Wednesday, January 11, 2017

Watchers for the 1-12-17 trading session


First red day Supernovae. Finished red over 44.5% 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 Wednesday. 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 much wider. Suspect at best short signals but watch it anyway just in case.


Another initial red session Supernovae. See my comments for the above. Similar case, advice.


And again here, same situation as for CUR above. See ETRM. Big down day on light volume.


And yet another initial red session Supernovae. See my comments for IMUC, etc. Another big down day on light volume.


Also making a new Supernovae scan appearance, though it fell tons today. Treat it as for an initial red session case, as in the others above here. May have gravy downside after a huge up day Tuesday.


Rose a bit after initial red day Supernovae pop. Might have a red session yet for gravy. See 
previous comments and guidelines from last time.


Supernovae, still maturing. Rose a ton and closed under open after a huge gapper. Possible fade on weakness, very extended.


New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume huge Wednesday. 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 Thursday 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 MYOS. This one rose some days running on mostly increasing volume. 

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