Sunday, January 22, 2017

Watchers for the 1-23-17 trading session


Once more for red gravy. Possible early drop or afternoon fade, maybe a scalp here since the volume on the sell is drying up. Use tight stops and obey them. A high risk proposition despite being up so much.


This initial red session Supernovae fell less than 5% and gapped down with an almost doji print. So watch it again for red gravy and see my comments for the above stock. A watch but not great odds.


Back to above the highs prior to the initial drop session. Watch again for a short as gravy. See previous comments. Volume declining on the buy.


First red day Supernovae. Finished red under 9.5% last time, so more down side might be in the cards. If it had fallen much more 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 fairly likely given the sizable 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 low, range wider. Suspect at best short signals but watch it.


Supernovae, still maturing. Rose on good volume. See my comments from last time, still in effect. Short possible on weakness.


Rose on small volume off a big gap down. Watch again with caution. High risk, but possible fade gravy on weakness. Recent initial down session Supernovae. Might just go sideways a bit.


New Supernovae scan return. A 3 day move up which closed under the highs and below the open. Volume moderate 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.

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