Thursday, September 01, 2011

Watchers for the 9-2-11 trading session


Still in play for a possible short despite a fail on what seemed to be a near ideal 1st red day Supernovae print. It can still yield a fade as soon as Friday. Do not top fish, place a stop just above today's high or over the close if more conservative or if it gaps a bit down and begins to dump. Avoid all big gaps and only fade clear weakness cues, such as an early green to red or consistent trading under the previous close and next open.


New Supernovae scan return. A 1 day move up which closed above the open and under the hod. Volume modest 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. OTC stock, caution.


Similar set up as CCSC was for today on over extension. It made and held 10, a natural psychological resistance area. It's a short on a fall fail back under that and holds. Stops just over today's close if it triggers or the high today. Sellers will profit take at a level like 10, which is the idea here. Avoid big gaps and longs. Keep flat on more greening/building upon the 10 level and holds. An early gap up and crap is ideal, too.


A potential long on a B/O above 12.06 and holds. No shorts, keeping flat on enduring weak price action. Avoid big gaps as usual. Basically it needs to take and hold 12 where a lot of recent resistance exists.


Bullish Engulfing. I like this long over the close of Thursday and also the high. Medium volume on the rise, which is a fair 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 just too far away to use for risk control via stops. Must keep above 19.00 to remain viable as a long, 18.30 at worst. Avoid all big gaps or shorts.


B/O scan. I like it long on a continuation play over the close/high of today. Needs to stay above 2.80 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. Huge buy volume today, a poor sign for new longs. Let it test and hold 3/perk up off there a bit first before entering. If it can, it might have a bit more gas left. Up a tad A/H.


Another over extension play that might soon yield dividends. No A/H quote. A stop just over the high today might be the ticket. This is also a fade on heavy volume dumps at or near the open on a scalp short. If 1.40 proves to be a ceiling on the current multiple session upswing, it might work out. Short also on confirmed weakness cues. Avoid all big gaps as usual, and any longs. Not a lot of volume on the rise, a riskier omen.

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