Thursday, August 17, 2017

Watchers for the 8-18-17 trading session

DRYS

Finished almost unchanged. See my previous comments for approaches. Potential short.



DIGAF

First red day Supernovae. Finished red under 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 moderately likely given the average 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. Sell volume was sizable, range also. Substandard at best short signals yet watch it.


SSI

B/O scan. I like it long back over 2 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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 1.90 on fails after trigger entry is possibly advisable. Early r/g buy?


KOS

Bullish Engulfing. I like this long over 6.78/holds. Modest volume on the rise, which is a fair 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 6.60 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


SPEX

In play both ways. As a long on continuation of momentum above 1.97/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 1.81. The fade is more likely given the price action on Thursday, but keep an open mind.


UPL

Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very  large. Can use a bit above Thursday's open for risk control. Trigger is below the low of last time, here under 8.15/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. The other idea is to play for a 8 fail as the ceiling. Stop above Thursday's high at the most if more aggressive. 


LYTS

Parabolic Sar scan. I like it long over 6.14 and holds. Modest volume on the rise Thursday, a fair sign for new longs. Place a stop under the close Thursday or the 1st 30 minute low Friday. 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.



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