Sunday, December 11, 2016

Watchers for the 12-12-16 trading session


Watch once more. Still up a lot and near previous highs. Recent Supernovae possible fade on weakness see my comments from last time.


Supernovae, still maturing. See my previous comments. Closed up a lot but under the open Friday.


First red day Supernovae. Finished red over 10% 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 rather likely given the strong red result of Friday. 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 big, range too. Poor short signals but watch it.


Another initial red session Supernovae. See my comments for the above stock which this resembles, also falling over 10% Friday. 


Another initial red session Supernovae. See my comments for the PIOI above which this resembles, falling over 8.5% Friday. A bit better chance here but nothing special.


Making my Supernovae scan possibly again, this one is back to near highs on the run-up and on a flipped hammer print. Possible fade on weakness.


In play both ways. As a long on continuation of momentum above 1.02/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/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 1.02. The fade is more likely given the price action on Friday, but keep an open mind.

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