Tuesday, October 11, 2011

Watchers for the 10-12-11 trading session


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 (6.33) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice daily chart price correction. Volume a tad high today for prospective new longs. A bit low on float. Needs to keep above the Tuesday close or at minimum over 6.00 on pull backs to remain viable as a long, aside from any early noise.


First red day Supernovae. Finished down less than 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 modestly likely given the average degree of reddening 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 high, range sorta too. Not ideal signals for new shorts.


See my previous comments, this is still in play on a potential B/O over the trigger level I noted. It got close today, but stopped short. No shorts, keep flat on weak price action. Down A/H to 8, an early gap fill ideal.


Still following this Red floater scan return for a fade play. See my previous comments. Place a stop a bit above 11.68 if you enter on weakening. Avoid longs, keeping flat on positive price action. Honor stops.


Bullish Engulfing. I like this long over the close or the high of Tuesday. Medium volume on the rise, which is a neutral sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is a bit far away to use for risk management via stops, but it's near some support. Must keep above 7.50 to remain viable as a long. No big gaps or shorts. No A/H quote.


B/O scan. I like it long above 9.98-10+/holds. Ideally this stays over 9.50 on tests aside from early noise. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is probably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. No A/H quote.


An OTC under promotion that might have a bit more upside. A cautious long on more inching north and if it holds 1.50 on testing. A stop a bit under the low today mentally at least. Also long on spiking up at or near the gun as a scalp. It's a short on panic sell dumps under today's low if 1.50 fails. The short might be days away yet, so the long is more interesting presently, especially if more fools rush in. Constantly monitor buys!

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