Monday, October 31, 2011

Watchers for the 11-1-11 trading session


Supernovae, still maturing. See my previous comments for general entry/exit/trade management tips. Most are unchanged. Volume is diminishing, surely a good sign. Be patient, and only enter when it falters clearly. Stops a bit over 2.51 at the most or use the previous close or initial 30 minute high of Monday. No A/H quote.


New Supernovae scan return. A 5 day move up which closed off of the highs and above the open. Volume increasing most days, now huge. 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. OTC cheapie here.


Another OTC cheapie new Supernovae, with a 3 day move up and big volume on day 1, medium level on day 2 and peak buys today. Also closing above the open and below the high. See my comments for MNLU above for general hints on entry/exit/trade management aspects where applicable. Stop a bit over today's high if aggressive. On a 0.50 fail fade you can exit a bit above the close today, or the 1st 30 minute high Tuesday.


This might not be done yet, but rather than say just review my previous comments, I'd say at this point I am no longer long, even with constant monitoring. I'd stay flat on more greening. Biggest volume yet. It might run clear to 2.50 before the dump, but that's what I'm waiting for. A fade on confirmed weakness cues or panic dumps, especially early. Several sessions worth will likely correct in minutes on the fall day. An OTC at 52's.


Red floater scan return. Idea is to play for more, better down side on day 2. Closed essentially unchanged on Monday from a gap up open. Stop above the previous day session high (1.45) 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. Low volume activity on Monday which means it might work out well enough. An 1.38 fail would be ideal, it held last time. If it goes it might have bit more still for shorts. A Pinkie, keep that in mind.


Again, see my previous comments, mostly still in force. Seems to have hit a ceiling at 2ish. Stops just above that if shorting on confirmed weakness cues or panic dumps at any time. A noted buy-in has fueled the move, but profits are bound to be taken at some point. 5 of 6 up days, on medium to big volume. You can try to top fish at near 2 if it tests and fails there Tuesday, as well. Honor stops above there. No longs at this point. Over extension play that seems to be peaking out and might yield some gravy tomorrow.


B/O scan. I like it long above 2.47. Ideal to stay over that on tests aside from early noise if it triggers. 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 not 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 decent sign for new buys. No A/H quote change.

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