Wednesday, January 27, 2016

Watchers for the 1-28-16 trading session

ACIIQ

Watch once more despite the rise on this recent Supernovae fail. Possible fade on weakness, see last words.


ENOC

First red day Supernovae. Finished red  over 12.5% 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 big red result of Wednesday. 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 moderate, range similar. Suspect short signals at best on those counts, but watch it.



DF

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 19.86) and holds. Avoid shorts, keep flat on true weakness. Nice move above 19.50. Needs to keep above the Wednesday close, or at least above 19.36 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 19.63 are ideal for aggressive entry.



ASCMA

Bullish Engulfing. I like this long over 11.42/holds. Moderate volume on the rise, which is a tepid 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 10.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



CMCO

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 open alternatively instead. Trigger is above the high of last time, here above 14.07/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 14 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which may mean overt buy interest is just developing, suggesting reversal upwards is not clear yet.



TEX

I like this long on a break out over 23/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Sizable volume gap up debut sizable rise on Wednesday. Requires constant monitoring. Stops just under 22 is one risk managing approach, since a fail back under indicates failure on the buy. 



SHIP

B/O scan. I like it long back over 4.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Wednesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Sizable volume on the rise, a suspect sign for new buys. Exiting below 4.75 on fails after trigger entry is possibly advisable. Early r/g buy?



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