Friday, May 03, 2013

Watchers for the 5-6-13 trading session


Supernovae, still maturing. See previous comments, yet in effect. Closed up below the open over 1% on lessening buy volume.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (19.65) 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 buy volume on Friday means it might have some chances to work. A 19.50 fail would be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 8.02 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 likely too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a weak sign for new buys. Up a tad A/H. Exiting below 7.75 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 1.80/holds. Low volume on the rise, which is a good 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 1.77 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.


In play both ways. As a long on continuation of momentum above 4.20/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4.00 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 4.00. No A/H quote move. The fade is more likely given the price action on Friday.


New 52's. Short term, these yearly high stocks often 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 12.75) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12. Needs to keep above the Friday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Friday's close for risk control. Trigger is below the low of last time, here under 11.93/holds. Avoid all big gaps, especially down ones. No A/H quote. If it gaps under the trigger or 12 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.

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