Monday, March 21, 2011

Watchers for the 3-22-11 trading session


See my comments from last time. Choppy, but unchanged finish relative to the previous close means most all of my analysis for entries/trade management are the same for this new Supernovae scan return. Possible short.


As I just said above, see my comments for last time, they mostly still apply. Essentially unchanged relative to the previous close, this 1st red day Supernovae scan return is still in play the same way. Potential short.


Brand new Supernovae scan return. Up after hours over 10.5% to almost 3 bucks. Strongest volume yet, but it closed well off of the highs. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. Up after hours, it might yield a rapid green to red on Thursday and spike down for a short scalp. 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. A long scalp on spiking up from or near the bell is still possible if it keeps up. Some of the above short scenarios are more likely to be held more. Key is how it reacts to another test of 3. If it takes and holds that with volume and acceleration, it could be longed. Most of these plays are unsuitable for that.


Now a new Supernovae scan return in theory, this beauty of a long for days officially hits the over extension territory. As such, analysis and play management resembles that of PRAN above. However, keep in mind this is probably being manipulated, a steady rise in inches that advances over 100% in 5 days with price action like this means it has a different storyline behind it than most such plays of its ilk. Do not try to top fish it, once the dump sets in it's likely to drop days of gains in minutes, so wait for clear weakness to enter. This is a good candidate for boxing to drop, by the way. Speedy weak price action would help, but borrows are a factor. This is still a long on gap up inching and trading over the opening price level after 5 minutes, but very risky.


See my previous comments on this for several days now, for entry/play management tips. Big change here at this point though is it looked like toast today. Instead, after what looked like at gun morning panic it reversed and went green and held, which probably means some hidden hands with plenty of firepower want it to keep going on. Shorts were faked out and squeezed and the beat went on. More of the same could follow for now, or the bottom could drop on Tuesday. A live price action decision. A long on gap up inching and otherwise printing prices above the opening level after 5 minutes. Short on morning panic style dumps whenever they arise or confirmed weakness cues. The long will require constant monitoring, but this might make it to 1.50+


Not exactly a penny stock, I know. New 52's. 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 to debut or opens flat and falls briefly, a red to green and hold with strong volume. 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. Avoid shorts. No after hours quote. PR not exactly earth shattering, but probably helped today. Nice break out though. 12 test coming that will weigh in.


Nice pump that that is reaching a crossroads. Down after hours close to 4.5% now, a rapid red to green and holds might be cautiously longed. Alternatively, it might dump hard out of the gate. That is at least a short scalp, given the run so far. Might be held longer if it keeps weakening. A live price action situation again. I suspect this is not done yet, so a long is possible with constant monitoring and a hand on the sell button or mouse, if it sports positive price action and recovers the flat line early in the session and perks up off of that.

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