First red day Supernovae. Finished down over 17.5% 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 Tuesday. Up over 2% A/H. 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, range more imposing. Mixed signals for shorts.
Bullish Engulfing. I like this long over the close of Tuesday or better yet the high. Medium volume on the rise, which is a fair sign for new 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is probably not too far away to use for risk management via stops. This is only a long, with triggers. Seems to be reversing/holding support.
B/O scan. I like it long on a continuation play over the close of today or better yet the high. Stops just under the close today or the 1st 30 minute low of tomorrow. Avoid all big gaps. The low of today is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise today, a fair sign for new buys. Keep flat on real weakness aside from the usual r/g. No A/H quote. 5 test coming again, and it if takes and holds it could keep going. If it fails there, keep out if possible. No shorts.
Red floater scan return. Idea is to play for more, better down side on day 2. Sell volume on the nominal down day was light, a decent sign for new shorts. Stop above the previous session high (3.45) or another recent one at 3.71 to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. 3.50 test is also key, hope for a fail. If not, get out at fast.
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 (8.32) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Needs to keep above the Tuesday close or at least over 8.00 at worst on pull backs to remain viable as a long, aside from any early noise. Nice move on heavy volume to B/O of price correction and consolidation area on a Bullish daily chart.
B/O scan. I like it long on a continuation play over the close of today or better yet the high of 2.58. Stops just under the close today or the 1st 30 minute low of tomorrow. Avoid all big gaps. The low of today is a bit too far away to use for risk managing stops, but it has some support there. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise today, a neutral sign for new buys. Keep flat on real weakness aside from the usual r/g. Up less than 0.5% A/H so the trigger is close for the test. Best if it keep above 2.50.
News catalyst of a kind that in some cases has legs. If this powers over 0.25 it could keep moving north. Also long on spiking up out of the gate as a scalp quickie. If new idiots arrive this could kindle more interest. It could of course dump at or near the bell or just slowly bleed south tomorrow, but I'm flat on clear weakness aside from the usual head fake red to green weak open with tame reddening early. That could be another buy.
Off record, I'm watching DEGH a cheapie that is beginning to absurdly over extend. A fade entry on clear confirmed weakness cues. Do not top fish this. It's been on a tear lately and has real squeeze potential.No longs at this point, keep flat on more greening signs.
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