Monday, August 19, 2013

Watchers for the 8-20-13 trading session


Supernovae, still maturing. Rose another 100%+ on huge peak volume. See my previous comments, little has changed. Potential short.


First red day Supernovae. Finished down over 12% 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 fairly likely given the big red result of Monday. 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 fairly low, range more wide. At best, mixed weak short signals.


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 16.98) and holds. Avoid shorts, keep flat on true weakness. Nice move above 15. Needs to keep above the Monday close, or at least above 15 on pull backs to remain viable as a long, aside from any early noise.


Bullish Engulfing. I like this long over 15.15/holds. Low volume on the rise, which is a fair 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 not too far away to use for stops. Ideally stays above 14.90 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


B/O scan. I like it long back over 0.30 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. Modest volume on the rise, a decent sign for new buys. Exiting below 0.275 on fails after trigger entry is possibly advisable. Early r/g?


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 26.77/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 26.74 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean overt sell interest has not fully waned, suggesting reversal may not be yet at hand.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up 2.5% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (1.33) 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 Monday means it might have unclear chances to work. A 1.20 fail may be ideal. Avoid big gaps/longs. Panic dump?

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: