Wednesday, September 17, 2014

Watchers for the 9-18-14 trading session

AVNR

See my previous comments and treat as for an initial red session Supernovae. It rose over 3.5% today but it's still top heavy. Potential short.


SINO

First red day Supernovae. Finished red over 14% 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 Wednesday. 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 small, range much more.  Weak mixed short signals at best on those counts, but watch it.


EPIQ

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 17.57) and holds. Avoid shorts, keep flat on true weakness. Nice move above 17. Needs to keep above the Wednesday close, or at least above 17 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 17.55 are ideal for aggressive entry.


CRME

Red floater scan return. Idea is to play for more, real down side on day 2. Closed up +0.50% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (8) 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. Moderate buy volume on Tuesday means it may have unclear chances to work. An 8 fail may be ideal. Avoid big gaps/longs. Panic dump?


ZNGA

B/O scan. I like it long back over 3.15 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. Modest volume on the rise, a decent sign for new buys. Exiting below 3.10 on fails after trigger entry is possibly advisable. Early r/g buy? 


OREX

Bullish Engulfing. I like this long over 5.06/holds. Low volume on the rise, which is a good 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 probably too far away to use for stops. Ideally stays above 4.90 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


HDY

In play both ways. As a long on continuation of momentum above 2.24/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 Wednesday, but keep an open mind.


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