First red day Supernovae. Fell over 27% on Friday so not much down side might surface, but 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 greening or strength. Avoid entries on big gaps up or down.
Being hyped on TheStreet.com which saw more upside Friday, but volume is tapering off. Might not be done yet, but a distribution day should be watched for by daily monitoring. 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 greening or strength. Avoid entries on big gaps up or down.
This area of the market really zoomed Friday, especially this puppy. It is set to gap up by after hours quotes if it does not trade premarket, or if it does and does not sell off before the regular session open. We might see a gap and crap soon after the open for a fade entry, or another dump at 18, but I suspect even with the gapping it may have more life than some over eager shorts would like to think. It destroyed new 52's on volume. Early spiking up is a long scalp or longer, depending on how it holds up and how many shorts panic cover.
From the Bullish side it will be interesting to see how speculators react to an upgrade and news since Friday. Sporting several gap ups with green finishes above the open, this was helped by NANO and excitement there might help this early on, or handicap it. Long on early/initial spiking up, especially if if gaps up nicely but does not decay and stays above the opening price. Keep flat on any reddening, not into a short here.
12 test looming, but currently down after hours tad. Possible early red to green long on the attempt to take an hold 12. Holding this on volume is also a long. Possible sell off or cautious profiteering there which could be faded, but I am flat if it does. New 52's also, which were gapped over, after it closed right on the old figure.
A conditional entry. A bank stock closing at 3.80 that is becoming overdone and is sitting near the 200 day moving average from below. Possible fade on a test of that and sell off there. This is at 3.98 which is very close to a psychological selling point of 4 bucks even. Any take and hold of 4 on volume with acceleration is a long, but I hope the wags sell into an early spike up that bucks up against the aforementioned MA for a fade. Takeover rumors might be a cause, see: http://problembanklist.com/independent-bank-of-michigan-stock-price-soars-is-a-takeover-looming-0283/
New 52's at 0.77 which closed off of the highs. Re-greening after hours to a cent under the highs, one of 2 things is likely tomorrow. Possible is an immediate aggressive dump which is a fade entry at least for a scalp out of the gate, or more if it keeps selling off. Or, it takes the new high on volume, holding with acceleration to be longed. Hold time depending on how well it sustains. A weekend news blurb might help longs if they bite.
Review my blog at Investimonials:
Follow me now on Twitter:
Watch my instructional trading videos on YouTube:
Subscribe to Big T by e-mail:
Subscribe to Big T in a news reader:
The blog has a terms of service. Be sure to read it at: