Monday, May 01, 2017

Watchers for the 5-2-17 trading session

MTBC

This recent red session Supernovae soared again Monday. Watch once more it is up a lot. Possible short.


OHGI

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



PRGE

Also doubling over the past 4-5 sessions, treat this a new Supernovae and see my general comments for OHGI, above. Possible fade.

INVA

Bullish Engulfing. I like this long over 12.38/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 11.78 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



BCRX

Parabolic Sar scan. I like it long over 6.94 and holds. Low volume on the rise Monday, a good sign for new longs. Place a stop under the close Monday or the 1st 30 minute low Tuesday. 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.



QCP

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 17.37/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 17.35 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is still arriving, suggesting reversal upwards may be delayed.



ORIG

B/O scan. I like it long back over 0.29 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday 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 good sign for new buys. Exiting below 0.26 on fails after trigger entry is possibly advisable. Early r/g buy?



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