Thursday, October 01, 2015

Watchers for the 10-2-15 trading session


Rose over 5% today. Again, see my previous comments for a possible fade entry on this recent Supernovae.


New Supernovae scan return. A 3 day move up which closed below the highs and under the open. Volume low Thursday. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Friday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, no scalps.


Almost 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 9.19) and holds. Avoid shorts, keep flat on true weakness. Nice move above 8.50. Needs to keep above the Thursday close, or at least above 8.25 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 8.74 are ideal for aggressive entry.


B/O scan. I like it long back over 2.07 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. Large volume on the rise, a tepid sign for new buys. Exiting below 1.90 on fails after trigger entry is possibly advisable. Early r/g buy?


Bullish Engulfing. I like this long over 10.06/holds. Low volume on the rise, which is a good 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 9.76 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 5.91/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5/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 5. The fade is more likely given the price action on Thursday, 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 7.79/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 7.73 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Large sell volume, which may mean overt buy interest is nearing, suggesting reversal upwards is soon to be here.

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