MNI
First red day Supernovae. Finished down less than 7.5% 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 modestly likely given the average red result of Monday. 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 fairly small, range average, fair signals for new shorts. No A/H quote.
FTWR
Another 1st red session Supernovae, see my comments for the above play, which this one roughly resembles. This one fell less than 3.5% today so more reddening could follow. Arguably more promising than the other stock, as volume and range were modest, too. No A/H quote. Avoid big gaps and longs. Scalp panic dumps.
CYAN
Red candle floater scan. Idea is to play for more 2nd day down side, like a standard red floater. An over extension candidate last time, this one might have more reddening to follow. It closed down less than 2.5% today. Volume was a bit on the high side, but it work out for shorts. Avoid big gap downs, upside ones a less unfavorable, but may require top fishing. No A/H quote. Short on panic dumps at any time or confirmed weakness cues. Scalp fades on spike downs at or near the bell. Set a stop just over 8.53 or the initial 30 minute high tomorrow. Conservatively, place under the close of today, especially on a gap down debut.
ALIM
B/O scan. I like it long back over 1.85 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. Up over 1% A/H. Possible to take 1/2 position on a retest and hold of 1.75 and the 2nd part over the trigger. Exit below that on fails. 2 test coming, possibly Tuesday. Might have more after/above that if it holds.
PPMIQ
This has been a big runner the past few days. It effectively daily doji printed. Pinkie Cheapie so be careful. Looking to fade this on panic dumps at any time or confirmed weakness cues. Danger is a big gap down ruins it. No more longs, though it might not be done. Top fish possible on a big gap up and crap, but it's less ideal.
MNTX
Bullish Engulfing. I like this long over the high of Monday. Fairly strong volume on the rise, which is a tepid 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 Monday's close, too. The low on that day is arguably not too far away to use for risk management via stops. Ideally stays above 4 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
ALZM
A curious B/O of an oldie but goodie. Lots of momentum with a price jump. Another cheap Pinkie, so be warned. Looking for more upside as a scalp on spike ups at or near the gun. Or on steady prices above the open after the noise candle. No shorts or big gaps. Yeah, it was up almost 229% today, but more is possible.
Off record, still eye THQI for possible upside bounces or for scalp buys on spiking up at or near the bell. It might be past its prime but may have a decent green session tomorrow or later in the week as a one off play.
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
First red day Supernovae. Finished down less than 7.5% 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 modestly likely given the average red result of Monday. 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 fairly small, range average, fair signals for new shorts. No A/H quote.
FTWR
Another 1st red session Supernovae, see my comments for the above play, which this one roughly resembles. This one fell less than 3.5% today so more reddening could follow. Arguably more promising than the other stock, as volume and range were modest, too. No A/H quote. Avoid big gaps and longs. Scalp panic dumps.
CYAN
Red candle floater scan. Idea is to play for more 2nd day down side, like a standard red floater. An over extension candidate last time, this one might have more reddening to follow. It closed down less than 2.5% today. Volume was a bit on the high side, but it work out for shorts. Avoid big gap downs, upside ones a less unfavorable, but may require top fishing. No A/H quote. Short on panic dumps at any time or confirmed weakness cues. Scalp fades on spike downs at or near the bell. Set a stop just over 8.53 or the initial 30 minute high tomorrow. Conservatively, place under the close of today, especially on a gap down debut.
ALIM
B/O scan. I like it long back over 1.85 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a neutral sign for new buys. Up over 1% A/H. Possible to take 1/2 position on a retest and hold of 1.75 and the 2nd part over the trigger. Exit below that on fails. 2 test coming, possibly Tuesday. Might have more after/above that if it holds.
PPMIQ
This has been a big runner the past few days. It effectively daily doji printed. Pinkie Cheapie so be careful. Looking to fade this on panic dumps at any time or confirmed weakness cues. Danger is a big gap down ruins it. No more longs, though it might not be done. Top fish possible on a big gap up and crap, but it's less ideal.
MNTX
Bullish Engulfing. I like this long over the high of Monday. Fairly strong volume on the rise, which is a tepid 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 Monday's close, too. The low on that day is arguably not too far away to use for risk management via stops. Ideally stays above 4 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
ALZM
A curious B/O of an oldie but goodie. Lots of momentum with a price jump. Another cheap Pinkie, so be warned. Looking for more upside as a scalp on spike ups at or near the gun. Or on steady prices above the open after the noise candle. No shorts or big gaps. Yeah, it was up almost 229% today, but more is possible.
Off record, still eye THQI for possible upside bounces or for scalp buys on spiking up at or near the bell. It might be past its prime but may have a decent green session tomorrow or later in the week as a one off play.
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
No comments:
Post a Comment