes and holds 6 with volume, that is a long, too. I like nearby clue levels.

Unofficially, I also like CRIS which is similar to BLTI above. Its feedback point of psychology is a bit further off, so less desirable, but 4.50 could be tested for more upside or a sell off. Watch this one as well for upside.

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