Wednesday, October 09, 2013

Watchers for the 10-10-13 trading session


Supernovae, still maturing. See my previous comments for more details on entry/exit/trade management tips which are mostly in play for Thursday. Rose on peak volume almost 3% today.May not be done yet.


New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume moderate most days, big peak Wednesday. 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 Thursday 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 1.88) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Wednesday close, or at least above 1.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.75 are ideal for aggressive entry.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 5/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 5.08 and keeps going a bit. Stops above today's high at worst.


Red floater scan return. Idea is to play for more down side on day 2. Closed down on Wednesday a bit more than 0.50% off a gap up that ended below the debut. Stop above the Wednesday session high (3.82) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday if it starts off net negative. 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 sell volume on Wednesday means it might have some chances to work. A 3.50 fail would be ideal. Avoid all big gaps/longs. Gate dump?  


B/O scan. I like it long back over 1.84 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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 tepid sign for new buys. Up over 0.5% A/H. Exiting below 1.70 on fails after trigger entry is advisable. Early r/g buy?


Bullish Engulfing. I like this long over 2.02/holds. Modest 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 on Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 1.97 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Needs more volume.

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