Monday, April 23, 2012

Watchers for the 4-24-12 trading session


Supernovae, still maturing. See my previous comments for general tips on entry and management. Rose almost 38% today. Peak volume, so it might not be done yet. It's gonna be an awesome fade soon, though.


New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume small for many 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 anytime 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 up price action, avoid buy scalps. A/H +11%.


B/O scan. I like it long back over 1.75 and holds. 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. Medium volume on the rise, a tepid sign for new buys. Exiting below 1.69 on fails after trigger entering might be prudent. Early r/g? Up over 4.5% A/H.


I like this long on a continuation (of momentum) play above 2.80 and holds. After 2.95 a chart gap appears. Obviously, aside from early noise or a typical red to green move this needs to hold 2.65 if tested to remain/be viable as a long. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness or trigger fail. Avoid all big gaps, as usual. Up A/H a bit over 2%. A weak open with reversal?


Bullish Engulfing. I like this long over the high (18.25) of Monday. Modest volume on the rise, which is a fair 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 not too far away to use for stops. Ideally stays above 18 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.


What a ride! The beat went on and I am still waiting to fade this on the inevitable dump. See my previous comments for the past few sessions, little has changed. No more longs. I know, that left/leaves $ on the table. It might peak out at 2.50 as they gotta take profits sooner or later. Every dip has found support so far.


I like this for a top fishing short. It's up over 5% A/H to 6.74. A possible fall fail sell back under 6.50 as well. No more longs. Also a fade on confirmed weakness cues. Sell too on panic dumps at any time, especially at or near the gun or in the afternoon/close. Avoid all big gaps. New 52's but overdone.

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: