Monday, May 11, 2015

Watchers for the 5-12-15 trading session


Now at peak highs since the initial run-up, see my previous comments for another possible fade on weakness come Tuesday.


This advanced almost to where it was after the initial red session Supernovae. See my original comments, a possible fade on weakness again.


New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume peak Monday. 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 Tuesday 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 2.70/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50/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 2.50. The fade is more likely given the price action on Tuesday, but keep an open mind.


B/O scan. I like it long back over 3.09 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. 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?


Bullish Engulfing. I like this long over 6.18/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day arguably is too far away to use for stops. Ideally stays above 6.05 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 14.86/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 14.83 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which may mean overt buy interest is not clear yet, suggesting reversal upwards is still ahead.

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