Wednesday, September 18, 2013

Watchers for the 9-19-13 trading session


Supernovae, still maturing. See my previous comments, still in play. Rose almost 11% on more decent volume. Potential short on weakness.


Almost 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 13.30) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12.50. Needs to keep above the Wednesday close, or at least above 12.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more down side on day 2. Closed down less than 4% on Wednesday off a gap down that ended below the debut. Stop just above the Wednesday session high (1.80) 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 Wednesday means it may have unclear chances to work. A 1.70 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 5.04 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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 4.95 on fails after trigger entry is possibly advisable. Early r/g? Up A/H 2% so wait for it to shake out first before entering.


Bullish Engulfing. I like this long over 7.95/holds. Large volume on the rise, which is a poor 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 7.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Up over 1% A/H so let it settle in if possible.


In play both ways. As a long on continuation of momentum above 2/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.90 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 1.90. The fade is more likely given the price action on Wednesday, but keep an open mind. Moderately sized float.


Hammer scan short. The tail is too long to use the high as a stop level unless the position is reasonable. Can use a bit above Wednesday's open for risk control. Trigger is below the low of last time, here under 5.92/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 6 let it test/hold/fall from there 1st before entering. No longs. Stop above Wednesday's high at the most if more aggressive. Up A/H over 0.50% so watch it early for reversal.

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