Wednesday, February 17, 2016

Watchers for the 2-18-16 trading session

AUMN

Supernovae, still maturing. See my previous comments for possible entrance/exit strategies.



ZINCQ

First red day Supernovae. Finished red  over 33% 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 very likely given the huge red result of Wednesday. 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 medium, range also. Suspect short signals at best on those counts, but watch it.



ELMD

Another initial red session Supernovae, see the comments on ZINCQ above. Similar except here the chances might be better since it fell a lot less.



ATOS

Another rapidly maturing Supernovae. See my comments for AUMN above. Up 20% today.



ONE

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 4.19) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4. Needs to keep above the Wednesday close, or at least above 4 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.19 are ideal for aggressive entry.



TCK

In play both ways. As a long on continuation of momentum above 6.12/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6/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 6.12. The fade is more likely given the price action on Wednesday, but keep an open mind.



QEP

Bullish Engulfing. I like this long over 11.14/holds. Moderate volume on the rise, which is a tepid 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 10.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



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