Supernova scan return cheapie may not be done yet, volume ever higher, but when the near hod closer pops, I want to be there to ambulance chase. Box and drop or fade clear weakness cues, stay flat otherwise.
Production assignment deal news catalyst sent this soaring nearly 164% on Friday. Closing well off the highs, some initial spiking might occur on Monday that can be long scalped early. A profit taking dump yielding a top fishing short should follow, either on Monday or very soon. Also possible is more of the usual weakness cues to fade, if it opens slightly up or down or flat. Live price action will give us a better picture on Monday.
News came out on the 5th, no real reaction. The 7th saw some interest, and Friday it closed green by over 61% for whatever reason. Short on the usual verified weakness cues, be flat otherwise. Spam check negative.
Still looking to fade this over extending stock on profit taking. Seems to be running out of forward momentum, so it's a short on confirmed weakness cues. Spiking from the bell is less likely now, and as such, a top fishing fade entry is also likely off the table. Not interested in a long at this point, so let's hope for the distribution.
This began to fail near 4. I expect similar price action on Monday. If we get over that and hold it, it's a possible long. Fade entry on a failed 4 test or our standard weakness cues. Live price action will clue us in.
During its recent run up, another daily red candle occurred after several up days on October 5th, we may see more distribution on Monday or fairly soon. Not interested in longs here. Wait for clear weakness cues to enter or be flat. Such a play is aimed at profit taking days. No top fishing fades are likely here, no spiking up.
Double top on this recent mover at 1.94 exactly. Closed below that but a possible retest and fail there as resistance for a short entry awaits. Obviously, overtaking the above level, and 2 per share on volume with acceleration is a long entry sign post. Live price action will determine our fence sitting position.
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: