Monday, June 13, 2011

Watchers for the 6-14-11 trading session


Supernovae scan return, still maturing. See my previous comments for entry/exit/play management tips. See also my comments from last time for BORK which this play resembles. Biggest volume yet on the rise, so it might not be done yet. Do not try to top time it, fade only weakness as usual. It will drop soon enough.


First red day Supernovae. Finished down over 18.5% 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 more given the high degree of reddening on Monday. Down about 1% A/H. 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. Selling volume was fairly strong, as was range. Not the best signs for shorts.


Has not shown up yet on my Supernovae scan return officially, but 5 days ago this opened at 1.40 and it's now 3.40 as of the close today. So, it's a doubler at least. Should tentatively be treated as a new Supernovae scan return which means my comments for BORK last time are a rough guide so see those. Biggest volume yet on the rise, so it might not be done yet. Do not try to top fish this, wait until it clearly weakens. Even then, that might not be enough given its low float, which is a squeeze magnet for shorts. If you enter logically and it reverses and greens, get out as soon as possible, do not argue stubbornly with positive live price action!


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 (5.70) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice B/O to make a new annual top price, with big volume which is not the best sign for new longs. Needs to keep above the Monday close or at least over 5.50-5.40 on pull backs to remain viable as a long, aside from any early noise.


Nice chart with correction and near annual highs. Missed those by a cent today. Analysis resembles any typical new 52's play, like RUTH above, so see those comments for general tips on entry/exit play management and such. Possible early red to green long, or long on new yearly highs and holds or spiking up at or near the bell for at least a long scalp. Keep flat on real weakness. You are anticipating a B/O here, etc.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed lower than it opened but still positive due to a gap up. Volume on the buy is declining, a good sign. Stop above the previous session high (14.50) or another recent one at 15.50 to cap losses on head fake fade entries. More conservatively, stop above the close on Monday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. 14 test is also key.


This one has a lot of momentum that might continue, now that 4 has been taken and held. A throw back to the old Swine Flu craze with recent news fueling the run this time, I like this long on a a test and hold of 4 or pseudo weakness early with a speedy red to green move to buy into. No A/H quote. It might fail its 4 test but I am flat on that or any real weakness. Some might argue that would be a possible fade, though. Also a long on spiking up at or near the gun as a scalp buy. A live price action call as it all comes down to the 4 reaction.

Off record, 2 cheapies I am looking to fade on weakness or morning panic like dumps whenever they occur are HOUM and GBTR which were too inexpensive to make my regular list. No obvious news out on them. Not sure about promotional angles but they look like sell offs waiting to happen. No top fishing, though.

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