Sunday, May 01, 2011

Watchers for the 5-2-11 trading session


1st red day Supernovae. Finished down 65% last time, so more down side might not come. If it had fallen a lot less than 10% then more could be expected as likely. Always watch the 2nd day of this kind of explosion. In this case it's up over 28% A/H so the situation is in a state of flux as to which way we are going. If the bounce has already been priced in it MIGHT distribute some more tomorrow, but you never know. A live price action situation, where the play will probably come sometime after the 1st half hour. My guess is we might see more exiting on this bounce, which might yield a fade entry. The long might be later on in the day, possibly testing 5 bucks. Sell volume and price range was huge. That's not the the best sign for shorts to fade.


First red day Supernovae. Finished down 30% 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 Friday. Down a bit A/H. 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 and price range was big. That's not the best sign for shorts to fade into.


Another initial red day on a Supernovae. Comments and analysis are very similar to that of the above stock. See those for entry/exit/play management tips. Fell over 43% on Friday, on large volume, but it may have a bit more reddening. If not, keep out. No change in the A/H quote, though, here.


Yet again, see my previous comments on this. Little has changed in terms of entry/exit play management ideas. A gap down ruined the best scenario, but the fill makes it on again. Now at new 52's above 19.90 the critical 20 level for break out or sell off there is at hand again. No A/H quote. Long on a take and hold of 20 with volume and short on distribution there as the ceiling. A gap over that holds and perks off 20 if tested is a long as well. Avoid all big gaps. Another good sign for potential breakouts is the low volume on the rise Friday.


Spectacular move on Friday. Up A/H another 2%+ and I expect more at or near the gun on Monday to long scalp on spiking up, with a longer play depending on how well it holds up. A possible strategy would be to sell half of the position if it continues to advance on smaller range candles slowly. If it dives early or out of gate, a pull back entry is possible long near holding support at 1.15ish. No shorts, keep flat on clear diving.


This coffee's hot, and in the news lately. 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. Down a bit A/H which could help with one of the above entry scenarios. Nice B/O and volume.


In play both ways, depending on how it reacts to certain technical levels. A live price action call for fence sitting. Some support at 0.70 so a fail there on more reddening is a fade entry, with a stop just over that or the hod tomorrow. Also possible is bounce there on grounding and perks up off that same area. I am hoping for the long since it has come down so far already and borrows are unsure. Possible scalp up long on spiking up at or near the gun. The volume on the dump Friday was not small but not insane, so be patient on dips.

Off table, keep watching LOGL for more inching up. It's like watching paint dry, but swings are happy with the dull ride since we crossed the 2 barrier. LEE has distributed for like a million sessions straight, sell volume is beginning to wane, so a possible bounce might be in view. Near tweezer bottoms at 1.40 have been put in, and if that holds and it perks up off there, it might be longed, or scalped north on spiking up at or near the bell. This is just a waiting game to time the accumulation day print. A stop can be placed using the tweezers.

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