ORS
First red day Supernovae. Finished down over 15% last time, so more down side might not be realistic. 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 more likely given the high degree of reddening on Wednesday. No A/H quote. 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. Avoid spike up long scalps, too. Selling volume was medium, as was range. Not the worst signs for shorts.
RITT
First red day Supernovae. Finished down just 0.5% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 a lot less likely given the low degree of reddening on Wednesday. No A/H quote. 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. Avoid spike up long scalps, too. Selling volume was big, but range was not. That is a mixed bag for prospective shorts.
GBTR
New Supernovae scan return. A 4 day move up which closed off of the highs and above the open. Volume increasing each day and big. 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 Thursday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues 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, avoid scalping long. No A/H quote.
RYUN
See my comments from last time on this over extension angle for entry/exit/ play management tips, as they mostly still apply. Another big up close, greening over 46% on the day. It might yet squeeze to 2 before it's done, so be careful. Only fade clear weakness. Unsure float specs, another problem for shorting traders.
SQNM
Bullish Engulfing. I like this long over the close of Wednesday or better yet the high. Medium volume on the rise, which is a decent sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote. Stops just under the low last time or the initial 30 minute one on Thursday. More conservatively a stop placed under today's close, too. The low is a bit far away to use for risk management via stops so I would prefer the conservative approach or the one tomorrow. This bounced near recent support at just under 7.50 or so. Possible continuation tomorrow if all goes well, it's up trending on the daily.
ES
This showed up on my B/O and Parabolic Sar filter scan. I like it long over 5.00 and I'm also a buyer on spiking up at or near the bell for a scalp. The high today was 4.91so not much is needed for a trigger. Keep flat on real weakness aside from the usual red to green via meek reddening out of or near the gun. Needs to keep above 4.80ish to remain viable for the Bulls.
IPMN
New 52's. Short term, these yearly high stocks usually 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 (1.86) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice move to make a new annual top price, but with big volume which is not a good sign for new longs. Needs to keep above the Wednesday close or at least over 1.50 on pull backs to remain viable as a long, aside from any early noise.
Off table, I'm watching SNDY which rose 200% today on no obvious news. It might be a promotion, not sure. Its 2 day rise with unusual volume merits attention. Obviously, I'm flat on more upside, and am waiting to fade this on heavy volume dumps whenever they occur or confirmed weakness cues. Looks like a similar move in March on this cheapie happened, perhaps via pumping. POTG was just pumped and it might be sold off as soon as tomorrow. I'll wait to fade on a dump. XPO has a lot of momentum and made new 52's, analysis is similar to that for IPMN above in my official list. It's up tons, and another 3 test awaits. Down A/H a possible red to green for the long might arise. The previous high was only 3 cents lower than that of today.
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First red day Supernovae. Finished down over 15% last time, so more down side might not be realistic. 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 more likely given the high degree of reddening on Wednesday. No A/H quote. 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. Avoid spike up long scalps, too. Selling volume was medium, as was range. Not the worst signs for shorts.
RITT
First red day Supernovae. Finished down just 0.5% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 a lot less likely given the low degree of reddening on Wednesday. No A/H quote. 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. Avoid spike up long scalps, too. Selling volume was big, but range was not. That is a mixed bag for prospective shorts.
GBTR
New Supernovae scan return. A 4 day move up which closed off of the highs and above the open. Volume increasing each day and big. 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 Thursday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues 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, avoid scalping long. No A/H quote.
RYUN
See my comments from last time on this over extension angle for entry/exit/ play management tips, as they mostly still apply. Another big up close, greening over 46% on the day. It might yet squeeze to 2 before it's done, so be careful. Only fade clear weakness. Unsure float specs, another problem for shorting traders.
SQNM
Bullish Engulfing. I like this long over the close of Wednesday or better yet the high. Medium volume on the rise, which is a decent sign for buyers. Keep flat on real weakness aside from a typical red to green move, etc. No A/H quote. Stops just under the low last time or the initial 30 minute one on Thursday. More conservatively a stop placed under today's close, too. The low is a bit far away to use for risk management via stops so I would prefer the conservative approach or the one tomorrow. This bounced near recent support at just under 7.50 or so. Possible continuation tomorrow if all goes well, it's up trending on the daily.
ES
This showed up on my B/O and Parabolic Sar filter scan. I like it long over 5.00 and I'm also a buyer on spiking up at or near the bell for a scalp. The high today was 4.91so not much is needed for a trigger. Keep flat on real weakness aside from the usual red to green via meek reddening out of or near the gun. Needs to keep above 4.80ish to remain viable for the Bulls.
IPMN
New 52's. Short term, these yearly high stocks usually 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 (1.86) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice move to make a new annual top price, but with big volume which is not a good sign for new longs. Needs to keep above the Wednesday close or at least over 1.50 on pull backs to remain viable as a long, aside from any early noise.
Off table, I'm watching SNDY which rose 200% today on no obvious news. It might be a promotion, not sure. Its 2 day rise with unusual volume merits attention. Obviously, I'm flat on more upside, and am waiting to fade this on heavy volume dumps whenever they occur or confirmed weakness cues. Looks like a similar move in March on this cheapie happened, perhaps via pumping. POTG was just pumped and it might be sold off as soon as tomorrow. I'll wait to fade on a dump. XPO has a lot of momentum and made new 52's, analysis is similar to that for IPMN above in my official list. It's up tons, and another 3 test awaits. Down A/H a possible red to green for the long might arise. The previous high was only 3 cents lower than that of today.
New users: Read my trading guide for my play set-ups!
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:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
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