Wednesday, October 26, 2011

Watchers for the 10-27-11 trading session


Having breached 1.82 this might push on to 2 before a possible retreat. It's a long with constant monitoring on positive price action or on spiking up at or near the gun as a scalp. Watch pull backs to hold 1.80 first if entering that way. Avoid or sell under that area. Reassess at 2 and beyond, which could go either way.


New Supernovae scan return. A 5 day move up which closed above the open and under the hod. Volume increasing days, peaking 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 Thursday 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. Reversal soon.


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 (7.91) and holds. Avoid shorts, keep flat on true weakness. Nice daily chart price consolidation escape. Volume large today, a poor sign for new buys. Float a tad modest. Needs to keep above the Wednesday close or at least over 7.75 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed down on Wednesday a bit less than 2% but below the open via a gapper. Stop above the previous day session high (2.33) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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. Medium sell volume on Wednesday which means it might work out well enough. 2 fail would be ideal, it held today. If it goes it might have bit more still for shorts.


Bullish Engulfing. I like this long over the high of Wednesday. Modest volume on the rise, which is a decent 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is likely too far away to use for risk management via stops. Must keep above 11.75 on pull backs to remain viable as a long. Ideally, it remains over 12. It has some support at 10.50ish. No big gaps or shorts. No A/H quote.


B/O scan. I like it long above 6.41. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is possibly a bit 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 decent sign for new buys. No A/H quote. Get out under 6.20, certainly 6. An early test/perk off the former ideally prefaces entry.


This is in play both ways. On a B/O over 21 and holds or on spiking up at or near the gun as a buy scalp. And as a short on spike downs at or near the bell as a scalp or confirmed weakness cues or a 1.00 fall fail and holds. Resistance there is being challenged from August. Pinkie Stinkie so be careful. 3 White Soldiers.

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