Wednesday, October 14, 2015

Watchers for the 10-15-15 trading session


See my previous comments again. An unchanged session but up enough for more downside options.


Watch once more, seeing my last comments. A recent red session Supernovae. Fell under 4% today on low volume.


This looks over extended. A fade back under 4.25/4 and no shorts. Many up sessions running on big volume.


In play both ways. As a long on continuation of momentum above 1.50/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.40/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 1.50. The fade is more likely given the price action on Wednesday, but keep an open mind.


B/O scan. I like it long back over 7.02 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. Large volume on the rise, a weak sign for new buys. Exiting below 6.75 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 6.88/holds. Big volume on the rise, which is a poor 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 6.50 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 close alternatively instead. Trigger is above the high of last time, here above 8.75/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 8.47 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest is still ahead, suggesting reversal upwards is not yet quite on tap.

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