Tuesday, July 30, 2013

Watchers for the 7-31-13 trading session


First red day Supernovae. Finished down over 33.5% 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 very likely given the big red result of Tuesday. 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.


Another 1st red session Supernovae, see my comments on approach angles for the above stock. Similar situation. This one fell over 20.5% today on significant volume. Might still have some gravy fading to exploit.


Treat this as per last time, as an initial red day Supernovae. It rose almost 18% today, but it's still overdone and could fall yet again tomorrow. Fairly big volume, too. Set a stop over 1.51 or so.


See my comments on USU. Similar situation and approach. Another 1st red day Supernovae scan, this one fell over 20% today on peak big volume. It might have some gravy nevertheless to short into. Maybe.


Same situation here as for ENZR. Another initial red session Supernovae. Fell 20% on medium volume, so some gravy fade possible with luck and weakness cues. Set stop above 3.17 at most.


New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume modest 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, see my comments of the above stock, which it resembles for entry/exit/trade management angles. A 2 day move up on peak huge volume today, it might yield a short on weakness.

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