Monday, October 10, 2011

Watchers for the 10-11-11 trading session


See my previous comments. Still in play in much the same way, this Red floater with 7 out of 8 up days greened on a gapper again today, but volume is waning. Place a stop just over the high of today or Friday.


New Supernovae scan return. A 1 day move up which closed above the open at the hod. Volume modest most days, huge today. 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 Tuesday 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. Up over 9.5% A/H.


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 (5.26) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice daily chart, needs more volume, but that was a tad high today for new buys. A bit low on float. Needs to keep above the Monday close or at minimum over 5.00 on pull backs to remain viable as a long, aside from any early noise.


Over extension shorting candidate that has seen 7 straight up days, the biggest coming today. Fade on confirmed weakness cues or morning panic like dumps at any time. Avoid big gaps down and longs. A big gap up might be a gap and crap fade, but that will require some top fish calling. A scalp short on spike downs at or near the gun. Place a stop just over the high of today, around 3.50 and heed it. A low floater, it might not be done yet and could easily squeeze if that level is conquered to the upside. No A/H quote. Chinese one.


Bullish Engulfing. I like this long over the high/close of Monday. Modest volume on the rise, which is a fair 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is possibly not too far away to use for risk management via stops. Must keep above 1.15 to remain viable as a long. No big gaps or shorts. No A/H quote change. A Scamex stock.


B/O scan. I like it long above 8.31. Ideally this stays over 8.00 on tests aside from early noise. Stops also 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 possibly not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. No A/H quote.


In play both ways. First, on a fall fail back under 3 and holds if it opens flat or just over that or nominally down and fast hits over and returns early. Resistance thereabouts is clear. Or on spike downs at or near the gun as a sell scalp. Or as a long on a take and hold of 3-3.02+ or on spiking up at or near the bell as a buy scalp. Since the area has so much recent topping at the above level, any move respecting it is telling. No A/H quote. Avoid all big gaps. Low volume on the rise, which helps longs but is not as favorable to short set ups.

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