Sunday, February 19, 2017

Watchers for the 2-21-17 trading session

CALA

See my previous comments. Up almost 3% Friday. Recent initial red session Supernovae. Possible fade. Sideways action of late but still a watch.



GRPOF

See my previous comments. Up over 1% Friday. Recent initial red session Supernovae. Near prices on the drop day with declining volume.



ZSAN

Supernovae, still maturing. See my previous comments. Up over 1.5% Friday.



ZENO

First red day Supernovae. Finished red over 34% 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 very likely given the huge red result of Friday. 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. Selling volume was sizable, range too. Poor at best short signals but watch it.



CNBX

Supernovae, still maturing. See my previous comments. Peak volume many days up nearing reversal. Possible short.



PSIX

New Supernovae scan return. A 3 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 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.




GSIT

In play both ways. As a long on continuation of momentum above 7.06/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6.75/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 7. The fade is more likely given the price action on Friday, but keep an open mind.




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Trade review 2-17-17

I got a few plays right on Friday...

Hits:

ZENO

A steady drop ended down over 34% Friday.

CSLT

Entry on the trigger fail short kept decaying to end down almost 3.5% Friday.

Misses:

GRPOF

A gap up fell from open to trigger but closed up over 1% Friday to burn shorts.

ZSAN

Early entry short reversed to end up over 1.55 Friday.

CNBX

Early downside reversed to end up over 36% Friday.

Push:

CALA

A gap down rose steadily to end up over 2.5% Friday.

BDN

A steady drop denied longs, ending almost unchanged Friday.

Totals:
Daily record: W-2-L-3-P-2
40%

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Thursday, February 16, 2017

Watchers for the 2-17-17 trading session

CALA

See my previous comments. Down a bit over 0.50% Thursday. Recent initial red session Supernovae. Possible fade.



GRPOF

See my previous comments. Up under 2% today. Recent initial red session Supernovae.



ZSAN

Supernovae, still maturing. See my previous comments. Up nearly 8% today.



ZENO

New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume large Thursday. 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 Friday 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.



CNBX

Another new Supernovae scan, see my comments for the above play for general approach tips. 5 day move up on nearly peak volume in the advance.



CSLT

In play both ways. As a long on continuation of momentum above 3.90/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3.70/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 3.85. The fade is more likely given the price action on Thursday, but keep an open mind.



BDN

Bullish Engulfing. I like this long over 16.39/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 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 16.10 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.




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