Friday, October 18, 2013

Watchers for the 10-21-13 trading session


Supernovae, still maturing. See my previous comments for entry/exit/trade management tips. Rose Friday on nearly peak volume over 17.5%. Potential short. Up A/H almost 8%.


New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume varied most days, less Friday. 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 Monday 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 the above stock, which this play resembles. This one had big volume past two sessions, peaking Friday. Rose over 11% on that day. Potential short.


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 2.07) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.84. Needs to keep above the Friday close, or at least above 1.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 2 are ideal for aggressive entry.


B/O scan. I like it long back over 4.46 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. Exiting below 4.30 on fails after trigger entry is possibly advisable. Early r/g buy?


In play both ways. As a long on continuation of momentum above 1.05/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1 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 1. The fade is more likely given the price action on Friday, but keep an open mind. Careful, modest sized float.


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 11.55/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 11.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which could mean overt buy interest is just developing, suggesting reversal upwards may be soon at hand.

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