Wednesday, March 02, 2011

Watchers for the 3-3-11 trading session


Supernovae, still maturing. Another big up day. Some weakening despite the gap up. Volume is declining, but it keeps making new highs. See my comments for last time, they still apply. Do not top fish this, wait for confirmed weakness cues or morning panic style dumping to fade it. Be patient.


See my comments for ROYL which are quite similar to this one in terms of entry strategies and storyline. Also see my comments for this stock over the past week, which also have changed little. Both started near the same time to confound early and naive shorts. To short like a pro you have to patiently stalk your target.


While this technically continued to inch, it is seriously over extending by now, and weakened significantly before bouncing back to finish positive by 2% today. A fade on confirmed weakness cues, which hopefully will not whipsaw chop like today. Also a fade on morning panic style dumps on heavy volume, at any time. Keep flat now on early strength, avoiding longs. Ideal is a flat or nominally up or down open that heads south at once. Panic dumps are short scalps and the other entries on fades are possible EOD exits. 9 up days now.


Soared over 79% today on the back of the oil crisis. 4 test looms. Up after hours to 3.95 it might sell off for a big dump at 4 to fade scalp into. Alternatively it could take and hold 4 on volume for a long entry, which might be held longer, maybe even EOD. A long scalp also on spiking up on volume from or near the bell. It could dump from or near the bell in panic for a short scalp as well. Any fading is a lot more scary than going long as that is where the momentum is given the situation in Libya, etc. It only has fade potential via being overbought.


Price correction for months nearly complete as this missed new 52's at 3.42 reaching 3.33 today after earnings report showed huge revenue gain. Up a bit after hours, this could go higher and challenge a new yearly high tomorrow or soon. Possible long scalp on spiking up at or near the bell. Possible longer hold if it just climbs steadily holding above the opening price. Keep flat on all lastingly weak price action. Often times a stock like this will quickly drop out of the gate and come storming back with an early r/g for a long entry.


Really cheesy energy/oil crisis cheapie stock up nearly 200% on no obvious news today. I am looking to fade this on confirmed weakness cues or morning panic style dumps on volume at any time. Avoid longs, keeping flat on consistently strong price action. Avoid all big gaps. I imagine this one does not have staying power.


Huge momentum on this one. Up after hours, at 6. No test from below consequently. Key is how it reacts to that price. If it holds and spikes up off that, a long is possible. This is good for a scalp at least, and a longer hold if it just steadily advances above the opening price. If it falls under 6, keep flat as it might come roaring back to squeeze shorts on a regaining of 6. Nice chart and volume last 2 days on a break out from consolidation. I would just avoid shorts altogether if a tenable long does not arise. Oil and gas are too hot!

Unofficially, monitor  AMZG for signs of further cracking. We finally had a red day today, possible gravy tomorrow. Keep an eye on TIV which is another red hot oil and gas related play for more greening. TGC is another energy watcher for similar gravy greening tomorrow, though not on my official list, SYNM is, too.

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