Sunday, July 24, 2011

Watchers for the 7-25-11 trading session


Despite 2 (!) days straight of lower than the open closes for double virtual 1st red day Supernovae scan returns, this has yet to actually produce a true on or a real red print. After another up day, it can be treated like a maturing one, which means my comments for the 7-20-11 session are in effect for entry/exit/ play management tips. See those here:


Supernovae, still maturing. Buy volume lessening, though. Might pop soon. See my previous comments, they still apply. Patiently stalk this and box to drop to secure shares to fade on confirmed weakness cues, etc.


New Supernovae scan return. A 2 day move up which closed off of the highs and above the open. Volume increasing both days, now huge. 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 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. Keep flat on positive price action, avoid scalping long. No A/H quote.


B/O scan. I like it long on a continuation play over the close of today, or possibly the high. Needs to stay above 2.75 on pull backs to remain viable for longs. Stops just under the close today or the 1st 30 minute low of tomorrow. Avoid all shorts and all big gaps. The low of today is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise today, good for longs. Upcoming 3 test will tell, long over that. It could fail there, but keep on such. Ideal is an early test of this.


This had excellent accumulation volume in the afternoon. The key is a 2 test and hold. Wait for it and keeping above is a long. A fall fail back under is a possible short but I'm flat on that. Avoid big gaps in any direction. A continuation upwards is also possible on some token early weakness and a rapid red to green and holds move. Another long entry on spiking up at or near the gun. No A/H quote. Nice early feedback type of play.


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 (3.16) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. It has tried to challenge 3 several times since April, without sustained success. Needs to keep above the Friday close, which was 3.00 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed negative a bit over 4% on Friday. Stop above the previous day session high (3.30) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Medium level sell volume on Friday which means it might work out well enough. Other resistance near 3.20.

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