Monday, October 03, 2016

Watchers for the 10-4-16 trading session


Watch once more, almost unchanged, recent initial red day Supernovae. See my previous comments. Short on weakness.


Almost back to highs on declining volume. Possible short on weakness. Don't be stubborn on reversals.

(No chart.)


One more time, ended down a tad and still up a lot. Recent Supernovae now going sideways. Could easily power even higher first if the volume yields any clue. Don't be stubborn on stops.


New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume large Monday. 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 Tuesday 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.


Another new Supernovae, see my comments for the above stock, which this one resembles.


Another new Supernovae, see my comments for NFVY above, which this one resembles.


In play both ways. As a long on continuation of momentum above 2.49/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.25/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 2.45. The fade is more likely given the price action on Monday, but keep an open mind.

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