Wednesday, October 05, 2016

Watchers for the 10-6-16 trading session


First red day Supernovae. Finished red over 14% 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 likely given the large 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 sizable, range bigger. Poor short signals at best but watch it.


Another initial red session Supernovae. See my comments for the above stock which this resembles. Possible short.


Watch again, another up session, back to the recent highs but up lots. Possible fade on weakness.

(No chart).


Powering higher, on light volume and reaching for the old recent highs, still a possible fade play.


This opened lower and rose, but it's still up lots and might yield another down session weakness. Recent initial red session Supernovae.


Supernovae, still maturing. Up over 26.5% today. See my previous comments, possible fade on weakness.


Watch once more for gravy redness. Very possible rise though after it slid a bit more today. Recent initial red session Supernovae. 

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