Closed on hod. Some EOD traders playing for a gap up and profits are already in this, but the idea now for those of us who are not is to short this rapidly over extending stock on profit taking. Fade weakness cues. Since the previous 2 session moves are based on supposedly real, positive news, some caution is advised, but always remember even in such cases booking of gains is as old as the hills.
Closed well off its highs on Friday. Volume is even bigger than the Thursday print. As such, I might be premature here in trying to fade this, it might not be done. But as of now it is on watch for over extension. Wait for clear weakness cues to enter if fading. Possible long scalp on early strength or spiking, as well.
Gee whiz, up over 5K% on what exactly. Huge potential short, once sanity returns in the coming days. Fade weakness cues only, watch it from the very first trade come Monday.
Over extension play that broke though some technical resistance on Friday near 5.30 but closed a bit lower.
Fade weakness cues if they arise. I want to see how this handles a 5.50 test, as well. If we overtake it, we could see at least some upside, to 5.75 or even 6 ish.
Up 220% on Friday, the close well off of the high, I look to fade this on more nervous selling, if it comes early on Monday. Unsure of what drove the move, if anything. Again, only short weakness in most cases.
Gap fill on 3 days of rebounding after cliff diving on the 24th. Watch 0.60 for cues, if we begin to accelerate through that more greening might be in store. More likely is a fail near that level and a fade play entry.
Off the record pick:
Budding swing play long, with 5 down trending days on an ETF that has seen much gentle upward mobility lately. Closed near the daily doji print on August 16, which one hopes is near or on technical support. Time the bottom, fish it, get in and hold for a few days, planning on exiting on any close above the 5 SMA, etc. Currently resting on the 20 SMA, a common bottoming point according some authorities in such cases.
The blog has a terms of service. Be sure to read it at: