Monday, October 13, 2014

Watchers for the 10-14-14 trading session


Again, see my previous comments on this recent initial red session Supernovae. It gapped up, ending under the open but north by around 3% today. Potential fade on weakness.


Supernovae, still maturing. See my previous comments. Nearly identical strong volume rise over 35% today. Potential short on weakness.


New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume peak 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.


Another new Supernovae scan, see the comments for the above stock which roughly apply here. Peak volume today, up over 66.5% with a 3 day rise. Potential fade play.


B/O scan. I like it long back over 8.49 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 on Tuesday. Avoid all shorts and all big gaps. The low on Monday is  arguably not 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 good sign for new buys. Exiting below 8.25 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 3.10/holds. Moderate volume on the rise, which is a neutral 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 as a stop. Ideally stays above 2.95 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. 


In play both ways. As a long on continuation of momentum above 3.30/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 Monday, but keep an open mind.

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