MZEI
First red day Supernovae. Finished down 8% last time, so more down side might be possible. If it had fallen much more than 10% then less 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 somewhat likely given the decently red result of Wednesday. 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 big, range too, not ideal signals for new shorts. OTC cheapie, BTW.
RAM
Supernovae, still maturing. See my previous comments for the past few days, little has changed. Volume on the by side has steadily fell, despite new highs being achieved for the past 4 days. We should be nearing the distribution session quite soon. Patience and stalking is often required on these things, they can go on longer than anyone suspects or is rational. Which is why waiting for the 1st red day or a clear crack is suggested.
JBII
Red floater scan return. Idea is to play for more down side on day 2. Ended red on Wednesday close to 3.5% via a gap up that closed below the open. Stops just above 2.59 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. Medium sell volume on Wednesday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. If it gaps up wait for fills/fail to enter.
SQNS
B/O scan. I like it long back over 3.17 and holds into the daily chart gap. 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 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. Down almost 4.5% A/H. Possible 1/2 position on 3 take/hold and the 2nd 1/2 over the trigger for aggressive buyers. Exit might be smart on a 3 fail after a trigger and entry has taken place.
VAC
Bullish Engulfing. I like this long over the high (17.19) of Wednesday. Small volume on the rise, which is a good 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 not too far away to use for risk management via stops. Ideally stays above 17 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Prudent might be exiting on a 17 fail if entering after a trigger.
THC
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 not too far away to use for risk control via stops. Ideally keeps under 5ish on any pull ups to remain viable as a short. Exit above 5.06 at worst. Avoid all big gaps/longs. Down side potential to 4.50 or so, an area it has hit and perked off twice in recent months.
END
Lots of momentum here, but in play both ways. As a long on an early red to green and holds after a weak debut, and on spiking up at or near the gun as a scalp or consistent moves over the open after the noise candle. No A/H quote shift. Avoid all big gaps, but well up is a possible top fish fade for daring types. As a short, the play is a 9 try and fail or a gap just over or a breach of it early and a drop back under and holds. This could come late in the day as well if it fails to move much over 9. Or on spike downs at or near the gun as a scalp. Or on consistent moves below the opening price level after the noise candle. Live price action call.
Off table, watch PRXI for a fade on over extension. Seemed prime for a short then it exploded up. Might go Supernovae 1st so do not jump the gun or top fish, chase weakness only. Ideal to head back under 2.25ish.
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First red day Supernovae. Finished down 8% last time, so more down side might be possible. If it had fallen much more than 10% then less 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 somewhat likely given the decently red result of Wednesday. 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 big, range too, not ideal signals for new shorts. OTC cheapie, BTW.
RAM
Supernovae, still maturing. See my previous comments for the past few days, little has changed. Volume on the by side has steadily fell, despite new highs being achieved for the past 4 days. We should be nearing the distribution session quite soon. Patience and stalking is often required on these things, they can go on longer than anyone suspects or is rational. Which is why waiting for the 1st red day or a clear crack is suggested.
JBII
Red floater scan return. Idea is to play for more down side on day 2. Ended red on Wednesday close to 3.5% via a gap up that closed below the open. Stops just above 2.59 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. Medium sell volume on Wednesday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. If it gaps up wait for fills/fail to enter.
SQNS
B/O scan. I like it long back over 3.17 and holds into the daily chart gap. 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 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. Down almost 4.5% A/H. Possible 1/2 position on 3 take/hold and the 2nd 1/2 over the trigger for aggressive buyers. Exit might be smart on a 3 fail after a trigger and entry has taken place.
VAC
Bullish Engulfing. I like this long over the high (17.19) of Wednesday. Small volume on the rise, which is a good 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 not too far away to use for risk management via stops. Ideally stays above 17 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Prudent might be exiting on a 17 fail if entering after a trigger.
THC
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 not too far away to use for risk control via stops. Ideally keeps under 5ish on any pull ups to remain viable as a short. Exit above 5.06 at worst. Avoid all big gaps/longs. Down side potential to 4.50 or so, an area it has hit and perked off twice in recent months.
END
Lots of momentum here, but in play both ways. As a long on an early red to green and holds after a weak debut, and on spiking up at or near the gun as a scalp or consistent moves over the open after the noise candle. No A/H quote shift. Avoid all big gaps, but well up is a possible top fish fade for daring types. As a short, the play is a 9 try and fail or a gap just over or a breach of it early and a drop back under and holds. This could come late in the day as well if it fails to move much over 9. Or on spike downs at or near the gun as a scalp. Or on consistent moves below the opening price level after the noise candle. Live price action call.
Off table, watch PRXI for a fade on over extension. Seemed prime for a short then it exploded up. Might go Supernovae 1st so do not jump the gun or top fish, chase weakness only. Ideal to head back under 2.25ish.
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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