Thursday, July 11, 2013

Watchers for the 7-12-13 trading session

SANB

Again, see my previous comments. Still looking to fade this fast maturing Supernovae. On moderate volume it rose less than 10%.


BMIX

First red day Supernovae. Finished down over 27% last time, so more down side might not be in the cards. 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 is very likely given the big red result of  Thursday. 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 moderate, range similar. At best, mediocre signals.


SIBE

See my comments for the above stock, which resembles this one. It closed down over 15.5% today on decent sell volume. Looking to gravy fade it on more down side.


AFFX

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 5.20) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5. Needs to keep above the Thursday close, or at least above 5 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.



MTL

B/O scan. I like it long back over 3.05 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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. Exiting below 2.90 on fails after trigger entry is possibly advisable. Early r/g?


CAAS

Red floater scan return. Idea is to play for more down side on day 2. Closed south over 2% on Thursday off a gap down open that ended below the debut. Stop just above the Thursday session high (7.99) 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. Moderate sell volume on Thursday means it might have unclear chances to work. A 7.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


WAVX

In play both ways. As a long on continuation of momentum above 1.57/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50 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 1.50. The fade is more likely given the price action on Thursday, but keep an open mind given the short squeeze prone float.




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