Thursday, April 26, 2012

Watchers for the 4-27-12 trading session


First red day Supernovae. Finished down almost 17.5% last time, so more down side might not be realistic. If it had fallen much less than 10% then more could be expected as plausible. Always watch day 2 of a busted one. The plan is to play for more reddening on day 2. Conditional entry. A flat, nominally green or red open that immediately sells off on heavy volume or sports traditional confirmed weakness cues is a fade entry. Keep flat on high volume greening or strength, especially early. Likely given the big degree of reddening today. Avoid entries as a short on big gaps up or down, but down is probably worse. Keep flat on consistently strong price action, like trading above the opening price level. Avoid spike up long scalps, too. Selling volume was modest, range more imposing. Mixed signals for prospective fresh shorts.


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 (over 11.24) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Thursday, a poor sign for new buys. Needs to keep above the Thursday close or at least over 10.50 on pull backs to remain viable as a long, aside from any early noise. More conservatively, needs to stay over 10.75.


Red floater scan return. Idea is to play for more down side on day 2. Ended down on Thursday via a flat debut that closed below the open after 3 up days. Stops just above 1.62 tops to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Modest sell volume Thursday which means it may have possible chances for shorts. Avoid all big gaps, especially large gap downs. No buys. Ignore A/H quotes.


Bullish Engulfing. I like this long over the high (14.10) 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 arguably not too far away to use for stops. Ideally stays above 13.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. A/H quote.


B/O scan. I like it long back over 4.07 and holds. 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 arguably 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. Exiting below 4 on fails after trigger entering might be prudent. Early r/g? Down over 5.5 % A/H to 3.82 which has seen support several times recently. It's possible a pull back entry here if it holds/perks could be feasible.


A recent, now resurgent, Supernovae that I'm looking to fade on confirmed weakness cues or panic dumps at any time. Analysis is similar to that of GTIM for the session of 4/25/12 so see that for details. Stops above 3, get out on reversals and honor stops. It rose on small volume which means more upside possible. A 3 test and fail is ideal here. So if it takes and holds that above, exit shorts.


I like this long on a continuation (of momentum) play above 2.53 and holds. After that a chart gap appears. Obviously, aside from early noise or a typical red to green move this needs to hold 2.50 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 1%. A weak open with reversal?

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