PGNX
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 8.69) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a poor sign for new buys. Needs to keep above the Tuesday close or at least over 8 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 situation. Possible swing trade upwards once it breaks through, even if it does not Tuesday.
CMRG
Bullish Engulfing. I like this long over the high of Tuesday. Modest 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. 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 almost too far away to use for risk management via stops. Ideally stays above 3.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
OZM
B/O scan. I like it long back over 8.53 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 probably 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. Exit might be smart on a 8.50 fail after a trigger and entry has taken place. Possible swing.
CIE
In play both ways. On a fall fail with a noise candle take of 14 or a gap over and move back under as a short or on a spike down at or near the gun as a sell scalp. Or as a long on a take and hold of it after the noise candle or as a spike up and over as a scalp at or near the gun. May make a run to 15. Avoid all big gaps. No A/H quote. Day trade only on this one. Possible early red to green long on a weak open and vanquish of 14.
INSP
Possible over extension play with a short on a fall fail at 11 if it retests and cracks under/holds. Or as a scalp sell on spike downs at or near the bell or on confirmed weakness cues like trading under the open/previous close after the noise candle. Some will use any retest/perk off 11 as a new long entry but I am flat on that. Avoid all big gaps. No A/H quote.
GERN
This is a potential swing play with a day trade starter based on a floor hold of 1.40/perking off there. Daily doji print today. That area held in upper November, going up and now back down to retest it as support. You can also short it on a fail there and holds, but I am flat on that, despite the down trend being with that. Avoid all big gaps. No A/H quote. Set stops just under or over support, if going long or short, respectively.
LOGL
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 probably too far away to use for risk control via stops. Ideally keeps under1.16ish on any pull ups to remain viable as a short. Exit above 1.24 at worst. Avoid all big gaps/longs. You might enter 1/2 position under the trigger and the other 1/2 of it under 1.00/holds to scale in.
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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 8.69) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a poor sign for new buys. Needs to keep above the Tuesday close or at least over 8 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 situation. Possible swing trade upwards once it breaks through, even if it does not Tuesday.
CMRG
Bullish Engulfing. I like this long over the high of Tuesday. Modest 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. 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 almost too far away to use for risk management via stops. Ideally stays above 3.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
OZM
B/O scan. I like it long back over 8.53 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 probably 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. Exit might be smart on a 8.50 fail after a trigger and entry has taken place. Possible swing.
CIE
In play both ways. On a fall fail with a noise candle take of 14 or a gap over and move back under as a short or on a spike down at or near the gun as a sell scalp. Or as a long on a take and hold of it after the noise candle or as a spike up and over as a scalp at or near the gun. May make a run to 15. Avoid all big gaps. No A/H quote. Day trade only on this one. Possible early red to green long on a weak open and vanquish of 14.
INSP
Possible over extension play with a short on a fall fail at 11 if it retests and cracks under/holds. Or as a scalp sell on spike downs at or near the bell or on confirmed weakness cues like trading under the open/previous close after the noise candle. Some will use any retest/perk off 11 as a new long entry but I am flat on that. Avoid all big gaps. No A/H quote.
GERN
This is a potential swing play with a day trade starter based on a floor hold of 1.40/perking off there. Daily doji print today. That area held in upper November, going up and now back down to retest it as support. You can also short it on a fail there and holds, but I am flat on that, despite the down trend being with that. Avoid all big gaps. No A/H quote. Set stops just under or over support, if going long or short, respectively.
LOGL
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 probably too far away to use for risk control via stops. Ideally keeps under1.16ish on any pull ups to remain viable as a short. Exit above 1.24 at worst. Avoid all big gaps/longs. You might enter 1/2 position under the trigger and the other 1/2 of it under 1.00/holds to scale in.
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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