Wednesday, February 04, 2015

Watchers for the 2-5-15 trading session


Supernovae, still maturing. See my previous comments for general approaches.


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 fairly likely given the big red result of Wednesday. 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 more expansive. Mixed short signals at best on those counts, but watch. 


Another initial red session Supernovae. See my comments for CLRX above. Similar situation.


Finished almost unchanged. Again, see my comments for last time. Supernovae, still maturing.


Watch this one again for more downside. It's almost back to where it was in price before the 2 red sessions. A recent Supernovae scan. Set a stop a bit above 3.61 on fall fail fades.


B/O scan. I like it long back over 4.47 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Large volume on the rise, a poor sign for new buys. Exiting below 4.25 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 14.48/holds. Moderate volume on the rise, which is a tepid 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 14.10 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. 

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