Tuesday, March 08, 2016

Watchers for the 3-9-16 trading session

TPLM

First red day Supernovae. Finished red over 31% 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 Tuesday. 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 larger. Suspicious short signals at best on those counts, but watch it.


ARO

See my previous comments. Finished almost unchanged. Potential short.


CRC

Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


EXXI

Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


REXX

Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


TTII

Watch again for another possible fade. Up again today and really top heavy now.


NVIV

See my comments from last time on this new Supernovae. Potential fade, Ended almost unchanged today.


BBG

Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


BAS

Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


SGY


Another initial red day Supernovae. See my comments for TPLM above. A lot of down moves.


LEU

New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume large Tuesday. 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 Wednesday 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.


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