Wednesday, April 01, 2015

Watchers for the 4-2-15 trading session


New Supernovae scan return. A 4 day staggered move up which closed below the highs and below the open. Volume peak Wednesday. 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 Thursday 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 stock. Similar situation here.


Yet another new Supernovae. See my comments for the first stock. Again a similar case. A bit less volume today.


In play both ways. As a long on continuation of momentum above 2.34/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2/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 2. The fade is more likely given the price action on Wednesday, but keep an open mind.


B/O scan. I like it long back over 10.10 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 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.65/holds. Significant volume on the rise, which is a suspect 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 likely too far away to use for stops. Ideally stays above 2.54 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


I like this long on a break out over 5.49/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 decent rise on Wednesday. Requires constant monitoring. Stops just under 5.30 is one risk managing approach, since a fail back under indicates failure on the buy. 

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