Tuesday, November 29, 2016

Watchers for the 11-30-16 trading session

IDXG

First red day Supernovae. Finished red over 42% last time, so more down side might 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 modest, range larger. Suspect mixed bag short signals but watch it.



BCDA

Another initial red session Supernovae. See my comments for the above stock for approach details. Fell less than it but still over 10% so be careful.



PRZM

Another initial red session Supernovae. See my comments for IDXG above. Possible short.



PZRX

Another initial red session Supernovae. See my comments for IDXG above. Possible short.



HTBX

Another initial red session Supernovae. See my comments for IDXG above. Possible short.



PCYG

New 52's. Short term, these yearly high stocks often go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs (over 15.30) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14.50. Needs to keep above the Tuesday close, or at least above 14.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 15.25 are ideal for aggressive entry.



CRK

Bullish Engulfing. I like this long over 8.94/holds. Modest volume on the rise, which is a fair 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 8.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


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