Monday, October 12, 2015

Watchers for the 10-13-15 trading session


See my previous comments again. Another up session to new highs for a possible short tomorrow.


First red day Supernovae. Finished red over 19% 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 very likely given the sizable 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 a bit wider. Weak mixed short signals at best on those counts, but watch it.


Another initial red session Supernovae. See my comments for the above stock for general tips.


Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (1.50) 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. Small sell volume on Monday means it may have some chances to work. A 1.40 fail may be ideal. Avoid big gaps/longs. Panic dump?


In play both ways. As a long on continuation of momentum above 10.01/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9.50/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 9.75. The fade is more likely given the price action on Monday, but keep an open mind.


B/O scan. I like it long back over 4.26 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. Moderate volume on the rise, a neutral sign for new buys. Exiting below 4.10 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.88/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 is not too far away to use for stops. Ideally stays above 2.77 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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