Tuesday, June 14, 2011

Watchers for the 6-15-11 trading session


Again, still in play is this rapidly maturing Supernovae. See my previous comments and those for BORK heading into the Monday session, they are similar in terms of entry/exit/ play management ideas. Volume fell a bit on the buy side, but it's still imposing and thus it may not be doe yet. Be patient, only fade clear weakness.


I am treating this doubler essentially like a 1st red day Supernovae, due to its 5 day return, etc. Finished down over 11.5% 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 somewhat more given the solid degree of reddening on Monday. Up about 4% 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 very strong, and the range was fairly wide, too. Not the best signs for shorts. Watch 3 for a fail as a hint.


New Supernovae scan return. A 1 day move up near 200% which closed off of the highs and above the open. Volume was stellar. 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. On a higher open, it might yield a rapid green to red on Wednesday and spike down for a short scalp. This might even be a gap and crap. 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 and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. Down over 1.5% A/H. A very low float so be careful of squeezes and if it reverses and greens get out with a manageable loss.


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 (9.16) and holds. Up A/H nominally. Avoid shorts, keep flat on true weakness. Nice move to make a new annual top price, with low volume which is a good sign for new longs. Needs to keep above the Tuesday close or at least over 8.87 on pull backs to remain viable as a long, aside from any early noise. Should be plausible over 9 to 9.15 to entertain as a buyer.


This has some momentum that might continue tomorrow. I like it long over 7.44 and it resembles the above stock (KKD) in terms of advised approach so see those comments for more information. New annual highs were not made today on this one, though. Yet they are just 3 cents above the close today. Low volume on the rise, a good sign for late to the party buyers if it triggers as outlined.


Bullish Engulfing. I like this long over the close of Tuesday or better yet the high. Modest volume on the rise, which is not a bad sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote change. Stops just under the low last time or the initial 30 minute one on Wednesday. More conservatively a stop placed under today's close, too. The low is a bit far away to use for risk management via stops so I would prefer the conservative approach or the one tomorrow. This past promotion could see a repeat of the moves in May after a green finish like today.


Another Bullish Engulfing play which is also a Parabolic Sar scan return. I like it long over the close of today or the high of the same. Modest volume on the rise, which is not a bad sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote.Stops need to be placed just under the close today or the 1st 30 minute low of tomorrow. The low today is too far away to use in controlling risk. Clearly this must hold above 8 to be viable as a long in any event.

Still a bit cheap for my official list, GBTR again advanced hugely on no obvious news. Not sure about promotion. It has to be a shorting target soon on clear weakness, but not before. RYUN is beginning to over extend, but might have a bit left. Volume on the buy side is at least tapering off, it's a short on real weakening.

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