Sunday, November 23, 2014

Watchers for the 11-24-14 trading session


New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume large Friday. 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 Monday 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. See my comments for the above play, which this resembles. 2 day advance.


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 15.88) and holds. Avoid shorts, keep flat on true weakness. Nice move above 15. Needs to keep above the Friday close, or at least above 15.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 15.86 are ideal for aggressive entry.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up 1%+ on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (20) 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. Low buy volume on Friday means it may have unclear chances to work. A 19.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 9.27 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 arguably 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 8.85 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.67/holds. Low volume on the rise, which is a fair 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  too far away to use for stops. Ideally stays above 2.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


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 27.09/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 27.08 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which could mean overt buy interest is imminent, suggesting reversal upwards is now on tap.

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