Monday, July 29, 2013

Watchers for the 7-30-13 trading session


Yet again, see my previous comments. Supernovae, still maturing. Rose today on nearly peak volume almost 50%. Up A/H a tad. Potential short, no more longs.


Another rapidly maturing Supernovae, this rose over 34% today on peak volume. Potential short. Up over 0.50% A/H. No more longs.


First red day Supernovae. Finished down under 20% 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 is rather likely given the big red result of 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was fairly strong, range too. At best, substandard short signals.


See my comments above for this initial red day Supernovae (in effect). Management of the trade is roughly similar. It fell over 5% today but on very modest volume. May have some gravy on a potential fade. Up A/H almost 2%. No more longs.


New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest most days, peak Monday. 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 Tuesday 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.


See my comments for the above play, this is yet another new Supernovae scan return, by far my favorite play!  A 1 day move up that closed above the open and under the highs on peak volume from mostly modest volume sessions in the days preceeding today. Up A/H almost 9%.


In play both ways. As a long on continuation of momentum above 7.22/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 7 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 7. The fade is more likely given the price action on Monday, but keep an open mind. Up A/H about 1%. Modest float mover on news.

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