Thursday, February 02, 2017

Watchers for the 2-3-17 trading session

PULM

Supernovae, still maturing. See my previous comments, possible fade on a tumble.


NAKD

New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume huge 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.



PNAT

In play both ways. As a long on continuation of momentum above 3.25/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3/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 3.18. The fade is more likely given the price action on Thursday, but keep an open mind.



CXRX

B/O scan. I like it long back over 2.47 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. Exiting below 2.25 on fails after trigger entry is possibly advisable. Early r/g buy?



MGM

Bullish Engulfing. I like this long over 28.82/holds. Modest volume on the rise, which is a fair 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 Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 28.57 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



SSW

Hammer scan long. The tail is too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 7.66/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 7.36 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Big sell volume, which may mean overt buy interest is imminently arriving, suggesting reversal upwards is fast on tap.



JCP

Parabolic Sar scan. I like it long over 6.76 and holds. Low volume on the rise Thursday, a good sign for new longs. Place a stop under the close Thursday or the 1st 30 minute low Friday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.



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