Sunday, May 10, 2015

Watchers for the 5-11-15 trading session


Advancing again, this is near where it was before the initial red session. Recent Supernovae, see my original comments for another possible fade entry.


Doji print advance of around 0.50% Friday. Big initial red session Supernovae. Watch again on a do-over for another fade chance, though the odds are suspect given that the down day was so steep.


Made a Supernovae scan despite a big red session Friday. Treat as an initial red session one. Possible 2nd day fade on weakness. Fell under 3% due to a huge gap up.


In play both ways. As a long on continuation of momentum above 3.06/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 Friday, 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 15.29) and holds. Avoid shorts, keep flat on true weakness. Nice move above 13.50. Needs to keep above the Friday close, or at least above 14 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 14.94 are ideal for aggressive entry.


B/O scan. I like it long back over 1.80 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. Modest volume on the rise, a decent sign for new buys. Exiting below 1.60 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.86/holds. Modest 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 2.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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