Thursday, August 08, 2013

Watchers for the 8-9-13 trading session


See my previous comments. Still possible more red gravy. It fell over 5.5% today on very small volume.


Since this finished unchanged, it's a do-over. A 1st red session Supernovae which sported low selling volume. Already another bad sign for shorts looking for more gravy since it fell by so much last time.


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 7.09) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6.66. Needs to keep above the Thursday close, or at least above 6.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Early sustained prices over 7 is ideal for aggressive entry.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up under 0.50% on Thursday off a gap up that ended a bit below the debut. Stop just above the Thursday session high (16.02) 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 buy volume on Thursday means it might have unclear chances to work. A 16 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 5 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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 mediocre sign for new buys. Down A/H over 1%. Exiting below 4.75 on fails after trigger entry is possibly advisable. Early r/g?


Bullish Engulfing. I like this long over 15.34/holds. Modest volume on the rise, which is a decent 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 15 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift.


In play both ways. As a long on continuation of momentum above 4/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4 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 4. The fade is more likely given the price action on Thursday, but keep an open mind. Down A/H about 0.50%. Unlcear float. News?

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