Thursday, February 18, 2016

Watchers for the 2-19-16 trading session


Supernovae, still maturing. See my previous comments for possible entrance/exit strategies.


Watch again for downside. Rose today a lot after an initial red session Supernovae.


This also just reddened, and rose less than 1% as a blown Supernovae. Possible fade gravy.


First red day Supernovae. Finished red  over 27% 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 huge red result of Thursday. 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 medium, range larger. Suspicious short signals at best on those counts, but watch it.


In play both ways. As a long on continuation of momentum above 2.16/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/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 2.10. The fade is more likely given the price action on Thursday, but keep an open mind.


B/O scan. I like it long back over 7.29 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Decent volume on the rise, a suspect sign for new buys. Exiting below 7.10 on fails after trigger entry is possibly advisable. Early r/g buy?


Red floater scan return. Idea is to play for more down side on day 2. Closed down a bit under 1.5% on Thursday off a gap down open that ended below the debut. Stop just above the Thursday session high (6.13) 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. Decent sell volume on Thursday means it may have possible chances to work. A 6 fail may be ideal. Avoid big gaps/longs. Panic dump?

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