Sunday, December 25, 2016

Watchers for the 12-27-16 trading session


Once more watch this though volume is out and it may rise again. Recent Supernovae still deciding direction, but it could be a fade on weakness as a play.


And again watch this initial red session Supernovae once more, having doji printed Friday. Might have a bit more red left, but don't count on it and obey tight stops.


New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume decent Friday. 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 Monday 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 scan maker, this one has been in a new price range for days with down sessions and zoom up Friday. Obey tight stops and fade on weakness.


In play both ways. As a long on continuation of momentum above 1.97/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.75/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 1.97. The fade is more likely given the price action on Friday, but keep an open mind.


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 6.43) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5.50. Needs to keep above the Friday close, or at least above 6 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 6.34 are ideal for aggressive entry.


Bullish Engulfing. I like this long over 3.15/holds. Low volume on the rise, which is a good 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 Friday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 3.05 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.

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