INSP
See my previous comments, mostly still in effect. Buy volume fell even more today, despite making new highs. That means a distribution session is still in the cards and probably not too far away.
CGA
Bullish Engulfing. I like this long over the high of Thursday. 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 2.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Lacking support under today's low so if it triggers this is the end of the road in a worst case scenario. 3 test/hold is a long, too.
SD
Eying this one for a potential red to green long entry. It's down A/H a tad, so if we get a weak open and some redness on the noise candle, and a move back over the flat line, we are in business. It needs to get over 8.30 and holds, ideally. That would break some recent resistance. Also long on spiking up at or near the gun as a scalp. Keep flat on real weakness. Avoid all big gaps.
PACB
B/O scan. I like it long back over 2.89 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is probably 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. Entry scale in over trigger for 1/2 of it, then 2nd 1/2 over 2.95. 3 test coming, take/hold is also a long.
CPY
This is the latest wash out long bouncer off lows candidate, which may not be done yet as volume on the sell side was huge today but we have no print after that yet to sniff for signs of bottoming. If bargain hunters arrive Friday it might work as a buy over 2 and holds, especially. Up A/H 1% or so. I do not like EOD buys on these things, I prefer to wait and test the waters on day 2. Also a long on spiking up at or near the gun as a scalp. I'd watch from pre-market in case a play arises earlier. Short covering on such DCB's helps, too. Long too on consistent pricing above the opening price level after the noise candle. Avoid all big gaps and shorts.
MSW
Red candle floater scan. Idea is to play for more 2nd day down side, like a standard red floater. Now over extending, this one might have more reddening to follow. It closed up less than 0.5% today but below the open via a gap up. Volume was medium, but it may work out for shorts. Avoid big gap downs, upside ones are less unfavorable, but may require top fishing. Down a tad A/H. 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 8.96 or the initial 30 minute high tomorrow. Conservatively, place under the close of today, especially on a gap down debut. Since 9 is so close to possible testing, you can more aggressively stop out a bit over that alternatively.
CRIS
New 52's. Short term, these yearly high stocks usually go higher. A price correction return over many months. 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 4.49) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume fairly large Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 4.02 on pull backs to remain viable as a long, aside from any early noise. Exit under 4.
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See my previous comments, mostly still in effect. Buy volume fell even more today, despite making new highs. That means a distribution session is still in the cards and probably not too far away.
CGA
Bullish Engulfing. I like this long over the high of Thursday. 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 2.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Lacking support under today's low so if it triggers this is the end of the road in a worst case scenario. 3 test/hold is a long, too.
SD
Eying this one for a potential red to green long entry. It's down A/H a tad, so if we get a weak open and some redness on the noise candle, and a move back over the flat line, we are in business. It needs to get over 8.30 and holds, ideally. That would break some recent resistance. Also long on spiking up at or near the gun as a scalp. Keep flat on real weakness. Avoid all big gaps.
PACB
B/O scan. I like it long back over 2.89 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is probably 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. Entry scale in over trigger for 1/2 of it, then 2nd 1/2 over 2.95. 3 test coming, take/hold is also a long.
CPY
This is the latest wash out long bouncer off lows candidate, which may not be done yet as volume on the sell side was huge today but we have no print after that yet to sniff for signs of bottoming. If bargain hunters arrive Friday it might work as a buy over 2 and holds, especially. Up A/H 1% or so. I do not like EOD buys on these things, I prefer to wait and test the waters on day 2. Also a long on spiking up at or near the gun as a scalp. I'd watch from pre-market in case a play arises earlier. Short covering on such DCB's helps, too. Long too on consistent pricing above the opening price level after the noise candle. Avoid all big gaps and shorts.
MSW
Red candle floater scan. Idea is to play for more 2nd day down side, like a standard red floater. Now over extending, this one might have more reddening to follow. It closed up less than 0.5% today but below the open via a gap up. Volume was medium, but it may work out for shorts. Avoid big gap downs, upside ones are less unfavorable, but may require top fishing. Down a tad A/H. 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 8.96 or the initial 30 minute high tomorrow. Conservatively, place under the close of today, especially on a gap down debut. Since 9 is so close to possible testing, you can more aggressively stop out a bit over that alternatively.
CRIS
New 52's. Short term, these yearly high stocks usually go higher. A price correction return over many months. 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 4.49) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume fairly large Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 4.02 on pull backs to remain viable as a long, aside from any early noise. Exit under 4.
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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