Wednesday, May 11, 2011

Watchers for the 5-12-11 trading session


Because this has technically speaking weakened and printed red, albeit modestly, it's in play both ways now. If we gap nominally up or open flat and advance, or sport initial weak willed reddening and go green early, it's a long on resumption of inching (with all day monitoring live of course!) with consistently strong price action. A dump on heavy volume, especially early, is a fade entry. This is a lot more likely given how close we are to the previous highs following the 2 dump candle day prints. Also a short on confirmed weakness cues. You will not know which side of the fence to sit until you see the open and early action tomorrow. Obviously if we take out the previous high all bets are off and it might keep going and squeezing.


A rapidly maturing and stubborn Supernovae. I am still flat on any consistently strong price action at this point. It's going to be a fine short once it dumps. Conditional entry. On a higher open, it might yield a rapid green to red on Monday 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. Down a bit A/H. Wait for a gap fill and fail if this holds up, unless it spikes down and you want to scalp fade it. This has really squeezed shorts, with more staying power than would usually occur. It might gap over 5 and fail to provide the entry short, or just fail on an approach as a ceiling. Watch 5 bucks.


See my comments from last time, they are unchanged given that we are still close to the B/O level and might see another try tomorrow. A test and fail there is still a short, but I want to play the B/O and new 52's more.


Well lo and behold, the gift that keeps on giving. This time, with similar key level analysis as last time (see my comments here for the previous session) we broke above 4.50 which is our new technical reference point. Big volume today means it might have shot its wad and may not survive a test of the recent ceiling. You can see the resistance from March. If we take and hold 4.50 this is a long, but I suspect we either gap over and fall under and holds to fade or fail on a flat or nominally down open that just dumps or dies at the roof. I think shorts would have more confidence that longs at this point on tests that trigger entry signals.


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. Up A/H about 2% so you may have to wait and see if 4.86+ holds. A low volume B/O over days which is a good sign going forward for longs assuming it sustains over the key technical level of 4.86ish. Earnings released on the 10th. Pullback entry if it tests and holds 4.86+ perking up off there. Just a continuation play, not a deep price correction over many weeks. Also it will be critical to observe with regard to an upcoming 5 test if it can keep going on better volume.


Gigantic price gap in chart on February 15-16. I like this long over 2.30 into that gap which might keep going a while. I also like it as a fail there fade. Up about 1% A/H so the test might come tomorrow. This is a bogus firm so at or near bell dumping is a fade as well. The best play by far either direction involves our test. Stop placement is easy, too. If you achieve lift off (long or short) just use the key level a few cents above or below or work with the morning high/low, if applicable.


Potential long over a regaining of the 50 day SMA @ 4.57-4.60ish. Only in this on the B/O and flat on any consistently weak price action or tepid meandering. If youive ever seen the cheesy "" ads on CNBC you might recognize this as a price channel that is nearing the top, implying a try for a prison break.

Too cheap to be on my official list, keep watching SFIO for a dump print. It's chart is awesome, save for the share price and Pinkie status. I hope it panics and loses control of 2 cents. Flat on more upside character. TISA is an enormous gap up yearly high stock with analysis similar to SCLN above. Earnings wow catalyst. CHBT has some momentum and is nearing a 12 test. It's a correction cup over a few months that might B/O over 12 strongly or sell off there for a fail fade. It's possible another day or so might be needed for the test.

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