Friday, May 11, 2012

Watchers for the 5-14-12 trading session


New Supernovae scan return. A many day move up which closed under 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 Monday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime 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. Ignore A/H quotes. A 2.25 fail of some kind may prove pivotal.


Red floater scan return. Idea is to play for more down side on day 2. Ended up over 0.5% on Friday via a gap up that closed below the open after 3 up days. Stops just above 6.97 to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Strong volume on Friday which means it may have unclear chances for shorts. Avoid all big gaps, especially large gap downs. No buys. No A/H quote.


B/O scan. I like it long back over 2.03 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday 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 tepid sign for new buys. Exiting below 2 on fails after trigger entering might be prudent. Early r/g? Up over 1.5% 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 (over 0.86) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Friday, a decent sign for new buys. Needs to keep above the Friday close or at least over 0.80 on pull backs to remain viable as a long, aside from any early noise.


Bullish Engulfing. I like this long over the high (13.36) of Friday. Solid volume on the rise, which is a weak 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 Friday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 13 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Up less than 0.5% A/H.


A daily chart eying a potential B/O with a rough cup correction interim over 6/holds. No shorts, keep flat on really weak price action. Modest buy volume today, a decent sign for potential longs if it triggers. Or on consistent moves above the noise candle, or as a scalp buy on spike ups at or near the gun. Avoid big gaps. No A/H quote. Resistance is clear on the chart the past few months at the above level. Possible swing play.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 8/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Down A/H about 3%. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 8 and keeps going a bit. Stops above today's high at worst. No longs. Low float.

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