Wednesday, October 13, 2010

Watchers for the 10-14-10 trading session


Conditional entry here. Intended as a bargain hunting long with early entry and exit. Only enter if it shows upward mobility early. It opened today at the lod, then moved gently up early then flat lines to finish green by nearly 5% akin to watching paint dry. Very early red to green possible for an entry but I prefer something more like an encore of today's price action or I remain flat. Long only, as too much reddening already has happened, but as I said the entry is contingent upon early strength. It could resume its tanking about as easily.


Superman, of Super Trades-a blog many assume to be ran by a borderline stock promoter, has been pushing this stock long since February of this year, at least. The stock price is currently lower than it was back in February, but it has been on a tear lately. On the verge of short term over extension, I look to fade this on clear weakness cues, or stay flat otherwise. A distribution day should be in cards soon. No, I am not a buyer now any more than back on Valentine's Day.


This seems to be on the verge of winding down, but I think it has a last gasp left. Volume is still strong. It is up after hours modestly. Ideal is a long scalp from the gun or very early on with possible spiking. Then a top fishing fade on dying momentum green candles. Obviously, confirmed weakness cues merit a short, as it is up so nicely as to be asking for profit taking. Long biased still, but keep an open mind. A live price action case.


Closed on hod. Comparatively low volume on the past 2 daily candles, especially compared to the moves on July 21-22. Nearing over extension, a fade on clear weakness cues. Early spiking prints so far, but I do not expect that as readily for tomorrow. Down after hours, I am not interested in a red to green long unless we take out 3.15 decisively. Merely testing 3 again will not be enough to convince me. It may fail there anyway.


Now a red floater scan return, the hope is for additional down side to fade into on confirmed weakness cues. Remain flat otherwise. It stormed out of the gate to test 3 today, but at this point I await a chance to short.


This one could have a bit more, hopefully out of the gate, before being sold off. Up after hours and now over 5, I want to see if we hold that level and expand upon it initially with spiking to long scalp into, or if it quickly falls under 5 for a fade entry on the profit taking dump that will then be given some psychological impetus. A live price action situation. Traditional confirmed weakness cues are always possible, too. Since we only have to go below 4.95 to be there, it may not be unrealistic as soon as tomorrow, unless it really runs up.


Yet another Chinese flyer, this one looks to test 8 out of the box or very early. Any initial spiking invites a short on its rapidly over extending moves. Fading into dying momentum green candles by top fishing or selling into more typical clear weakness cues are possible. Live price action situation again. No long scalping here for me on the possible 8 test. I am more interested in fading selling on a drift back below 8 bucks.

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