Thursday, January 19, 2017

Watchers for the 1-20-17 trading session


Watch once more yet again. Rose a bit but still up a lot and might fall now that volume on the buy is lagging.


First red day Supernovae. Finished red over 21.5% 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 Thursday. 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 wider. Poor short signals but watch it.


Another initial red session Supernovae. See my comments for the above stock for approach tips. Fell a lot too, on some volume and range.


New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume sizable Thursday. 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 Friday 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.


Also making my new Supernovae scan, see my comments for DELT above for rough guidelines. Staggered move up on some volume with range. Possible short on a dump.


Another  "new" Supernovae scan, this gapped down and closed down a lot, but has had a huge gap fest fueled move up over a number of days. Watch for a short on a morning panic or late afternoon tank and keep tight stops. A lot of risk here given the kind of movement of recent days.


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 3.78) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.50. Needs to keep above the Thursday close, or at least above 3.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.76 are ideal for aggressive entry.

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