Monday, May 14, 2012

Watchers for the 5-15-12 trading session


First red day Supernovae. Finished down almost 9% last time, so more down side might be possible. If it had fallen much more than 10% then less could be expected as plausible. Always watch day 2 of a busted one. The plan is to play for more reddening on day 2. Conditional entry. A flat, nominally green or red open that immediately sells off on heavy volume or sports traditional confirmed weakness cues is a fade entry. Keep flat on high volume greening or strength, especially early. Somewhat likely given the solid degree of reddening on Monday. Avoid entries as a short on big gaps up or down, but down is probably worse. Keep flat on consistently strong price action, like trading above the opening price level. Avoid spike up long scalps, too. Selling volume was medium strong, range more imposing. Relatively mixed signals for shorts.


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 4.54) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Monday, a tepid sign for new buys. Needs to keep above the Monday close or at least over 4.40 on pull backs to remain viable as a long, aside from any early noise.


Red floater scan return. Idea is to play for more down side on day 2. Ended down almost 1% on Monday via a gap down that closed below the open after 3 up days. Stops just above 10.89 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. Modest volume on Monday which means it may have unclear chances for shorts. Avoid all big gaps, especially large gap downs. No buys. Up A/H over 0.5%


Bullish Engulfing. I like this long over the high (2.37) of Monday. Low 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 not too far away to use for stops. Ideally stays above 2.30 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Down a bit less than 1% A/H.


B/O scan. I like it long back over 2.21 and holds. 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Rather modest volume on the rise, a fairly decent sign for new buys. Exiting below 2.10 on fails after trigger entering might be prudent. Early r/g? No A/H quote.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 2/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it holds 2 and keeps going a bit. Stops above today's high at worst. No longs. Unknown float. Pinkie.


A strong trending stock upwards that might even be a swing play on holds of 0.75 and perking off there. You can use Monday's low for a stop as a long. Low sell volume today, an unclear 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 all big gaps, especially up ones. Up over 1% A/H. No shorts, keep flat on really weak price action. You can buy also over the high of Monday, 0.81/holds. Has had 5 straight red days but still is in an uptrend.

Off table, eye GRPN for a top fishing short. It could fail at either 13.50, 13.75 or even 14. It's up A/H from a 11.73 close on Monday. Would have made a nice potential B/O anticipation play without the jump.

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