Wednesday, January 12, 2011

Watchers for the 1-13-11 trading session

EEE

Supernovae still maturing. Volume declining, but only slightly. See my comments from last time, they mostly still apply. Strong potential short if and when it begins to implode.


IWDM

Supernovae scan return. Volume still strong, so it might not be over. Box and drop or wait for decay. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid longs and big gaps, especially downward ones. Fade on morning panic or conventional confirmed weakness cues.


FRZ

I might have been 1 day early. Prices advanced on lesser volume, which was already hum drum to begin with. Looks like a double top, with a ceiling around 3.80ish. If we take and hold that on volume, it might be longed, but I want to short a failed test of that top area around 3.75-3.80 if it stalls there. A live price action call. Much depends on whether we gap up or not. As usual, big gaps are not good, and flat or slightly up or down ones are. We want to be able to test those levels for direction cues in an entry.


ECPN

Ok, time to risk being early again, like with FRZ above, but oh well. High wave stick upper shadow and highest volume yet on this now over extending stock could yield a fade soon. Short into initial or early dumping on volume or traditional confirmed weakness cues. Keep flat on early strength/greening. Trouble here is the risk of yet another gap up. I do not want to top fish fade this, but it might be necessary on spiking up.


CRIS

A complete gap fill from its June drop, and now up after hours. Possible 3 test looming. Might spike up out of the open, or if it trades premarket and pulls back, it may feature a red to green move that can be longed. Not into a short here. If it looks weak early just keep flat over shorting. EOD exit if it holds up, long scalp if not.


BRN

Could use more volume, but what nice over extension. Closed on hod. Might have a bit more, with an 8 test looming, but I see this as top fish fade (which I rarely like) on dying momentum if it spikes up on open or early. Easiest route to that is another big gap up which spikes up, too. Less interesting is trying scalp the same spike long, but it might be possible. Also a fade on typical confirmed weakness cues or a dump from the bell or nearby. As usual, this will more likely result from a flat or slightly up or down open, which drops soon after.


PDFS

Demolishing 5 and 5.40 for new 52's, this one might have bit more. On weakness I am just flat. 6 test looming that might be longed on holds with volume and acceleration. Possible early red to green depending on how it gaps. I hope it does not bust past 6 on the open, but it might. If it holds on a test the long might still be viable.


LSCG

Probably has more left for a 4.50 test. An early attempt can be long scalped or held longer if that number holds. Similar the above stock in terms of particulars and suggestions. Also new 52's but less significant here. An early red to green for the long might also be in the cards. Dandy chart on the eyes.


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