Monday, September 04, 2017

Watchers for the 9-5-17 trading session


Despite 2 down days, still up tons. Watch once more with caution, possible fade on weakness. Don't be stubborn and take fast profits if needed. Recent red session Supernovae.


Same situation as above. Possible fade play use caution obeying tight stops.


Doji print. Despite gapper watch again for possible gravy downside. Be cautious though.


I like this short on over extension on a gap and crap top fish or better a fall fail back under 6.40/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 6.50 and keeps going a bit. Stops above Friday's high at worst. Also a fade under 6.25.


Bullish Engulfing. I like this long over 9.08/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 Tuesday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use as a stop. Ideally stays above 8.84 on pull backs to remain viable as a long if it triggers. No big gaps or 


In play both ways. As a long on continuation of momentum above 2.75/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.60 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 2.72. The fade is more likely given the price action on Friday, but keep an open mind. 


Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 6.79/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 6.77 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.

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