Monday, December 23, 2013

Watchers for the 12-24-13 trading session


New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume rising most days, a bit less Monday. 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 15.36) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14. Needs to keep above the Monday close, or at least above 14.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 15 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up almost 7% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (10.24) 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 buy volume on Monday means it may have unclear chances to work. A 9.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 3.48 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 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 fair sign for new buys. Exiting below 3.30 on fails after trigger entry is possibly advisable. Early r/g buy? Up A/H a bit over 0.50%.


Bullish Engulfing. I like this long over 9.16/holds. Small volume on the rise, which is a good 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 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 9.10 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 1.60/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50 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 1.50. The fade is more likely given the price action on Monday, but keep an open mind.


Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Monday's open for risk control. Trigger is below the low of last time, here under 5.02/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 5.04 let it test/hold/fall from there 1st before entering. No longs. Stop above Monday's high at the most if more aggressive.

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