LIVE
New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume small most days, now huge. 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 Wednesday 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. Down over 1.5% A/H.
STEC
B/O scan. I like it long back over 9.63 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is a tad 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, a fair sign for new buys. No A/H quote change. Possible to take 1/2 position on a retest and hold of 9.50 and the 2nd part over the trigger. Exit below 9.30 on fails after entering might be a middle ground course option.
PFN
Bullish Engulfing. I like this long over the high of Tuesday. Medium volume on the rise, which is a neutral 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 8.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
MSO
Red floater scan return. Idea is to play for more, better down side on day 2. Ended down on Tuesday close to 2% via a gap up but below the open. Stop just above the previous day session high (5.19) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Modest sell volume on Tuesday which means it may have decent chances for shorts. No A/H quote. Avoid all big gaps, especially large gap down ones.
MNI
The danger now with this 1st day Supernovae that nominally greened about 0.50% and is thus still in play for more down side is that it is just consolidating and might continue to do so irritatingly. See my previous comments for entry/exit/trade management tips, mostly still applicable. No A/H quote. Avoid any big gaps.
USU
Bearish Engulfing. I like it short below the low of Tuesday. Small volume on the drop, which is a good sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 1.32ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote. You might enter 1/2 position under the trigger and the other 1/2 of it under 1.17 where it lacks support.
AONE
A bottoming play that's in focus both ways. On a bounce or spiking up at or near the gun as a scalp at 2ish for a long where some recent support exists, or as a short on panic dumps (scalp) or as a day trade fade under 2 and holds on a break under the above support level. Up a tad to 2 A/H. Avoid all big gaps. Watch from gun.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
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Watch my instructional trading videos on YouTube:
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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
New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume small most days, now huge. 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 Wednesday 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. Down over 1.5% A/H.
STEC
B/O scan. I like it long back over 9.63 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is a tad 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, a fair sign for new buys. No A/H quote change. Possible to take 1/2 position on a retest and hold of 9.50 and the 2nd part over the trigger. Exit below 9.30 on fails after entering might be a middle ground course option.
PFN
Bullish Engulfing. I like this long over the high of Tuesday. Medium volume on the rise, which is a neutral 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 8.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
MSO
Red floater scan return. Idea is to play for more, better down side on day 2. Ended down on Tuesday close to 2% via a gap up but below the open. Stop just above the previous day session high (5.19) to cap losses on head fake fade entries. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Modest sell volume on Tuesday which means it may have decent chances for shorts. No A/H quote. Avoid all big gaps, especially large gap down ones.
MNI
The danger now with this 1st day Supernovae that nominally greened about 0.50% and is thus still in play for more down side is that it is just consolidating and might continue to do so irritatingly. See my previous comments for entry/exit/trade management tips, mostly still applicable. No A/H quote. Avoid any big gaps.
USU
Bearish Engulfing. I like it short below the low of Tuesday. Small volume on the drop, which is a good sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 1.32ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote. You might enter 1/2 position under the trigger and the other 1/2 of it under 1.17 where it lacks support.
AONE
A bottoming play that's in focus both ways. On a bounce or spiking up at or near the gun as a scalp at 2ish for a long where some recent support exists, or as a short on panic dumps (scalp) or as a day trade fade under 2 and holds on a break under the above support level. Up a tad to 2 A/H. Avoid all big gaps. Watch from gun.
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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