Monday, October 27, 2014

Watchers for the 10-28-14 trading session


Supernovae, still maturing. See my previous comments, still in effect for Tuesday. Low volume +6.5% move up. Potential short.


First red day Supernovae. Finished red over 10.5% 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 big red result of Monday. 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 huge, range also sizable. Weak short signals at best on those counts, but watch it.


Almost 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 13.49) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12. Needs to keep above the Monday close, or at least above 12.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13.29 are ideal for aggressive entry.


B/O scan. I like it long back over 1.14 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. Low volume on the rise, a good sign for new buys. Exiting below 1.05 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 15.15/holds. Medium 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 arguably not too far away to use for stops. Ideally stays above 14.75 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 2.63/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.25/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 2.25. The fade is more likely given the price action on Monday, but keep an open mind.


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 14.38/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 14.34 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean overt buy interest is still arriving, suggesting reversal upwards is soon but not yet here.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: