Wednesday, January 07, 2015

Watchers for the 1-8-15 trading session


Again, see my previous comments. Finished unchanged and might have a bit more down left in it, up a bunch on this recent initial red session Supernovae.


First red day Supernovae. Finished red over 26.5% 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 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 low, range much wider. Mixed short signals at best on those counts, but watch it.


Red floater scan return. Idea is to play for more down side on day 2. Closed up over 1% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (2.04) 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 Wednesday means it may have unclear chances to work. A 2 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 2.50 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 2.40 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 16/holds. Modest volume on the rise, which is a decent 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 not too far away to use for stops. Ideally stays above 15.86 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


In play both ways. As a long on continuation of momentum above 6.10/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6/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 6. The fade is more likely given the price action on Wednesday, but keep an open mind.


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 9.20/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 9.19 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which could mean overt buy interest is just approaching, suggesting reversal upwards is soon on tap.

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