Sunday, March 12, 2017

Watchers for the 3-13-17 trading session


Still up a ton. Watch again for a possible fade on weakness. Recent popped Supernovae. Rose a bit.


Supernovae, still maturing. See my previous comments. Possible short.


First red day Supernovae. Finished red almost 26% 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 huge 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 modest, range moderate. Poor to mixed at best short signals but watch it.


Another initial red session Supernovae. See my comments for OCRX above for rough guidelines. Fell under 4% on nominal volume, so chances are likely better.


Also reddening after making a new Supernovae scan. Fell under 3.5% on modest volume, so again chances for some gravy downside might not be too bad.


In play both ways. As a long on continuation of momentum above 8.55/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 8/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 8.35. The fade is more likely given the price action on Friday, but keep an open mind.


Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (4.55) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Modest sell volume on Friday means it may have some chances to work. A 4.30 fail may be ideal. Avoid big gaps/longs. Panic dump?

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