Saturday, July 07, 2012

Watchers for the 7-9-12 trading session


Again, see my previous analysis. This is making a bid for a 2 push. I am hoping it dies right around there for the fade. It rose again Friday. Place a stop just over the high Friday or the initial 30 minute on Monday. Or just over 2 if the drop tops out there. No big gaps. No A/H quote shift. 52's @ 2.15, stops just above?


First red day Supernovae. Finished down over 26% 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. This may be rather more likely given the huge degree of reddening Friday. 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 medium, range more imposing. Mixed signals for new shorts.


New Supernovae scan return. A 5 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 Monday 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 0.63 fail of some kind may prove pivotal. Scamex stock.


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 2.47) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Friday, a weak sign for new buys. Needs to keep above the Friday close or at least over 2.40 on pull backs to remain viable as a long, aside from any early noise. No A/H quote shift.


B/O scan. I like it long back over 2.07 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday 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. Modest volume on the rise, a fair sign for new buys. Up A/H 2%. Exiting below 2 on fails after trigger entering might be prudent. Early r/g buy?


Red floater scan return. Idea is to play for more down side on day 2. Ended down over 2.5% on Friday via a gap up that closed below the open after 6 up days. Stops just above 1.14 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. Low sell volume on Friday which means it may have fair chances for shorts. Avoid all longs and big gaps, especially large gap downs. No A/H quote. 


In play both ways. 1st, as a fall fail fade back under 6.50. If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. No A/H quote. 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 6.50. 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 6.50 test that prevails. Low float, shorts honor your stops.

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