Monday, July 09, 2012

Watchers for the 7-10-12 trading session


New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume increasing 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 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 positive price action, avoid scalping long. A 9.50 fail of some kind may prove pivotal. Down A/H a bit over 1.5%


Another new Supernovae, see my comments for the above stock, which this one roughly resembles. This one had a more gradual climb up. It ended north over 28% today though. Volume has essentially increased gradually. A Pinkie, be wary. A 6 fail ideal, honor stops just over today's high or just over 6 conservatively.


Supernovae, still maturing. Scamex issue. 0.75 ideal, see also my previous comments, mostly still applicable. Peak volume again today, so it might not be done yet. Up A/H over 1%. No big gap downs or longs.


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 2.35) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Monday, a neutral sign for new buys. Needs to keep above the Monday close or at least over 2.25 (2.20 at worst) on pull backs to remain viable as a long, aside from any early noise. No A/H quote shift.


Red floater scan return. Idea is to play for more, real down side on day 2. Ended up over 2.5% on Monday via a gap up that closed below the open after many up days. Stops just above 2.02 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. Medium sell volume on Monday which means it may have unclear chances for shorts. Avoid all longs and big gaps, especially large gap downs. No A/H quote change.


B/O scan. I like it long back over 1.59 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. Low volume on the rise, a decent sign for new buys. Up A/H a bit over 0.50%. Exiting below 1.50 on fails after trigger entering might be prudent. Early r/g buy?


I like this short on over extension on a gap and crap top fish or better a fall fail back under 1.50/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than seems rational; it would not surprise me if it overtakes 1.52+ and keeps going a bit. Stops above Monday's high (1.54). Increasing volume. Pinkie, caution. Honor stops.

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