Wednesday, April 15, 2015

Watchers for the 4-16-15 trading session


Again see my previous comments. Supernovae still advancing. Up over 5.5% on bigger volume. Possible fade.


See my previous comments again. Inverse doji printed down over 1% on very small volume. Potential fade on weakness.


Still up a lot, this recent Supernovae red session play rose today over 12% on small volume. Fade on weakness.


More big up moves to new highs over 17%. Recent bare red session Supernovae that might have more red left. Fade on weakness.


First red day Supernovae. Finished red almost 11% 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 sizable 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 modest, range larger. Weak mixed short signals at best on those counts, but watch it.


Over extension short on this many days up stock that might fail fade at about 4.50. Set a stop above 4.69 and stick to it. Short only. Avoid big gaps, too. Rose on modest volume, a good sign for sellers.


B/O scan. I like it long back over 2.25 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 2.10 on fails after trigger entry is possibly advisable. Early r/g buy?

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