Thursday, September 18, 2014

Watchers for the 9-19-14 trading session


Again, see my previous comments. Looking for an encore fade on weakness.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed up +0.50% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (3.34) 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. Decent buy volume on Thursday means it may have suspect chances to work. A 3 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 4.34 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Large volume on the rise, a poor sign for new buys. Exiting below 4.20 on fails after trigger entry is possibly advisable. Early r/g buy? 


Bullish Engulfing. I like this long over 9.44/holds. Moderate volume on the rise, which is a neutral 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 9.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


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 close alternatively instead. Trigger is above the high of last time, here above 18.80/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 18.77 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean overt buy interest is still arriving, suggesting reversal upwards is still developing.


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 9.88) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Thursday close, or at least above 9 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 9.35 are ideal for aggressive entry.


Bearish Engulfing. I like it short below the low (0.95) of Thursday. Low volume on the drop, which is a good sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Friday. More conservatively a stop placed above Thursday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.00 on any pull ups to stay viable as a short. Avoid all big gaps/longs.

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