Friday, May 29, 2015

Watchers for the 6-1-15 trading session


First red day Supernovae. Finished red over 14% 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 fairly likely given the big red result of Friday. 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 wider. Weak, mixed short signals at best on those counts, but watch it.


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 21.22) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16.50. Needs to keep above the Friday close, or at least above 19 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 19.76 are ideal for aggressive entry.


I like this short on possible over extension with a gap and crap back under 9/holds. No longs. Early scalp short on a morning panic dump. Up like 5 straight days, volume not ideal over that.


B/O scan. I like it long back over 1.43 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a good sign for new buys. Exiting below 1.35 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 15.07/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 18.72 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 1.07/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/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 1. The fade is more likely given the price action on Friday, 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 15.79/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 15.74 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest has not arrived, suggesting reversal upwards is still developing.

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