Tuesday, May 28, 2013

Watchers for the 5-29-13 trading session


Supernovae, still maturing. See my previous comments, still applicable. Rose on a bit less volume but still strong, over 34% today. Shaping up as a great top fishing short.


See the above stock, and the comments for last time on this related Supernovae play. They are still intact. Rose over 32% on lessening volume which was still strong. Shaping up to be a fine short for top fishers.


New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume moderate most days, peak Tuesday. 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 scalps. 


Another new Supernovae with similar price action to the above stock, see my comments there for more details. This one had big volume the past 2 days, and neither are up appreciably A/H. Potential short.


New 52's. Short term, these yearly high stocks often 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 1. 82) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Tuesday close, or at least above 1.75 on pull backs to remain viable as a long, aside from any early noise. Up A/H over 1%.


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 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 poor sign for new buys. No A/H quote shift. Exiting below 2.15 on fails after trigger entry is possibly advisable. Early r/g?


Red floater scan return. Idea is to play for more down side on day 2. Closed south 1% or so on Tuesday off a flat open that ended below the debut. Stop just above the Tuesday session high (8.49) 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 sell volume on Tuesday means it might have some chances to work. An 8.38 fail would be ideal. Avoid big gaps/longs. Panic dump?

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