Tuesday, September 03, 2013

Watchers for the 9-4-13 trading session


Finished essentially unchanged. See my previous comments, mostly still applicable. Looking for a 2nd red session on this popped Supernovae scan.


First red day Supernovae. Finished down almost 28.5% 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 tiny, range modest. At best, mediocre to fair short signals.


Potential 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 4.83) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4.50 Needs to keep above the Tuesday close, or at least above 4.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.75 are ideal for aggressive entry. Down A/H a bit.


Red floater scan return. Idea is to play for more down side on day 2. Closed up over 2% on Tuesday off a gap up that ended below the debut. Stop just above the Tuesday session high (13.19) 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 Tuesday means it may have unclear chances to work. A 13 or 12.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 1.83 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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. Exiting below 1.70 on fails after trigger entry is possibly advisable. Early r/g?


I like this long on a break out over 1.46/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. High volume sizable rise on Tuesday. Requires constant monitoring. Stops just under 1.25 is one risk management approach, since a fail back under indicates failure on the buy.  


Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Tuesday's open for risk control. Trigger is below the low of last time, here under 7.99/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 8 let it test/hold/fall from there 1st before entering. No longs. Stop above Tuesday's high at the most if more aggressive. Seems to be failing an 8 test with an upside hammer, like that on August 26th of this year which declined just after.

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