Monday, March 02, 2015

Watchers for the 3-3-15 trading session


Again, see my previous comments. Finished unchanged today. Potential fade on weakness.


Due to the gap up and price action, finished unchanged today. Potential fade on weakness.


New Supernovae scan return. A 3 day move up which closed below the highs and below the open. Volume below 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.


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 15.05) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14. Needs to keep above the Monday close, or at least above 14.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 14.93 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 1.10/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/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 1. The fade is more likely given the price action on Monday, but keep an open mind.


Bullish Engulfing. I like this long over 10.10/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 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 9.80 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 close alternatively instead. Trigger is above the high of last time, here above 16.71/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 16.60 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards is still in the works.

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: