Wednesday, November 30, 2016

Watchers for the 12-1-16 trading session

HTBX

Still up a lot, despite 2 down days. Recent reddened Supernovae. Watch again with caution for more fade gravy on weakness.


NBR

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 16.50) and holds. Avoid shorts, keep flat on true weakness. Nice move above 15. Needs to keep above the Wednesday close, or at least above 15 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 16.10 are ideal for aggressive entry.



IMN

Red floater scan return. Idea is to play for more, real down side on day 2. Closed down over 10% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (1.13) 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. Low sell volume on Wednesday means it may have some chances to work. A 1 fail may be ideal. Avoid big gaps/longs. Panic dump?



LEI

B/O scan. I like it long back over 1.60 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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 1.40 on fails after trigger entry is possibly advisable. Early r/g buy?



TSL

Bullish Engulfing. I like this long over 9.43/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 9.25 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



ESV

In play both ways. As a long on continuation of momentum above 9.75/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9.50/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 9.66. The fade is more likely given the price action on Wednesday, but keep an open mind.



ELGX

Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 7.37/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 7.35 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest buy volume, which may mean overt buy interest is still developing, suggesting reversal upwards is not yet on tap.



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