Monday, November 14, 2011

Watchers for the 11-15-11 trading session


See my previous comments, still in effect for entry/exit/play management angles. Closed unchanged on low volume. An old Supernovae scan that is making another appearance. Shorts only if it weakens as specified.


A 1st red day Supernovae yesterday that advanced around 5.5% or better today. I still think it may yield a short, if confirmed weakness cues surface or it panic dumps. The danger is consolidation. Entering under today's low and stops placed above 0.50 or more liberally over 0.52 might be advisable. Avoid all big gaps.


Again, see my previous comments, still mostly applicable. 2 red sessions on very small volume might not be such a bad thing for more down side, or it might break out of the near pennant like formation of consolidating on this recent Supernovae. A live price action call, with a post noise candle long over today's high or a a scalp buy on spike ups at or near the gun, or a fade on panic dumps or a move under today's low. No A/H quote change. Avoid all big gaps.


A big dump and another sizable red session today with declining sell volume, this bottom fishing play is a long on spiking up at or near the gun as scalp or a buy on moves above the open after the noise candle. A bounce play similar to PPT from last time, see those comments for additional insight. Up A/H over 7.5% which is less than desirable as a rule for our purposes but might help with an early red to green entry. Catching a falling knife is always risky, so do not be surprised if this reddens again and gap fills. You have to tread carefully, searching for a washout to purchase into that you think has some legs aside from noise.


B/O scan. I like it long above 1.18. 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 arguably not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Sizable volume on the rise, a poor sign for new buys. No A/H quote. Some resistance around the mid 1.20's which if taken and held, could yield more gains. Pull backs must hold 1.10.


Bearish Engulfing/Red floater. I like it short below the low of Monday. Moderate volume on the drop, which is a neutral sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is not too far away to use for risk control via stops. Must keep under 1.75 on any pull ups to remain viable as a short. Avoid all big gaps/longs. Down a cent A/H. A test and fail of 1.50 before entering might be prudent. If it makes it back over it might be an omen of resurgence up.


Bullish Engulfing. I like this long over the high of Monday. Small volume on the rise, which is a good 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 likely not too far away to use for risk management via stops. Ideally stays above 5.00 on pull backs to remain viable as a long. No big gaps or shorts. No A/H quote.

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