Tuesday, December 23, 2014

Watchers for the 12-24-14 trading session

FMD

This is still up a lot. See my original comments for this recent initial red session Supernovae. Might have a bit left to the negative.


APP

First red day Supernovae. Finished red over 7% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 somewhat likely given the clear red result of Tuesday. 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 bigger. Suspect short signals at best on those counts, but watch it.


TRXC

Another mixed result on this Supernovae with a doji print. Possible weak downside left for Friday. Closed down due to the gapper.


CUBA

New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume small Tuesday. 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 Wednesday 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.


ZAZA

B/O scan. I like it long back over 2.54 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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 good sign for new buys. Exiting below 2.40 on fails after trigger entry is possibly advisable. Early r/g buy?


JOB

In play both ways. As a long on continuation of momentum above 1.09/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 Tuesday, but keep an open mind.


ADXS 

Red floater scan return. Idea is to play for more down side on day 2. Closed red over 3% on Tuesday off a gap down open that ended below the debut. Stop just above the Tuesday session high (7.16) 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. Modest sell volume on Tuesday means it may have some chances to work. A 7 fail may be ideal. Avoid big gaps/longs. Panic dump?


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