Tuesday, April 21, 2015

Watchers for the 4-22-15 trading session


Again see my previous comments. Supernovae still advancing. Up over 55.5% on larger volume than last time. Possible fade. A stubborn stock that should pop soon given all the up days.


Watch again. A recent initial red session Supernovae that fell nearly 6% today on less volume. Fade option. Still up a lot and might have some more red left.


New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume peak 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.


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 9.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9.25. Needs to keep above the Tuesday close, or at least above 9.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 9.99 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 1.67/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 Tuesday, but keep an open mind.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up a hair on Tuesday off a gap  up open that ended below the debut. Stop just above the Tuesday session high (9.15) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Low buy volume on Tuesday means it may have unclear chances to work. A 9 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 3.07 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a good sign for new buys. Exiting below 2.90 on fails after trigger entry is possibly advisable. Early r/g buy?

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