Thursday, November 03, 2016

Watchers for the 11-4-16 trading session


Still up a lot but fell today. Watch again for gravy downside.


Another initial red session Supernovae. Fell only modestly and still up a lot so look for additional fades.


First red day Supernovae. Finished red over 17.5% 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 big red result of Thursday. 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 moderate, range ditto. Mediocre short signals but watch it.


Another initial red session Supernovae, see my comments for the above stock, which this resembles. Fell a bit over 5% so more likely a play might work out on weakness.


Another initial red session Supernovae. See my comments for CNBX which this resembles. Fell almost 13% today so prospects should be more suspicious.


New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume large Thursday. 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 Friday 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 resembles. Short option on weakness.

Keep an eye on SKLN too, which also made my Supernovae scan, despite its red sessions. It's still up a lot, and might have another drop left. This is off record, not an official play as in the previous selections!

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