Monday, September 12, 2011

Watchers for the 9-13-11 trading session


First red day Supernovae. Finished down over 21.5% 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 possibly a lot more likely given the large degree of reddening on Friday. 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 modest, range more substantive. Mixed signals for new shorts.


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 (4.47) and holds. Avoid shorts, keep flat on true weakness. Nice chart. Volume on the move up medium, which is a neutral sign for new longs. Needs to keep above the Monday close or at minimum over 4.25 on pull backs to remain viable as a long, aside from any early noise. Exit under 4 surely. No A/H quote.


Bullish Engulfing. I like this long over the close or high of Monday. Low volume on the rise, which is a nice sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Monday. More conservatively a stop placed under Monday's close, too. The low on that day is too far away to use for risk control via stops. Might accelerate above 0.70 and amid news blurbs. Avoid all big gaps or shorts. An old OTC favorite perking off support.


This one may have promotion behind it. An incher, this one is a long on more of the same above the close/high of Monday and holds. Avoid all big gaps, and monitor it live constantly. These things tend to work for some days then explode for big drops in minutes on unwary longs, so either wait to fade (possibly boxing to drop) or keep your mouse handy. Also long as a scalp on spiking up at or near the gun, the least likely price action.


See my previous comments for entry/exit/play management tips. Little has changed for this Red Floater play. If we can break under 8 and hold it might pan out for shorts. Not into longs now, stops a bit above 8.37ish.


Appears to be consolidating, but might be shorted on a fall fail back under 1 and holds, or short scalped on early dumping with volume similarly. An unofficial watcher last time that got ruined on a big gap down. No longs, though in theory it could take out 1.07+ and keep going off basing. Stops not much above that point.


B/O scan & Bullish Engulfing. I like it long on a continuation play above the close or high of Monday. Needs to stay above 4.00 on pull backs to remain viable for longs. Stops are possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign. Down over 7.5% A/H so it might not trigger unless it trades in pre and erases that.

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