Thursday, May 24, 2012

Watchers for the 5-25-12 trading session


Again, note my previous comments. A dandy short, acquisition or not, awaits here. Admittedly longs made a fortune on the 1000% rise over the past week. A fail back under 16 would be ideal. Stops cannot use the high today, it's way too wide. Peak volume hit today. Panic dumps in the morning or afternoon are fades. Reminds me of MXC several years ago. That one went from 5 to 40+ in short order. No longs, do so at your own risk. One heck of a maturing Supernovae this is!


New Supernovae scan return. A staggered move up which closed under the highs and above the open. Volume modest most 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 Friday 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 positive price action, avoid scalping long. Up over 4.5% A/H. A 6  or 5.50 fail of some kind may prove pivotal.


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 12.23) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 12 on pull backs to remain viable as a long, aside from any early noise.


B/O scan. I like it long back over 1.74 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 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 fair sign for new buys. Exiting below 1.70 on fails after trigger entering might be prudent. Early r/g? No A/H quote. 


Bullish Engulfing. I like this long over the high (19.91) of Thursday. Modest  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. 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 stops. Ideally stays above 19.71 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.  


See my previous comments. Still in play for a bounce. Stop just under 0.75 and long above 0.81/holds.


See my previous comments. Still in play both ways but the over 12/holds is looking ever more possible. A live price action call based on over/under12. Up A/H a bit over our key area. Early red to green possible.

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