Wednesday, April 13, 2011

Watchers for the 4-14-11 trading session


Once again, now that this has weakened, the idea is to play for more gravy selling to short into on day 2. Fade only confirmed weakness cues or heavy sell pressure dumps. Avoid longs for tomorrow, keeping flat on sustained positive price action .Ideal would be a flat or nominally up or down open followed by immediate moves south. 4/6/11 it printed red and the next day was a dud, let's hope this one turns out different. If it keeps going up after consolidation, it would need to solidly take control of 2.50+ at any rate.


I hope this is not just consolidating, it had little volume and finished unchanged. See my comments from last time, they still apply to this weakened former Supernovae play. I am looking for more down side gravy here. It weakened intraday but closed unchanged from the open and the previous session close. Avoid longs here, keeping flat on sustained positive price action.


Supernovae, still maturing. See my comments from last time, they mostly still apply. Waiting to fade it when it begins to distribute. It whipsawed a bit today which I hope does not encore Thursday. No longs anymore.


First red day Supernovae. Finished down over 36% last time, so more down side might not be realistic. If it had fallen much less than 10% then more could be expected as plausible. Always watch day 2 of a busted one. 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 high volume greening or strength, especially early. This is a lot more likely given the high degree of reddening on Wednesday. Down barely  more after hours. Wait for a fail. Avoid entries as a short on big gaps up or down, but down is probably worse. Keep flat on consistently strong price action, like trading above the opening price level. Avoid spike up long scalps, too. Sell volume was fairly big, not a good sign.


Cheapie up big recently and really amazing today on no obvious news/promotion. I am flat on more greening/positive price action, but it would not surprise me if it keeps going a bit more. Short on confirmed weakness cues or heavy sell pressure dumps. Ideal would be a gap and crap or a flat or slightly green or red open that dives soon after. A Pinkie, so be careful here. Shares might be hard to obtain as well, best of luck.


I like the early feedback potential on this chart with its price correction over many weeks and the possibility that stops can be modestly applied for risk management pluses. New yearly highs are at 4.75 which is nearby for a test. No after hours quote. I like it long on an early red to green or a move on volume and holds above the annual high. Or just consistent moving up to test that and beat it. I like it short on a failed test of the same. A stop can be tightly placed here for shorts or longs, given the support/resistance areas that are fairly close. It might hit 5 if it can succeed on the new 52's, so swing traders could be onto something here.


A high profile upgrade and break out with great volume. I like this on more optimism from the gun or shortly after for a long scalp on spiking up. A possible longer hold if it continues to advance. Down slightly after hours, so an early red to green is a possibility for the long. No shorts, keep flat on enduring weak price action.

Unofficially, I am watching CAK in much the same way as GTXI above. See that for details on entries, up after hours, though. ESYL the incher died today, but it might have more red gravy to fade on confirmed weakness cues or morning panic style dumps, but it fell too far today to optimistic about. KBLB up on news, might have a few more idiot buyers to long scalp into on open or near the gun spikes up, but do not bet on it. This one might gap and crap or dump from the bell as well for the fade, too. A live price action call tomorrow.

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