Tuesday, August 06, 2013

Watchers for the 8-7-13 trading session


Treat this another initial red session Supernovae. The fall on it Monday was so slight it barely qualified as one, and it fell 4% today on very tiny volume. Might have more gravy fading. See my previous comments.
Down almost 1.5% A/H.


Supernovae, still maturing. It rose on almost half as much volume as on Monday by over 6.5% today. 10 fail ideal for the short. See my initial and previous comments. Down over 1% A/H.


First red day Supernovae. Finished down over 10% 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 fairly likely given the decent 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 modest, range middling. At best, mediocre short signals.


Another initial red session Supernovae, see my comments for MCOX above for general approach tips. This one fell almsot 24.5% today, so the odds of a bounce are even greater. On the plus side, it fell on very modest volume. Looking for a bit more gravy to the downside. 1 fail is ideal, but be willing to stop out.


New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume big most days, almost as much 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, no scalps.


Another new Supernovae, see my comments for FLST above for general approach tips. This one rose 5 days running on significant, increasing volume, peaking Tuesday. 0.25 fail ideal maybe. Potential short.


Another initial Supenovae, see my comments for FLST for general approach tips. This one rose 5 days in a row, mostly on small volume, but huge peak buying today. A 6 or 5.50 fail ideal. Possible short. No longs.

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