Wednesday, September 28, 2011

Watchers for the 9-29-11 trading session


New Supernovae scan return. A 3 day move up which closed above the open and under the hod. Volume increasing 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 Thursday 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. Ripe for a drop soon.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed below the open down 0.5% on Wednesday. 4 previous days up until last time. Stop above Wednesday's session high (6.08) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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 Friday which is neutral for fades.


See my previous comments on this current bottom fishing play, which finished unchanged on Wednesday. It opened on a gap up that filled. Get out under 3.40 if it greens and you buy. Or, be sure that as a floor holds.


Bullish Engulfing. I like this long over the close of Wednesday and also the high. Low volume on the rise, which is a good 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is way too far away to use for risk control via stops. Must keep above 0.90 to remain viable as a long. Avoid all big gaps or shorts.


This had a really big day today, and I like it long above 1.41 and holds. Avoid all big gaps and shorts. Place stops just under the close today and no lower than a tad under 1.25 to control risk. Or use the initial 30 minute low tomorrow. Also a long on spiking up at or near the bell as a scalp. Modest volume today is a plus.


B/O scan. I like it long on a continuation play above 2.62 and holds. Needs to stay above 2.50 on pull backs to remain viable for longs. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is possibly not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Strong volume on the rise, a poor sign for new buys. No A/H quote.


Bearish Engulfing. I like this short under the close/low of Wednesday. Modest volume on the rise, which is a fair sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. No A/H quote change. Stops just above the high last time or the initial 30 minute on on Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is possibly not too far away to use for risk control via stops. Must keep under 1.24 on any pull ups to remain viable as a short. Avoid all big gaps/longs.

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