Monday, July 23, 2012

Watchers for the7-24-12 trading session


New Supernovae scan return. A 4 day move up which closed almost at the highs and above the open. Volume rising the past few 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 0.70 fail of some kind may prove pivotal.


Another new Supernovae scan, this one has had a staggered move up to new highs. Volume not as massive as the above stock, but analysis is relatively similar. A 2 test/fail could prove pivotal. No after hours change.


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 7.82) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Monday, a poor sign for new buys. Needs to keep above the Monday close or at least over 7.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Over/under 7.50  is clearly key.


B/O scan. I like it long back over 5.17 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a decent sign for new buys. Down A/H nominally. Exiting below 5 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over the high (12.69) of Friday. Real volume on the rise, which is a poor 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably too far away to use for risk management via stops. Ideally stays above 12.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


In play both ways. 1st, as a fall fail fade back under 3. If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Also a short on panic dumps at or near the bell or in the afternoon. No huge gaps. Long on more upside and on a test/hold/perk off 3. 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 3 test that prevails. Unclear float, shorts honor stops. Up A/H over 1.5%.


Hoping for a bounce finally on this. It perked up a bit today, but the last time it did so it was a false alarm, without a 2nd day follow up move. Stop just under 1.49. conservatively just under 1.56. Long over 1.75.

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