Friday, August 02, 2013

Watchers for the 8-5-13 trading session


Supernovae, still maturing. See my previous comments, still in effect for entry/exit trade management angles. Closed up a bit on lesser volume. Hoping to short on weakness.


See my previous comments. Treat this as a de facto 1st red session Supernovae. It closed down almost 5% Friday, so some chance for gravy fades exist, given how much it is up already. Down almost 5% A/H so tread carefully and wait for it to shake out Monday before any possible entry.


New Supernovae scan return. A staggered 5 day move up which closed below the highs and above the open. Volume varied most days, huge Friday. 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 Monday 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, no scalps.


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 7.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 7.31. Needs to keep above the Friday close, or at least above 7.50 on pull backs to remain viable as a long, aside from any early noise. Down over 5.5% A/H so allow it to shake out early first before entering.


B/O scan. I like it long back over 2.42 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a decent sign for new buys. Down A/H less than 0.50%. Exiting below 2.32 on fails after trigger entry is possibly advisable. Early r/g?


In play both ways. As a long on continuation of momentum above 3.84/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3.75 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 3.75. The fade is more likely given the price action on Friday, but keep an open mind. No A/H quote. Modest float squeezer.


Bullish Engulfing. I like this long over 17.36/holds. Low 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.

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