Tuesday, March 07, 2017

Watchers for the 3-8-17 trading session

SPRN

Watch once more. A just fallen Supernovae that gapped down and almost doji printed. A big drop, so easily could bounce but volume was weak on the rise today. See my previous comments and look for a gravy dump.


PRZM

First red day Supernovae. Finished red over 23.5% 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 huge red result of Tuesday. 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 wider. Poor to mixed at best short signals but watch it.



IMMD

Another initial red session Supernovae. See my comments for the above stock roughly applied. Also down over 10% so be careful.


AUPH

New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume big Tuesday. 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 Wednesday 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.



TEDU

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 18.50) and holds. Avoid shorts, keep flat on true weakness. Nice move above 18. Needs to keep above the Tuesday close, or at least above 17.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 18.05 are ideal for aggressive entry.



MBRX

B/O scan. I like it long back over 1.25 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 1.15 on fails after trigger entry is possibly advisable. Early r/g buy?



PRKR

In play both ways. As a long on continuation of momentum above 2.65/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 2.59. The fade is more likely given the price action on Tuesday, but keep an open mind.



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