Monday, August 21, 2017

Watchers for the 8-22-17 trading session


Down only a bit, watch once more for possible downside and see my previous comments for approaches.


See my previous comments. Finished unchanged. Bullish engulfing candidate.


New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume big Monday. 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 Tuesday 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.


Another new Supernovae. See my comments for the above stock for general approaches. 2 day rise.


Another new Supernovae. See my comments for ARCI again for general approaches. 2 day rise.


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 3.36) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.10. Needs to keep above the Monday close, or at least above 3.20 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.34 are ideal for aggressive entry.


Parabolic Sar scan. I like it long over 1.17 and holds. Low volume on the rise Monday, a good sign for new longs. Place a stop under the close Monday or the 1st 30 minute low Tuesday. 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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