Monday, May 30, 2016

Watchers for the 5-31-16 trading session

NERV

First red day Supernovae. Finished red over 4% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 moderately likely given the decent red result of Friday. 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 modest, range moderate. Mixed short signals given the drop level, but watch it.


SGY

Another initial red session Supernovae. See my comments above for general approaches.


FLXN

Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 10% on Friday off a gap down open that ended below the debut. Stop just above the Friday session high (16.88) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Modest sell volume on Friday means it may have some chances to work. A 15.50 fail may be ideal. Avoid big gaps/longs. Panic dump?


STKL

B/O scan. I like it long back over 5.03 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 4.50 on fails after trigger entry is possibly advisable. Early r/g buy?


PSDV

In play both ways. As a long on continuation of momentum above 3.87/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3.75/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 3.85. The fade is more likely given the price action on Friday, but keep an open mind.


GSL

Bullish Engulfing. I like this long over 1.60/holds. Modest volume on the rise, which is a decent 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 Tuesday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 1.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


AES

Parabolic Sar scan. I like it long over 11.13 and holds. Modesr volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Tuesday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.


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