Wednesday, September 05, 2012

Watchers for 9-6-12 trading session


First red day Supernovae. Finished down more than 28% last time, so more down side might not be in the cards. If it had fallen much less than 10% then more 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. This rather likely given the clear red result of Wednesday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was fierce, range more so, bad signals for new shorts. Stops over 0.71 at most.


Again, see my previous comments, mostly still applicable. It daily doji printed, on lesser buying volume, a good topping out sign. Place a stop above the Wednesday high or use Thursday's 1st 30 minute one.


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 12.72) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume moderate Wednesday, a middle of the road sign for new buys. Needs to keep above the Wednesday close or at least over 12 on pull backs to remain viable as a long, aside from any early noise.


B/O scan. I like it long back over 9.82 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is likely 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. No A/H quote. Exiting below 9.50 on fails after trigger entering might be prudent. Early r/g buy?


Bullish Engulfing. I like this long over 15/holds. 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is possibly too far away to use for stops. Ideally stays above 14.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 15+ is the key here.


Yet again see my previous comments, mostly still applicable. This low float short squeezer took 2+ as predicted, and more may follow for buyers. No shorts, keep flat or exit on a clear defeat of 2 if it initially holds on a test. OTC stock, keep that in mind and use caution. Buy volume fell in half Wednesday, too.


Looking for a bottom fishing risky bouncer here long with a stop just under the low of Wednesday or the initial 30 minute on Thursday, whichever is most feasible. Despite a 30% plunge purge today it might not be done so honor stops. A buy is signaled back over 1.00 and holds. Up over 6% A/H over our trigger, so ideally it tests and holds a buck for entry purposes first. Also long on spiking up at/near the gun as a scalp.

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