Tuesday, May 12, 2015

Watchers for the 5-13-15 trading session


Watch one more time for a possible gravy fade. See my previous comments.


Again, despite the gap down letdown, this might have a bit more downside. See my previous comments.


Supernovae still maturing. Rose on near peak volume to end up over 19.5% today.


Almost 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 9.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Tuesday close, or at least above 9 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 9.53 are ideal for aggressive entry.


B/O scan. I like it long back over 1 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. Modest volume on the rise, a decent sign for new buys. Exiting below 0.90 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 13.36/holds. Modest volume on the rise, which is a fair 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 12.94 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 11.64/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 11.59 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Medium buy volume, which may mean overt buy interest is now arriving, suggesting reversal upwards is in progress.

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