Thursday, November 10, 2011

Watchers for the 11-11-11 trading session


Supernovae, still maturing. See my previous comments in terms of entry/exit/play management aspects, mostly still applicable. Volume declining, but still decent. Fade only clear weakness, and respect stops. Use today's high or the initial 30 minute one on Friday for placement. Avoid big gaps and longs.


B/O scan. I like it long above 6.09. Ideal to stay over that on tests aside from early noise if it triggers. 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Large volume on the rise, a suspect sign for new buys. Resistance at 6 is clear on the daily chart, so some could fade on a fail there, but I'm only a long if it sets up. No A/H quote, avoid all big gaps. 1/2 position possible for above 6/holds and the remainder over the trigger level given.


Bullish Engulfing. I like this long over the high of Thursday. Small 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for risk management via stops. No big gaps or shorts. No A/H quote.


Red floater scan return from a failed B/O watcher. Idea is to play for more, better down side on day 2. Closed down on Thursday close to 3% off a gap up. Stop above the previous day session high (5.44) 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 buy volume on Monday which means it may have only average chances for shorts. 5 fail would be ideal, it held today. If it goes it might have bit more still for shorts. Down over 1.5% A/H.


Anticipating a possible B/O on this one. Consolidating price action since a big green day on the 4th of November. Reasonably modest float. Long on spiking up at or near the gun (scalp) or on sustained moves above 11.46 then 11.80+ etc. 1/2 position possible on the 1st trigger, the other on the 2nd one. Possible early r/g long. Avoid all big gaps and shorts. No A/H quote. Do not enter ordinary longs below the triggers.


See my previous comments, mostly still applicable for entry/exit/play management aspects. The danger is that this is consolidating now, and might move higher. A recent Supernovae, both red days were sufficiently nominal that it might have a solid down day in it to come. Buy volume and sell are uncomfortable modest. Only fade confirmed weakness cues or panic dumps, keep flat on greening and don't top fish it. Honor stops.


I like this long above 9.75 and holds. Up a tad A/H but below the trigger. Lots of momentum and volume to the upside here. No shorts, or big gaps. If it gaps over the trigger, let it pull back to test/hold before entering. Recently overtook the 200 day simple moving average from below, currently at 8.52. That's a hard floor. Short term, use today's close or low for stops, or the initial 30 minute low tomorrow.

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