LIVE
First red day Supernovae. Finished down more than 20% 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 pretty likely given the sizable red result of Friday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was medium, range larger, mixed signals for new shorts. No A/H quote.
ABAT
Another 1st red session Supernovae, this one has even worse prospects of more down side since it fell almost 49% Friday when it popped. But otherwise analysis is mostly similar for the above play, see those comments for general tips on entry/exit/trade management angles. Sell volume fairly strong as was range. No A/H quote change. Even on big dumps like this, some gravy can follow so watching the next day is always a must.
DMND
In printing red, this potential bounce play of a recent 1 day wonder (see my comments from last time, mostly still in effect for Monday) had even more modest volume and is closer still to hopeful presumptive support, so it might yet arrive on Monday for longs. Down a tad A/H. A possible early red to green entry off early failure.
SURG
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 (over 7.00) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume fairly strong Friday, a tepid sign for new buys. Needs to keep above the Friday close or at least over 6.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change. Price correction return to a recent ceiling.
SMRT
B/O scan. I like it long back over 6.72 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably not 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, a fair sign for new buys. No A/H quote. Possible to take 1/2 position on a hold of the above trigger and the 2nd part over 6.75. Exit below 6.56 on fails (50 day SMA) if possible. Pull back entry there on a hold/perk is another route here.
CMED
Bearish Engulfing. I like it short below the low of Friday. 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 Monday. More conservatively a stop placed above Friday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.06ish 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 2.63 or even 2.46 where it lacks support.
TITXF
This is the latest bouncer long candidate. Support on the daily chart @ 1.25 or 1.30ish. Stops just under. It's also in play both ways, as a bust of that floor, especially the 1st number, can be faded. I like the long though since it has fallen so much lately a perk off that revisited area seems in order. Long on spiking up at or near the bell as a scalp or on consistent prints above the opening price level after the noise candle. Any chart with close feedback areas for stops in a set up is usually highly desirable, since you know where stand quickly. Up a tad A/H so letting it try to gap fill and go prior to entry might be suggested. Avoid big gaps. Swing possible.
New users: Read my trading guide for my play set-ups!
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The blog has a terms of service. Be sure to read it at:
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First red day Supernovae. Finished down more than 20% 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 pretty likely given the sizable red result of Friday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was medium, range larger, mixed signals for new shorts. No A/H quote.
ABAT
Another 1st red session Supernovae, this one has even worse prospects of more down side since it fell almost 49% Friday when it popped. But otherwise analysis is mostly similar for the above play, see those comments for general tips on entry/exit/trade management angles. Sell volume fairly strong as was range. No A/H quote change. Even on big dumps like this, some gravy can follow so watching the next day is always a must.
DMND
In printing red, this potential bounce play of a recent 1 day wonder (see my comments from last time, mostly still in effect for Monday) had even more modest volume and is closer still to hopeful presumptive support, so it might yet arrive on Monday for longs. Down a tad A/H. A possible early red to green entry off early failure.
SURG
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 (over 7.00) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume fairly strong Friday, a tepid sign for new buys. Needs to keep above the Friday close or at least over 6.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change. Price correction return to a recent ceiling.
SMRT
B/O scan. I like it long back over 6.72 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably not 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, a fair sign for new buys. No A/H quote. Possible to take 1/2 position on a hold of the above trigger and the 2nd part over 6.75. Exit below 6.56 on fails (50 day SMA) if possible. Pull back entry there on a hold/perk is another route here.
CMED
Bearish Engulfing. I like it short below the low of Friday. 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 Monday. More conservatively a stop placed above Friday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.06ish 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 2.63 or even 2.46 where it lacks support.
TITXF
This is the latest bouncer long candidate. Support on the daily chart @ 1.25 or 1.30ish. Stops just under. It's also in play both ways, as a bust of that floor, especially the 1st number, can be faded. I like the long though since it has fallen so much lately a perk off that revisited area seems in order. Long on spiking up at or near the bell as a scalp or on consistent prints above the opening price level after the noise candle. Any chart with close feedback areas for stops in a set up is usually highly desirable, since you know where stand quickly. Up a tad A/H so letting it try to gap fill and go prior to entry might be suggested. Avoid big gaps. Swing possible.
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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