INSP
See my previous comments, mostly still applicable. Buy volume dropping, so we might yet get our over extension play fade. No A/H quote change. Avoid big gap downs, but the reverse might be playable though it may require top fishing risks.
BTX
Another over extension play similar in approach to the above stock, so see yesterday's commentary for it to get general tips. Volume not yet tapering off, so it might not be done yet. The idea is to play for a fall fail back under 6 and holds. It closed over that today. Profit taking does happen, always remember this as a short.
CECO
Bullish Engulfing. I like this long over the high of Wednesday. 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is almost too far away to use for risk management via stops. Ideally stays above 6.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift. Lacking support under 6.22 so if it triggers this is the end of the road in a worst case scenario.
IGXT
Bearish Engulfing. I like it short below the low of Wednesday. 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 Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is probably too far away to use for risk control via stops. Ideally keeps under 0.50ish on any pull ups to remain viable as a short. Exit above 0.54 at worst. Avoid all big gaps/longs. Down side potential to 0.40 or so, a low it has hit and perked off twice in recent months.
SRZ
B/O scan. I like it long back over 5.55 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is borderline 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. No A/H quote. Exit might be smart on a 5.50 fail after a trigger and entry has taken place.
COT
Parabolic Sar scan return. I like it long above 6.54 and holds. Another close feedback setup, which is always preferable. Since 6.50 is close resistance, stops can be set accordingly for a trader, whether long or short, just above or below a nearby key level such as the above price. I am flat on fall fails back under 6.50 here, though. A gap over and a test/hold of our key level can be bought. Or spiking up at or near the gun or consistent prices above the open after the noise candle. Low volume on the rise, a good sign for new buys. Avoid all big gaps. No A/H quote. Swing trade possible if it gets going over our key level. Exit under it.
OCN
Red floater scan return. Idea is to play for more, better down side on day 2. Ended down on Wednesday close to 1% via a gap down. Stop just above 14.95 (10/27/11 high, the one today is too close) 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. Small sell volume on Wednesday which means it may have decent chances for shorts. No A/H quote. Avoid all big gaps, especially large gap down ones.
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See my previous comments, mostly still applicable. Buy volume dropping, so we might yet get our over extension play fade. No A/H quote change. Avoid big gap downs, but the reverse might be playable though it may require top fishing risks.
BTX
Another over extension play similar in approach to the above stock, so see yesterday's commentary for it to get general tips. Volume not yet tapering off, so it might not be done yet. The idea is to play for a fall fail back under 6 and holds. It closed over that today. Profit taking does happen, always remember this as a short.
CECO
Bullish Engulfing. I like this long over the high of Wednesday. 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is almost too far away to use for risk management via stops. Ideally stays above 6.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift. Lacking support under 6.22 so if it triggers this is the end of the road in a worst case scenario.
IGXT
Bearish Engulfing. I like it short below the low of Wednesday. 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 Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is probably too far away to use for risk control via stops. Ideally keeps under 0.50ish on any pull ups to remain viable as a short. Exit above 0.54 at worst. Avoid all big gaps/longs. Down side potential to 0.40 or so, a low it has hit and perked off twice in recent months.
SRZ
B/O scan. I like it long back over 5.55 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is borderline 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. No A/H quote. Exit might be smart on a 5.50 fail after a trigger and entry has taken place.
COT
Parabolic Sar scan return. I like it long above 6.54 and holds. Another close feedback setup, which is always preferable. Since 6.50 is close resistance, stops can be set accordingly for a trader, whether long or short, just above or below a nearby key level such as the above price. I am flat on fall fails back under 6.50 here, though. A gap over and a test/hold of our key level can be bought. Or spiking up at or near the gun or consistent prices above the open after the noise candle. Low volume on the rise, a good sign for new buys. Avoid all big gaps. No A/H quote. Swing trade possible if it gets going over our key level. Exit under it.
OCN
Red floater scan return. Idea is to play for more, better down side on day 2. Ended down on Wednesday close to 1% via a gap down. Stop just above 14.95 (10/27/11 high, the one today is too close) 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. Small sell volume on Wednesday which means it may have decent chances for shorts. No A/H quote. Avoid all big gaps, especially large gap down ones.
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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