Wednesday, August 30, 2017

Watchers for the 8-31-17 trading session


Still up tons. Watch again for possible fade on weakness. Initial red session Supernovae, next day.


Supernovae, still maturing. See my comments from last time. Possible short.


First red day Supernovae. Finished red over 12.5% 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 quite likely given the big red result of Wednesday. 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 modest, range larger. Weak to mixed at best short signals yet watch it.


Supernovae, still maturing. See my comments from last time. Possible short.


B/O scan. I like it long back over 2.29 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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 2.20 on fails after trigger entry is possibly advisable. Early r/g buy?


In play both ways. As a long on continuation of momentum above 2.76/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.65/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 2.75. The fade is more likely given the price action on Wednesday, but keep an open mind.


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 9.84/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 9.82 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate buy volume, which may mean overt buy interest is starting to arrive, suggesting reversal upwards is on tap.

New users: Read my trading guide for my play set-ups!

Review my blog at Investimonials:

Follow me now on Twitter:

Watch my instructional trading videos on YouTube:

Subscribe to Big T by e-mail:

Subscribe to Big T in a news reader:

The blog has a terms of service. Be sure to read it at:

No comments: