Thursday, July 05, 2012

Watchers for the 7-6-12 trading session


Again, see my previous comments. Really over done now, it rose on declining volume today. Anything under 1.75 might suffice, or confirmed weakness cues/panic dumps at any time. No buys, big gaps or A/H quotes.


New Supernovae scan return. A 5 day move up which closed at 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 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. A 0.40 fail of some kind may prove pivotal. OTC cheapie.


In play both ways. 1st, as a fall fail fade back under 2. If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Down about 1% A/H. Also a short on panic dumps at or near the bell or in the afternoon. No huge gaps. Long on more upside on a test/hold/perk off 2. If this maintains this it could have more. Also long on spiking up at or near the gun for a scalp. An over/under live price action call. Possible red to green long after a weak open and 2 test that prevails. Low float, so if shorting honor stops.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 4.50/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 4.50 and keeps going a bit. Stops above Thursday's high or (4.70) at worst. Increasing volume. OTC, caution.


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 13.65) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Thursday, a weak sign for new buys. Needs to keep above the Thursday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Up A/H over 0.5%.


Bullish Engulfing. I like this long over the high (0.51) of Thursday. Low 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 0.45 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. OTC cheapie respect stops.


B/O scan. I like it long back over 3.61 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. Medium volume on the rise, a neutral sign for new buys. No A/H quote. Exiting below 3.50 on fails after trigger entering might be prudent. Early r/g buy?

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