Sunday, June 26, 2011

Watchers for the 6-27-11 trading session


A rapidly maturing Supernovae play. Volume still strong, so it may not be done, but it is declining a bit. Do not top fish and avoid longs, boxing and dropping if need be to obtain shares. Fade on morning panic like dumps probable scalp) at any time or confirmed weakness cues for a longer hold. Best is a nominally up or down or flat debut that heads south after the noise candle. Avoid all big gaps. An early green to red will do.


I am treating this more than doubler essentially like a 1st red day Supernovae, due to its 5 day return, etc. Gapper closed lower than it opened but still positive thanks to that. Finished up over 2.5% last time, so some down side might be realistic. If it had fallen much more than 10% then less could be expected as plausible. Always watch day 2 of a busted one. The plan is to play for real 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 probably less likely given the positive close on Friday. Up over 1.5% 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. Selling volume was medium strong, while the range was fairly modest. A moderately promising sign for shorts.


Very interesting volume into the close on this. I like it long on a continuation play over the closing price of Friday. Must keep above that or at least over the low of last time to be/remain viable as a long. If skeptical one can enter above the high on Friday, but the profits will likely be less even if it works. Keep flat on real weakness, aside from a typical early red to green move, which might be longed. Choppy, so be careful. Stop placement just under the close last time or the low. Or, just under the 1st the 30 minute low next time.


An interesting chart with seeming (huge) climax volume on the distribution print. Clear recent (and going back a few months) support at 7.50 which means aside from noise, we might be able to go long near just over there if it tests and holds, since it closed several cents above the presumptive floor. Also possible is a fall fail under as a short, since it has been a clear floor point recently, but I'm flat on that. Long also on immediate or near bell spiking up, possibly as a scalp. If dip buyers arrive, it might be a play. Stops under the close Friday or the low, or use the initial 30 minute low of Monday. Several mostly red sessions heading into it, a good sign.


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 (8.38) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice closing move to make a new annual top price, with big volume which is not an ideal sign for new longs. Needs to keep above the Friday close or at least over 8.00 on pull backs to remain viable as a long, aside from any early noise.


Another yearly high stock with similar analysis and daily chart to the above equity. See those comments for entry/exit/ play management tips. Closed on hod. Here, new annual highs are at 8.91 and it needs to keep over 8.50 on pull backs to remain viable as a long, aside from any early noise.


Approaching a 3 test. Big volume Friday as it closed a cent under. It would have been more optimum if the volume on the rise had been lighter. Spiking up at or near the gun is a long if it takes and holds 3 on volume. An early red to green long is possible, too. Avoid any big gaps. The best outcome is a nominally up or down or flat debut that slowly rises, early on erasing 3 and sustaining to go long into. Keep flat on fall fails at 3.

Off table, I'm watching IHCH for a possible fade play following Friday's 300% up day. Filings indicating good earnings related internals non withstanding, as claimed in one blurb, it might see more profit taking on Monday. I'm flat on more obvious upside oriented price action.

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