Sunday, October 22, 2017

Watchers for the 10-23-17 trading session


New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest Friday. 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 Monday 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.


Another new Supernovae, see my comments above for general tips/approaches.


In play both ways. As a long on continuation of momentum above 6.75/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6/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 6.58. The fade is more likely given the price action on Friday, but keep an open mind.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 0.5% on Friday off a flat open that ended below the debut. Stop just above the Friday session high (3.24) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Big volume on Friday means it may have suspect chances to work. A 3 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 5.24 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a tepid sign for new buys. Exiting below 5.10 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 11.26/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 10.96 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


Parabolic Sar scan. I like it long over 2.51 and holds. Loq volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. 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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