Sunday, March 13, 2011

Watchers for the 3-14-11 trading session


Supernovae, now maturing. Strongest volume yet on the rise up. See my comments from last time, they mostly still apply. The key is simply waiting out for the distribution day to arrive, boxing it, or acting after the 1st red day if you are especially conservative.


This would be over extension has now gone Supernovae, so it's a new scan return of one. Strongest volume yet on the rise, but it closed well under the highs. Hopefully it is correcting soon. If it gaps up, it might yield a rapid green to red or gap and crap entry on Monday. I am in cash on any strength/greening. More of a gradual rise over 5 days. Conditional entry. A fade on confirmed weakness cues or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box to drop if you do not want to buy and prefer to wait for the distribution print, avoid top fish timing fades.


See my comments from last time for this 1st red day Supernovae play. It finished unchanged on Friday due to a gap down and fill, so it's in play again in the same way essentially for gravy down side. Fade weakness only.


Something is up here, promotion or whatever, the volume action is quite curious and interesting. Possible gap and profits, so if you are already in Friday and holding, you are really in business. Still, it might yield a bit more upside Monday before profits are taken, which means an early long scalp on spiking up at or near the open or inching along up for the morning. There's always a chance it could print acceptably green again. You might also read: Obviously it's a fade on confirmed weakness cues or morning panic style dumps on volume, etc. Very in play.


Presuming the broader market holds, this new 52's could be a speculative long play based on positive reaction to recent earnings and the Japanese crisis. It deals with tissue damage issues, etc. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit or opens flat and falls briefly, a red to green and hold with strong volume. No after hours quote. Avoid shorts, keeping flat on any signs of enduring weakness. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs and holds.


Nice Bullish Engulfing pattern. Not new 52's but analysis is similar to that for ANIK in a way. See that for details. Earning related surprise and should have more upside (assuming the Dow holds up) since it fell steadily since 2/18. To play this, one can place a stop a bit below the previous session low and go long on consistent trading above the close on Friday or over the high of Friday. More conservatively, the stop on half of the shares can trigger a bit below the Friday close if one enters above it Monday.


The Stock Psycho supposedly pumped this Friday, and it advanced over 1,350% by day's end. Read this: Potential short on confirmed weakness cues or morning panic style dumps at any time. Hard to believe new fools arrive to buy even at the bell at this point, and even if they do I am flat on that and will wait to fade the drop.

Unofficially, I am also monitoring CTIC both ways on Monday. It is a carcass that saw great spiking and volume on Friday, due to FDA guidance news over one of their trials. It might yield a long scalp on a spike up at or near the gun from new foolish optimists. Alternatively, it might panic dump instead for a scalp short. A live price action situation. I'd hesitate to hold a long longer than a scalp. The short might hold up a bit longer.

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