Wednesday, June 03, 2015

Watchers for the 6-4-15 trading session


Rose again on low volume, still up a lot. Watch again for a fade play on this recent Supernovae.


Supernovae, still maturing. Rose almost 8% on strong volume. Possible short on weakness.


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 13.14) and holds. Avoid shorts, keep flat on true weakness. Nice move above 12.50. Needs to keep above the Wednesday close, or at least above 12.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13.07 are ideal for aggressive entry.


B/O scan. I like it long back over 3.54 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. Modest volume on the rise, a decent sign for new buys. Exiting below 3.40 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 8.79/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 8 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 3.53/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3.25/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 3.40. 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 19.14/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 18.99 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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