Tuesday, February 03, 2015

Watchers for the 2-4-15 trading session


New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume huge 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.


Another new Supernovae. See my comments above for general approaches. Staggered move up. 


Another new Supernovae. See my comments for the above plays for general tips. 2 day rise. 


Another new Supernovae. See my above comments for general ideas. Up 2 days running, peak volume.


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 9.32) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Tuesday close, or at least above 9 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 9.28 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 5.05/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.


Bullish Engulfing. I like this long over 8.50/holds. Modest 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 8.30 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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