Thursday, September 15, 2011

Watchers for the 9-16-11 trading session


New Supernovae scan return. A 4 day move up which closed above the open and under the hod. Volume small most 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 Friday 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. Drug test/approval catalyst.


New 52's. Short term, these yearly high stocks often 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 (11.04) and holds. Avoid shorts, keep flat on true weakness. Nice chart. Volume on the move up medium, which is a neutral sign for new longs. Needs to keep above the Thursday close or at minimum over 10.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed below the open but up 0.5%+ on Thursday due to a gap up. Stop above the previous day session high (1.90) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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. Big level sell volume Friday which is not optimum for fades. Respect stops.


B/O scan. I like it long on a continuation play above the close or high of Thursday. Needs to stay above 1.50 on pull backs to remain viable for longs. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Sizable volume on the rise, a weak sign for new buys. No A/H quote. Outlook seemingly promising if this can get/keep going.


Bullish Engulfing. I like this long over the close of Thursday and also the high. Decent volume on the rise, which is a tepid sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote. Stops just under the low last time or the initial 30 minute one on Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is probably not too far away to use for risk control via stops. Must keep above 10.00 to remain viable as a long. Avoid all big gaps or shorts.


I like this long above 6.81 on a continuation of momentum. A chart gap exists @ 7.40 which would be nice to step into and hold soon. Avoid shorts and all big gaps. Also long on spiking up at or near the gun as a scalp.


This appears to be under some real promotion. Up A/H over 2% but I'm looking to fade into fall fails back under 3 and holds, which could happen anytime after the noise candle. Also a short on panic dumps at or near the bell. Avoid all big gaps. We need to test the key level successfully before entering unless it gaps up and craps or peaks early by the greater fools showing up to buy what might be tossed away in droves. You would have to top fish that, which is usually a bad idea but less risky when real dumpers are already in.

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