Saturday, October 29, 2011

Watchers for the 10-31-11 trading session


New Supernovae scan return. A 5 day move up which closed above the open and under the hod. Volume small most days, huge on Friday. 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 Monday 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. Reversal soon.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed down on Friday a bit over 1.5% from a flat open. Stop above the previous day session high (8.71) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday 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. Low sell volume on Friday which means it might work out well enough. An 8.50 fail would be ideal, it held last time. If it goes it might have bit more still for shorts.


Now that this has taken and held 2 thus far, it's a monitored long on the same inching price action described last time, or on a pull back entry that tests and holds the magic number above. Volume stronger daily. Fade only on a fall fail back under 2, which is possible and might erase several days worth of gains quickly. Not much chance of scalping long on spike ups, but some chance of the reverse if it panic dumps under 2.


See my previous comments. Now on my official list, this Pinkie up on a big buy-in will be ripe for shorting soon. Do not try to top time this, though. Fade only on confirmed weakness cues or panic dumps. No longs.


B/O scan. I like it long above 9.90. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday 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 decent sign for new buys. No A/H quote. Resistance at 10 which if overtaken might mean more gains are in store. If it gaps just over, test/perk off to enter, ideally.


Bullish Engulfing. I like this long over the high of Friday. 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. Stops just under the low last time or the initial 30 minute one on Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for risk management via stops. Ideally keeps above 13 on pull backs to remain in the play long. Hammer on the day prior. No big gaps or shorts. No A/H quote.


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 (9.51) and holds. Avoid shorts, keep flat on true weakness. Nice daily chart with price correction move back to 9.50. Volume medium today, a neutral sign for new buys. Needs to keep above the Friday close or at least over 9.25 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.

Off record, 2 interesting charts are BIOF with curious volume on this with a very modest range on Thursday and very big volume. More range Friday and a lesser degree of significant volume. Resistance at 0.40ish. Fails there suggest a short while early/at bell spike ups might be buy scalped or moves over resistance. ZLCS has a nice move off 1.00 in a classic B/O and a complete life cycle on the yearly back to a buck and off. Long in a partial position over the close Friday and the other portion above the high.

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: