Tuesday, October 22, 2013

Watchers for the 10-23-13 trading session


Supernovae, still maturing, see my previous comments for entry/exit/trade management tips, mostly still applicable. Rose over 7.5% today off more very modest volume. Might crack any day now.


First red day Supernovae. Finished down almost 15% 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 pretty likely given the big red result of Tuesday. 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 modest, range bigger. Mixed weak short signals, but do watch.


Supernovae, ongoing. See my previous comments which are identical for this play. It finished unchanged and closed on modest volume.


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 6.56) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6. Needs to keep above the Tuesday close, or at least above 6 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 6.50 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 3/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3 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 3. The fade is more likely given the price action on Tuesday, but keep an open mind. Unclear float size so tread carefully.


B/O scan. I like it long back over 5.54 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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. Exiting below 5.30 on fails after trigger entry is possibly advisable. Early r/g buy?


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 9.24/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 9 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Big sell volume, which could mean overt sell interest is declining, suggesting reversal upwards may be soon at hand.

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