Tuesday, April 04, 2017

Watchers for the 4-5-17 trading session

CYCC

New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume huge 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.



INNL

In play both ways. As a long on continuation of momentum above 1.86/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.75/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 1.82. The fade is more likely given the price action on Tuesday, but keep an open mind.



TTMI

Almost 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 17.86) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Tuesday close, or at least above 16.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 17.06 are ideal for aggressive entry.



SWN

B/O scan. I like it long back over 8.70 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. Modest volume on the rise, a fair sign for new buys. Exiting below 8.50 on fails after trigger entry is possibly advisable. Early r/g buy?



INFN

Bullish Engulfing. I like this long over 10.31/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is likely not too far away to use for stops. Ideally stays above 10.14 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



GPM

Parabolic Sar scan. I like it long over 8.14 and holds. Large volume on the rise Tuesday, a poor sign for new longs. Place a stop under the close Tuesday or the 1st 30 minute low Wednesday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.



TRUE

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 close alternatively instead. Trigger is above the high of last time, here above 15/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 14.91 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which may mean overt buy interest is arriving, suggesting reversal upwards is soon on tap.



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