Wednesday, October 20, 2010

Watchers for the 10-21-10 trading session


Only modest reddening happened today. Supernovae of the week, I look to fade this on morning panic style dumps or traditional confirmed weakness cues if they surface. Box and drop shorts must be pulling their hair out by now over this thing, which has already had some fake outs. This thing turns on a dime, so be careful and consider booking any decent gain if either short or long. Shares lately might be hard to find on this.


Now a Supernovae scan return, this is on watch for profit taking shorts. If early spiking occurs a possible dying momentum green candles top fishing fade is possible, but I usually prefer traditional confirmed weakness cues. Might not be done yet, volume is still rising and this area of the stock market is on fire just now.


See my comments for SHZ, most of that applies here on this play. Also a Supernovae scan return, this one is not in the rare earth metals category, but it is on fire similarly. Volume still rising, so it might not be done yet. Most of the difficulty in being a short comes in patiently stalking, waiting to strike, aside from share locates.


Analyst downgrade and FDA rejection destroyed this stock today, but taking the opposite side from early on banked for optimists. I wonder if early price action will hint at more greening, if so I am long. Might be like watching paint dry, though. Basically odds are it would require holding for hours, so keep that in mind. I doubt we will get any kind on real spiking to long scalp into, as well. Price action might be similar to today.


On fire supposedly over the Chinese government sale authorization, could see an early long for at least a scalp on spiking or more if it holds up. Possible red to green entry long depending on price action early on. Back in July this stock had a similar huge up day, which it failed to expand upon. We will see what happens this time.


Supposedly a takeover offer by NOREX at 1.50 per share. Possible long if more idiots arrive early and often and it sports from bell spiking or obvious upward mobility. Good enough to scalp into at least if the party continues.


Ownership disclosure sent this skyward on Tuesday. The lunacy continued today. Beginning to over extend but of course it may not be done yet. Volume is still increasing. Some profit taking is bound to arrive, though. Short biased, but keeping an open mind. If it begins to sell off early a fade is possible, a bit late for longs. Naturally any of our traditional weakness cues shorting signals as well. Be patient, it helps to avoid squeezes.

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