Tuesday, June 11, 2013

Watchers for the 6-12-13 trading session

KNDI

First red day Supernovae. Finished down only 1% or so last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 is unlikely given the weak red result of  Tuesday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was medium, range too. At best, tepid short signals.


VNDA

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 12.77) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12. Needs to keep above the Tuesday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise. No A/H quote move.


DSNY

Red floater scan return. Idea is to play for more down side on day 2. Closed red 1.5% or so on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (1.27) 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. Fairly strong sell volume on Tuesday means it might have suspect chances to work. A 1.20 fail would be ideal. Avoid big gaps/longs. Needs volume. Panic dump?


DCTH

B/O scan. I like it long back over 0.47 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is 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 decent sign for new buys. No A/H quote shift. Exiting below 0.425 on fails after trigger entry is possibly advisable. Early r/g?


AFFY

Bullish Engulfing. I like this long over 1.08/holds. Low volume on the rise, which is a decent 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 1 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote move.


BEAT

In play both ways. As a long on continuation of momentum above 5.30/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5 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 5. No A/H quote move. The fade is more likely given the price action on Tuesday, but be flexible here given the modest float.


BV 

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 Tuesday's close for risk control. Trigger is below the low of last time, here under 9.48/holds. Avoid all big gaps, especially down ones. No A/H quote shift. If it gaps under the trigger or 9.61 let it test/hold/fall from there 1st before entering. No longs. Stop above Tuesday's high at the most if more aggressive.


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