Monday, August 30, 2010

Watchers for the 8-31-10 trading session


At the top of the garbage heap, this fishy Pinkie is a Stinkie if the voice of history as we know it is correct. Look for shares to short as this is up 5K+% on day 1 and now 85.5%+ on day 2. Wait for weakness cues, then fade.


Already the high wave stick to relative to the close suggests some distribution session is nearing, so this Supernovae scan return is on my radar for a fade entry on weakening cues. Might not be done yet, let live price action determine your actions tomorrow.


Pinkie that could use some more volume, but it has triple topped on its daily chart @ 0.20 beginning July 19, then July 20 and finally today. So, only  if it takes and holds that with volume and acceleration, is it a long. More likely, it will top out there yet again and yield an easy fade entry. This may come as soon as tomorrow.


Amid no obvious news this super cheapie OTC advanced over 1,500% and closed well off of its highs. I look for more profit taking fade entry possibilities tomorrow. Watch it from the gun for weakness to short into.


Possible early red to green on this tomorrow. Could end up being a long scalp, as this stock is not exactly Berkshire Hathaway. Took out 2.45-50ish range ceiling today. Watch this for later signs of weakness mid session for fade entry chances. I expect this to print a full red candle soon, perhaps tomorrow but more likely Wednesday or so after more undeserved excitement on Tuesday.


Double top, not choice meat (like BMGP) as it has only hit twice and close apart, but 1.10 should be watched closely tomorrow. If we zoom above that and hold with acceleration and volume, we have a long entry. If we fail at a test of the technical ceiling there, a fade entry beckons. As the volume has been declining on the recent rise, I suspect the latter is more likely. Let price action tomorrow decide early the betting angle.

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