Monday, October 24, 2011

Watchers for the 10-25-11 trading session


See my previous comments, mostly still applicable in terms of entry/exit/play management tips. Oversold even more, and sell volume drying up, so hopefully a bounce is coming soon to bottom fish. Use today's low or the initial 30 minute one Tuesday for stops just below there, or conservatively use the close today if a play arises.


New Supernovae scan return. A 1 day move up which closed below the open and under the hod. Volume light 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 Tuesday 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. A break away gap that closed up big not a true novae play, but with firm investigation news perhaps some profit taking awaits soon.


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 (6.65) and holds. Avoid shorts, keep flat on true weakness. Nice daily chart price correction fill. Volume strong today, a suspect sign for new buys. Needs to keep above the Monday close or at least over 6.50 on pull backs to remain viable as a long, aside from any early noise. Once it took 6 resistance it soared.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed flat on Monday but below the open via a gapper. Stop above the previous day session high (12.95) to cap losses on head fake fade entries. More conservatively, stop above the close on Monday 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. Get out for sure on 13+ moves and holds if shorting. Medium sell volume today, a neutral sign for new shorts. Avoid all big gaps and longs.


B/O scan. I like it long above 5.90. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is 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. 6 test into earnings.


Bullish Engulfing. I like this long over the high of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is likely too far away to use for risk management via stops. Must keep above 3.25 on pull backs to remain viable as a long. No big gaps or shorts. No A/H quote. 3.50 test will be key.


I like this long over resistance @ 14 and holds. 3 White Soldiers with modest volume might B/O soon. Up a tad A/H. No shorts or big gaps. Possible early red to green long entry off opening decay. If it triggers it needs to keep above 14 consistently. Also long on spiking up at or near the bell as a scalp. Potential swing play.

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