Thursday, June 04, 2015

Watchers for the 6-5-15 trading session


Again, treat as an initial red session Supernovae. Closed about where it was on that day 5-29-15. Possible short on weakness.


First red day Supernovae. Finished red over 2.5% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 modestly likely given the tame red result of Thursday. 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 moderate. 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 1.35) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.25. Needs to keep above the Thursday close, or at least above 1.30 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.33. are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 2.70/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50/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 2.60. The fade is more likely given the price action on Thursday, but keep an open mind.


Red floater scan return. Idea is to play for more, real down side on day 2. Closed down over 2% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (5.28) 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. Medium sell volume on Thursday means it may have unclear chances to work. A 5 fail may be ideal. Avoid big gaps/longs. Panic dump?


B/O scan. I like it long back over 1.33 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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 decent sign for new buys. Exiting below 1.20 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 13.56/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 13.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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