Friday, March 06, 2015

Watchers for the 3-9-15 trading session


Still up almost where it was after the initial red session. Possible short on weakness. Basing is a risk here.


New Supernovae scan return. A 3 day move up which closed at the highs and above the open. Volume peak Thursday. 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.


In play both ways. As a long on continuation of momentum above 1.60/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50/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 1.50. The fade is more likely given the price action on Friday, but keep an open mind.


B/O scan. I like it long back over 1.45 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 1.35 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.41/holds. Low volume on the rise, which is a good 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 as a stop. Ideally stays above 2.25 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. 


Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Friday's close for risk control. Trigger is below the low of last time, here under 7.57/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 7.67 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive. 


I like this long on a break out over 15.25/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Modest volume gap down sizable rise on Friday. Requires constant monitoring. Stops just under 14.75 is one risk managing approach, since a fail back under indicates failure on the buy. 

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: