Tuesday, July 17, 2012

Watchers for the 7-18-12 trading session


Again, see my previous comments, little has changed. Bounce possible. Consider though no obvious support is to be had until like 1.24 so it may not be done selling off on low volume yet. Stop under today's close o or low, or use the initial 30 minute on tomorrow. No A/H quote. Low float mover.


New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume low 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 Wednesday 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. A 1.75 fail of some kind may prove pivotal. Up A/H over 1%.


Another new Supernovae. See my comments for the above one, which this play roughly resembles. 2 day move up closed below the highs above the open on big volume both times. Down A/H a bit over 0.5%. 1.50 fail ideal here. Some resistance at 2 for small positions that are risking more. Others follow usual guidelines.


Red floater scan return. Idea is to play for more down side on day 2. Ended red over 2.5% on Tuesday via a gap down that closed below the open after many up days. Stops just above 19.97 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. Medium sell volume on Tuesday which means it may have neutral chances for shorts. Avoid all longs and big gaps, especially large gap downs. Up a tiny tad A/H.


B/O scan. I like it long back over 7.50 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 7.25 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over the high (11.74) of Tuesday. Low 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 11.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.


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 4.36) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a poor sign for new buys. Needs to keep above the Tuesday close or at least over 4 on pull backs to remain viable as a long, aside from any early noise. Up A/H a tad.

Keep an unofficial eye on ALJ a 3 White Soldiers play with resistance @ 10 which may be broken tomorrow or soon for a breakout over that and holds, or a scalp buy out of the open based upon that.

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