Tuesday, June 07, 2011

Watchers for the 6-8-11 trading session


First red day Supernovae. Finished down less 4.5% last time, so more 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 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 less likely given the modest degree of reddening on Tuesday. No A/H quote. 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 light, price range modest. A decent sign for potential gravy fade.


See my mostly unchanged comments from last time. Volume tapered off significantly but it still closed green. Potential over extension fail at or back under 0.16 or strong price action early and often for a long. No bias.


I like this long on a hold and acceleration of prices over 4.50 and short on a fall fail back under. This was an area of some resistance that it overcame today on very strong volume. Perhaps it would have been better for longs if the volume had been a bit more restrained in the advance. More technical resistance overhead at 4.73 to take out or sell off at. Long over that. I hope the short scenario of the 1st level mentioned is it, but no bias.


This is really in need of a break and some profit taking. An old favorite that has some resistance at 0.20 overhead that I want to fade if it over extends. Keep flat on more greening, which is still possible. Short on confirmed weakness cues or heavy volume selling. Ideally, no red to green move occurs and it soon falls under the close of today and the open of tomorrow, or it dumps at the above ceiling on the daily chart. See also: http://www.hotstocked.com/article/10751/ecoblu-products-inc-otc-ecob-climbing-up-above.html


Decent B/O that might see a continuation for longs tomorrow on consistently strong price action, like staying above the close of today and above the open after 5 minutes of trading. Long on that. A pull back entry is possible if it tests and holds 3.50 which is the punctured level. No shorts, keep flat on fails of the old ceiling. Of course, if it holds the close today essentially, that is also a long or on spiking up at or near the gun.


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. No A/H quote. Avoid shorts, keep flat on true weakness. Really strong buying into the close, fueled by a news catalyst. We need to keep above 3.60 at worst for longs to prosper, a pull back entry note.


Bullish Engulfing. I like this long over the close of Tuesday or better yet the high. 18 test and hold would provide more confirmation. Medium volume on the rise, which is not a bad sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote change. Stops just under the low last time or the initial 30 minute one on Tuesday. More conservatively a stop placed under today's close, too. Since the low of today is too far away, I'd suggest the conservative stance or the 1st half hour one of tomorrow. It could fail at 18 but I am flat on that on a test. It's the critical test for longs, I hope it comes early.

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Влад said...

Hi, what resources are using in the selection of shares, thanks ...

Regards, Vladislav

Big T said...

I use a number of services, both paid and unpaid. Stockfetcher is one of the best, my main route with predefined custom user written scans, but it's fee based. Fin Viz is a possibility, with both fee and free plans I think, etc.

Big T