Thursday, December 04, 2014

Watchers for the 12-5-14 trading session


A new Supernovae scan return, but red today. Possible additional downside on weakness to fade.


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 17.14) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Thursday close, or at least above 16.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 17.10 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 3.86/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3.50/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 3.50. The fade is more likely given the price action on Thursday, but keep an open mind.


Red floater scan return. Idea is to play for more down side on day 2. Closed red over 4% on Thursday off a gap down open that ended below the debut. Stop just above the Thursday session high (3.63) 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 sell volume on Thursday means it may have unclear chances to work. A 3.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 5.15 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 4.75 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 10.40/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is too far away to use for stops. Ideally stays above 10 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 open alternatively instead. Trigger is above the high of last time, here above 24.88/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 24.84 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest volume, which could mean overt buy interest is still developing, suggesting reversal upwards is not quite here.

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