Friday, September 20, 2013

Watchers for the 9-23-13 trading session

DECN

Although this failed to redden once more after first doing so Thursday, watch this reddening Supernovae again for a possible short on weakness or panic dumps. Still up quite a degree. See my previous comments.


FU

First red day Supernovae. Finished down over 17.5% 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 strong red result of Friday. 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 big, range too. Suspect short signals at best, but watch.


SOLS

Another initial red session Supernovae scan. See my comments for the above play, which this one somewhat resembles, for general tips. Difference here is this one only fell a bit over 1.5% Friday, so more possible down side seems possible. Volume on the sell side was fairly sizable, which is a negative, but watch it surely.


SWIR

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 14.90) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14. Needs to keep above the Friday close, or at least above 14 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 14.75 are ideal for aggressive entry.


ANW

Red floater scan return. Idea is to play for more, real down side on day 2. Closed unchanged on Friday off a gap up that ended below the debut. Stop just above the Friday session high (11.28) 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. Sizable sell volume on Friday means it may have suspect chances to work. An 11 fail may be ideal. Avoid big gaps/longs. Panic dump? Up A?H less than 0.50%.


AOI

B/O scan. I like it long back over 3.03 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 not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Decent volume on the rise, an unclear sign for new buys. Exiting below 2.95 on fails after trigger entry is possibly advisable. Early r/g? Down A/H a bit.


STRI  

In play both ways. As a long on continuation of momentum above 2.21/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2 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 2. The fade is more likely given the price action on Friday, but keep an open mind. Moderately sized float.

 
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