Sunday, January 30, 2011

Watchers for the 1-31-11 trading session


See my analysis from last time for this recent Supernovae, which mostly still applies. A bit less volume but still enough. Now beginning to mature. Should pop this week.


Smashed through new 52's at 7.75ish, having hit twice earlier in the past 12 months. Almost reached 9.50 Friday but closed under 9. No run up into earnings, which prompted the big day. More upside might follow Monday, though the day of the surprise is best for longs. Possible early red to green long. Can add to position on a test of 9 with a partial, adding on a take and hold of it on volume, or again at 9.50+ etc. Not a short. Possible long scalp on spiking up at or near the bell. Keep flat on consistently weak price action.


Another earnings surprise with no run up. New 52's above 2.10 but closed under 2 on Friday. Potential long scalp at or near the bell on spiking up. Possible red to green long. No shorts. Keep flat on consistently weak price action. Longs can scale in, on the way to 2, adding on a take and hold of it on volume, and again on the same over 2.35 or so.


Junk with suspect profitability numbers releases 10K prior to the Friday session. No other obvious news, and it zooms up over 62.5% on the day. Call me skeptical. Add the usual desperate Yahoo MB longs claiming it is going to 2 clams a share, and we have a potential short. Fade on morning panic for at least a scalp or confirmed weakness cues for a day trade, if it opens flat or barely up green or red and sells off steadily. Avoid big gaps, especially down. No longs. Keep flat on greening.Wait for the sell off and stalk it until they do.


Supposedly, their sales doubled according to their press release. This caused a spike 60 minutes in, which closed green by over 134% on Friday. This is in play both ways, since it could spike up at or near the gun for a long scalp entry, or dive in the same period on profit taking, yielding a scalp fade entry. It is probably less likely a long will be an EOD exit as compared to a distribution entry, since it is up so much already, etc.


This should have a bit more green left. See my analysis from last time, it mostly still applies. Should have greened Friday but for the weak close. If long it will need constant watching. The dump short will be killer.


Another 9 test looms. Closed under a bit but hit 9.09 on Friday. Earnings catalyst. Conditional entry, if it takes and holds 9 on volume with acceleration it is a long, with hopefully an EOD exit. Long scalp possible on at or near bell spiking up. Avoid shorts. Keep flat on consistently weak price action or immediate dumps.

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