Sunday, March 06, 2016

Watchers for the 3-7-16 trading session


New Supernovae scan return. A several day move up which closed under the highs and above the open. Volume large Friday. 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 Monday 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.


Supernovae, still maturing. Up almost 19.5% today on peak volume closing lower than the debut. Potential short on weakness.


Another new Supernovae, see my comments for TPLM above, similar situation. Potential fade.


Another new Supernovae, see my comments for TPLM above, which this resembles. Potential short ending up a lot on peak volume.


Another new Supernovae, see my comments for TPLM above, which this stock parallels. Potential short. Up over 23% on peak volume.


Another possible short under 0.65 and on weakness. This has rocketed up over days overextending.


In play both ways. As a long on continuation of momentum above 3.28/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/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 3.25. The fade is more likely given the price action on Friday, but keep an open mind.

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