Monday, January 16, 2017

Watchers for the 1-17-17 trading session


Watch again and see my previous comments. Rose Friday. Still up a lot. Recent Supernovae.


First red day Supernovae. Finished red over 15% 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 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 decent, range still wider. Shoddy at best short signals but watch it anyway just in case.


Another initial red session Supernovae. See my comments for the above stock for rough details. Also fell a lot pm big volume.


Supernovae, still maturing. Rose again Friday. See my previous comments on a fade option.


Returning to my Supernovae scan screen, this rose again and is still up tons. Possible fade on clear weakness with a conservative stop, especially a 2 fail. Volume on the buy drying up, a good sign.


In play both ways. As a long on continuation of momentum above 7.35/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 7/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 7.24. 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 11.63) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10. Needs to keep above the Friday close, or at least above 11 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 11.24 are ideal for aggressive entry.

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