Friday, December 27, 2013

Watchers for the 12-30-13 trading session


See my previous comments on this reddening Supernovae. Still in play. Basically doji printed Friday. Could have more gravy, but be careful if fading. Looks like promotion involved here.


Supernovae, still maturing. Up via gap on a close lower than its open, over 6% Friday. Potential short.


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 very likely given the large red result of Friday. 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 medium, range wider. Suspect short signals, but watch for gravy.


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 10.48) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Friday close, or at least above 10 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 10.30 are ideal for aggressive entry.


B/O scan. I like it long back over 1.68 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Huge volume on the rise, a poor sign for new buys. Exiting below 1.60 on fails after trigger entry is possibly advisable. Early r/g buy? Up A/H over 4%, so let it settle first.


In play both ways. As a long on continuation of momentum above 2.64/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50 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 2.50. The fade is more likely given the price action on Friday, but keep an open mind.


Bullish Engulfing. I like this long over 7.45/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 7.30 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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