Friday, September 13, 2013

Watchers for the 9-16-13 trading session


Supernovae, still maturing. See my previous comments, still in effect mostly. It rose over 22.5% on fairly strong volume. Down A/H over 1.5%. Potential short on weakness.


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 7.84) and holds. Avoid shorts, keep flat on true weakness. Nice move above 7.25. Needs to keep above the Friday close, or at least above 7.25 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 7.50 are ideal for aggressive entry. Needs more volume.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 3% on Friday off a gap up that ended below the debut. Stop just above the Friday session high (3.85) 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 buy volume on Friday means it may have unclear chances to work. A 3.75 fail may be ideal. Avoid big gaps/longs. Panic dump?


Bullish Engulfing. I like this long over 8.35/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 on Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 8 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


In play both ways. As a long on continuation of momentum above 5.99/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5.50 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 5.50. The fade is more likely given the price action on Friday, but keep an open mind. Low float.


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 open alternatively instead. Trigger is above the high of last time, here above 6.24/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 6.19 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Small buy volume, which could mean overt buy interest has not yet reached its zenith, suggesting reversal upwards may soon be at hand. 


I like this long on a break out over 13.03/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 pseudo 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 sizable rise on Friday. Requires constant monitoring. Stops just under 12.50 is one risk managing approach, since a fail back under indicates failure on the buy. Up A/H less than 0.50%.

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