Monday, August 12, 2013

Watchers for the 8-13-13 trading session


Supernovae, still maturing. It rose another 46.5%+ today, closing near the hod. Potential short on weakness. See my previous comments, still mostly applicable. It gained on a bit lesser volume.


New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume small most days, medium Friday and biggest today. 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, no 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 6) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5. Needs to keep above the Monday close, or at least above 5.50 on pull backs to remain viable as a long, aside from any early noise. Up A/H over 1%. Early sustained prices over 6 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more down side on day 2. Closed red over 0.50% on Monday off a gap down open that ended below the debut. Stop just above the Monday session high (16.55) 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. Modest sell volume on Monday means it may have some chances to work. A 16 fail is ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 8.30 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 not 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 poor sign for new buys. No A/H quote. Exiting below 8.25 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 4.96/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 4.85 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 16.24/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 16.20 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest buy volume, which could mean overt sell interest has not fully waned, suggesting reversal may be possible but not quite yet at hand. No A/H quote.

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