Tuesday, September 16, 2014

Watchers for the 9-17-14 trading session

AVNR

First red day Supernovae. Finished red under 3.5% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 unlikely given the weak 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 small, range not much more.  Fair short signals at worst on those counts, so watch it.


SINO

New Supernovae scan return. A 4 day move up which closed below the highs and below the open. Volume a lot higher Tuesday. 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 Wednesday 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.


TRQ

Red floater scan return. Idea is to play for more down side on day 2. Closed down 0.50% on Tuesday off a gap down open that ended below the debut. Stop just above the Tuesday session high (4.03) 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 Tuesday means it may have unclear chances to work. A 4 fail may be ideal. Avoid big gaps/longs. Panic dump?


SVM

B/O scan. I like it long back over 1.80 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. Low volume on the rise, a fair sign for new buys. Exiting below 1.75 on fails after trigger entry is possibly advisable. Early r/g buy? 


BTU

Bullish Engulfing. I like this long over 14.51/holds. Big 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 14.12 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


NYNY

In play both ways. As a long on continuation of momentum above 5.19/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 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. The fade is more likely given the price action on Tuesday, but keep an open mind.


BYD

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 10.92/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 10.89 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Medium sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards is soon but not yet on tap.


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