Friday, January 10, 2014

Watchers for the 1-13-14 trading session

VRS

Again, see my previous comments, mostly still in force. This former red session Supernovae rose less than 8% but may have more redness left on a gravy session.


PLUG 

An initial red day Supernovae today, it rose less than 10% and may have another red session left as gravy. Potential short. See my previous comments for trading approaches.


MNGA

First red day Supernovae. Finished down over 10.5% 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 fairly likely given the big 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 modest, range moderate. Mixed short signals, but watch it.



AFAI

Another initial red session Supernovae, see my comments for the above play for general approaches on entry/exit/trade management, etc. Fell over 9% on moderate volume. Potential short.


RNN

New Supernovae scan return. A 5 day move up which closed above the highs and above the open. Volume rising increasingly most days, peak 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.


CNAT

Another new Supernovae, see my comments for the above play for general approach tips. This advanced 2 days running with increasing and peak volume Friday. Potential short.


CNYD

Another new Supernovae, see my comments for RNN above for general approach tips. This one had one big day up on huge volume Friday. Potential short. 



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