Saturday, June 29, 2013

Watchers for the 7-1-13 trading session


New Supernovae scan return. A 9 day move up which closed below the highs and above the open. Volume varied most days, stable Friday. 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 scalps.


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 14.98) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14. Needs to keep above the Friday close, or at least above 14 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.


B/O scan. I like it long back over 2 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Very strong volume on the rise, a poor sign for new buys. No A/H quotes. Exiting below 1.90 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 7.60/holds. Modest 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably too far away to use for stops. Ideally stays above 7.25 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 1.34/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.30 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 1.30. The fade is more likely given the price action on Friday, but keep an open mind. No A/H quote.


I like this long on a break out over 8.20/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early psuedo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Big volume rise on Friday. Requires constant monitoring. Stops just under 8 is one risk management approach, since a fail back under indicates failure on the buy.


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 8.96/holds. Avoid all big gaps, especially down ones. No A/H quote shift. If it gaps under the trigger or 9 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: