Wednesday, October 12, 2011

Watchers for the 10-13-11 trading session


New Supernovae scan return. A 3 day move up which closed above the open and under the hod. Volume increasing all days, peaking today. 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. 7.5%+ A/H.


Another new Supernovae scan return, with analysis similar to that for the above equity. Up closes 4 out the last 5 sessions. Volume modest in all cases, unlike the 1st stock. Down nearly 4.5% A/H so be careful about entering without some fill testing and possible failure near 1. A crappy stock, so it should not have longevity.


Volume on the buy side diminishing, so while it may have a tad more, I am no longer long here-even cautiously with constant monitoring. Keep flat on more upside or spiking up at or near the gun. Gaps modest or avoid, unless well up and shorting. That will require top fading, though. Short on confirmed weakness cues or morning panic like sell dumps, at any time. Any fall back under 1.60 should be a red flag for sellers.


Nice daily chart nearing 52's @ 9.06 with a potential B/O accordingly. Once there, it's treatable like any annual high stock like SURG from last time, so see those comments for general tips on particulars. Needs to keep above 8.50 on pull backs to remain viable as a long. No A/H quote. No big gaps or shorts. Also long on spiking up at or near the gun as a scalp.


B/O scan. I like it long above 6. Ideal to stay over that on tests aside from early noise if it triggers. 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. Modest volume on the rise, a fair sign for new buys. No A/H quote.


Bullish Engulfing. I like this long over 5.47 ideally or above the close today. Large volume on the rise, which is a poor 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is possibly not too far away to use for risk management via stops. Must keep above 5.25 to remain viable as a long. No big gaps or shorts. No A/H quote.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed up on Wednesday as a gap doji. Stop above the previous day session high (15) 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. Modest level sell volume on Wednesday which means it might work out well enough. Down trending.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: