Sunday, November 20, 2016

Watchers for the 11-21-16 trading session


Believe it or not, possible gravy downside here after a modest up session following the crash. Recent initial red session Supernovae.


Watch again, finished almost where it was after the initial red day. Possible fade on weakness.


First red day Supernovae. Finished red under 0.5% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 nominally likely given the weak red result of Friday. 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 tiny, range moderate. Decent to modestly promising short signals so watch it.


Another initial red day Supernovae. See my comments for PTCT above for approaches in general. Fell a lot more (though on modest volume) so less promising.


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 5.89) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5.50. Needs to keep above the Friday close, or at least above 5.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 5.75 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 4.12/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4/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 4.10. The fade is more likely given the price action on Friday, but keep an open mind.

(No chart.)


Bullish Engulfing. I like this long over 9.90/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 9.85 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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