Thursday, October 06, 2011

Watchers for the 10-7-11 trading session


Supernovae, still maturing. See my previous comments for general entry/exit/trade management tips. Most are unchanged. Volume is still strong, but it weakened intra-day. Be patient, and only enter when it falters clearly.


New 52's. Short term, these yearly high stocks often 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 (above 0.75) and holds. Avoid shorts, keep flat on true weakness. Price correction on daily chart. Volume on the move up big, which is a weak sign for new longs. Needs to keep above the Thursday close or at minimum over 0.70 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


In striking distance of a potential B/O above 3.50 and holds. Channeling up and down to almost but not quite take and keep that level onward to 4 and hopefully back into a big chart gap eventually. Long over 3.50+ or on spiking up at or near the gun as a scalp. Avoid shorts or big gaps. It could easily stall out yet again at the above key level. Low volume rise day, a good sign for new buys.


B/O scan. I like it long on a continuation play above 4 and holds. Needs to stay above 3.80 on pull backs to remain viable for longs. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is possibly too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a decent sign for new buys. No A/H quote. Having an important (psychological or chart backed) level nearby is a plus.


Bullish Engulfing. I like this long over the high of Thursday. 6 is the ticket to eclipse. Low volume on the rise, which is a decent 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is possibly not too far away to use for stops. Must keep above 6.00 consistently to remain viable as a long. Avoid all big gaps/shorts.


Long above 5.28 and holds. Possible early red to green move off weak debut. Nice consolidation break and modest volume on the rise, which is a plus. May see another day of accumulation. Down a bit over 1% A/H. Avoid all big gaps and shorts.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed below the open down a bit less than 3.5% on Thursday. Stop above Wednesday's session high (8.81) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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 Thursday which is neutral at best for new fades.

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