Tuesday, December 30, 2014

Watchers for the 12-31-14 trading session


Again. I'm stubborn. Possible short. Moved higher again today. See my previous comments.


Yet again, finished down less than 1% and may have some more to fade. Might be basing and moving higher so be careful. It has already a few downside sessions since the original Supernovae, but nothing special.


Again, see my comments from last time. Still maturing Supernovae but getting top heavy. Closed on more volume than recent sessions but not a lot more. Possible fade entry on a sell off.


First red day Supernovae. Finished red over 11.5% 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 rather likely given the large 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 low, range modest. Mixed short signals at best on those counts, but watch it.


See my comments for JOB above. Another initial red session Supernovae. Down over 21% today on modest volume. Possible fade but could easily bounce so be careful.


Another new Supernovae that finished in a doji print and unchanged. See my previous comments. Lots of volume though. Possible fade.


In play both ways. As a long on continuation of momentum above 3.28/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3/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 3. The fade is more likely given the price action on Tuesday, but keep an open mind.

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