Tuesday, September 04, 2012

Watchers for the 9-5-12 trading session


Supernovae, still maturing, finished unchanged. See my previous comments, mostly still applicable, though the the volume on the print was pretty substantial. Still looking to fade this for a victory.


Again see my previous comments, mostly still identical. Looking to short this on over extension back under the close today or also 5.50. Possible top fish fail fader at 6ish, but that's more risky mind you.


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 15.18) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume decent Tuesday, a middle of the road sign for new buys. Needs to keep above the Tuesday close or at least over 14.50 on pull backs to remain viable as a long, aside from any early noise. Nice break over 14 and holds.


B/O scan. I like it long back over 10 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 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. Moderate volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 9.75 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over the high (9.89) of Tuesday. Modest 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is possibly too far away to use for stops. Ideally stays above 10 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 10+ is the key here.


In play both ways. I like this long over 2.25 and short on a fall fail back under 2 or a rebuffed attempt. Could use a bit more volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that fails 2 successfully for a short. The previous session high must be broken to go long, merely holding 2 is not enough. As usual, heavy volume spikes up or down are scalp bait with discretion.


Low floater I like long on a 2 break and holds. Trigger entry only please. No shorts, despite appearances of over extension. High today was 1.95 so optimists can buy above that at their own risk. Spike ups are scalp buys for some with the same disclaimer. OTC stock, be careful here.

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