Monday, April 06, 2015

Watchers for the 4-7-15 trading session


Supernovae still maturing. See my previous comments, still applicable. Up over 63% on peak volume. Short possible.


First red day Supernovae. Finished red over 20% 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 pretty likely given the big red result of Monday. 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 low, range sizable. Mixed short signals at best on those counts, but watch it.


Another initial red session Supernovae, see my comments for NYMX above for comparison. A similar situation. Fell over 7% on sizable volume. Potential fade.


In play both ways. As a long on continuation of momentum above 3.15/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3/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 3. The fade is more likely given the price action on Monday, but keep an open mind.


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 2.48) and holds. Avoid shorts, keep flat on true weakness. Nice move above 2. Needs to keep above the Monday close, or at least above 2.25 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 2.48 are ideal for aggressive entry.


I like this short on over extension back under 15 on a fail of that. Several up days running with peak volume Monday. Set a stop above today's high (15.44) and stick to it. Scalp at open on a big position on a fast sell off. No longs, avoid all big gaps.


B/O scan. I like it long back over 4.76 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Huge volume on the rise, a poor sign for new buys. Exiting below 4.50 on fails after trigger entry is possibly advisable. Early r/g buy?

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