Tuesday, January 25, 2011

Watchers for the 1-26-11 trading session


First red day Supernovae. Finished red by less than 6.5% last time, so more down side might surface. The plan is to play for more reddening on day 2. Conditional entry. A flat, nominally green or red open that immediately sells off on heavy volume or sports traditional confirmed weakness cues is a fade entry. Keep flat on greening or strength, especially early. Avoid entries as a short on big gaps up or down, but down is probably worse.


See my analysis for NVGN which mostly applies here on the first red day of Supernovae. Lots of promotion here, though, so keep that in mind. A true dump might surface, and it fell less than 7.5% today, so more reddening might follow. This sucker has a tendency to be choppy and whipsaw, so be aware. Check today and before the open Wednesday for new promotion on it as a guidepost on the odds of more reddening.


This has been on fire for longs lately, and has now gone Supernovae as a scan return. Still maturing and the biggest volume yet, so it might not be done. If afraid, box and drop. Avoid trying to top fish. Chase bloody waters, not sharks. Big gaps again not ideal, especially as they tend to encourage top fishing. A fade on massive early sell dumps and confirmed weakness cues. Such plays often go on longer than is sane, but entering long now is a bit daring except for a spike scalp. Wait for the wheels to start coming off, then enter. FNMA has a similar chart, but this is the one that showed up on my scanner.


Over extension had its first red day today. We might get a bit more reddening as gravy tomorrow, given it fell less than 6.5% today. Avoid longs, keep flat on early strength/greening. Fade confirmed weakness cues or morning panic. Easiest route, as usual, is a flat or barely green or red open, then a clear move south to fade into. Avoid big gaps either way, particularly down. Not enough volume for the shorts today, would like more.


This initially broke out on January 10th. Now it is just absurd, but I like this on a red to green move and a 4 test if it takes and holds that on volume with acceleration. Slightly down after hours. Not a short on a failed test of the above level or a dump from the gun, just keep flat on that or obvious weakening. Long also on spiking up at or near the bell, for a scalp probably.


Contract winner that soared almost 56% today and is up some more after the bell. In play both ways. I want to scalp this long on more idiots arriving at the gun or near it on spiking up. Also possible is a gap (up) and crap. That can be shorted, especially if it actually goes red and holds on volume. Also a short scalp on morning panic. It's possible today's price action will see a smaller scale encore, with a close off the highs but green. A live price action situation, unclear which way its going until tomorrow.


Possible 1.00 test which is a long on a take and hold with volume and acceleration. Keep flat on a failed test. Also stay out on big dumps at the bell or even confirmed weakness cues. This might squeeze, it reached into the previous session candle today before closing well above. Might involve an early red to green. Avoid any big gaps here. Article today here: http://ca.hotstocked.com/article/3742/great-western-minerals-group-ltd-cve-gwg.html


Not sure what to make of this Pinkie. I see no obvious news. Could be a Stinkie, but up over 64% today. Might see an early/from bell spike up to long scalp. If it just advances up inching, hold time might be a lot longer for the Bulls. Might dive at or near the bell for a short scalp. A fade on conventional confirmed weakness cues, which are more likely on a flat or barely up or down debut. Another live price action game. Some resistance at 0.26 and then nothing until 0.33 so it could run if it gets over 0.21 and holds the price.

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