Thursday, May 04, 2017

Watchers for the 5-5-17 trading session


Recent Supernovae. Watch again, rose again and still up a lot. Possible fade.


Same here. Finished up a bit after ending unchanged. Still up a lot, possible fade gravy.


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 14.10) and holds. Avoid shorts, keep flat on true weakness. Nice move above 13. Needs to keep above the Thursday close, or at least above 13 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13.75 are ideal for aggressive entry.


In play both ways. As a long on continuation of momentum above 3.09/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.85/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. The fade is more likely given the price action on Thursday, but keep an open mind.


Bullish Engulfing. I like this long over 2.73/holds. Low volume on the rise, which is a good 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 2.65 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.


Parabolic Sar scan. I like it long over 7.27 and holds. Mediu, volume on the rise Thursday, a tepid 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.


Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (15.57) 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. Low volume on Thursday means it may have good chances to work. A 15 fail may be ideal. Avoid big gaps/longs. Panic dump?

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