CTESY
First red day Supernovae. Finished down more than 18% last time, so more down side might not be in the cards. 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 fairly likely given the clear 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 small, range wider, mixed signals for new shorts. Stops over 0.40.
GCA
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 5.25) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume solid Wednesday, a tepid sign for new buys. Needs to keep above the Wednesday close or at least over 5 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Nice price climbing chart on the daily.
REE
This previous initial red session Supernovae play ended up nominally, and is down A/H to near the previous day's close, so it's a wash and still in play with comments for entry/exit/trade management angles intact. See those words from last time for details. Buy volume was quite modest. A 6 crack is essentially the ticket here.
AOB
Red floater scan return. Idea is to play for more, real down side on day 2. Ended essentially unchanged on Wednesday via a gap up that closed below the open. Stops just above 0.95 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. Modest sell volume on Wednesday which means it may have fair chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote. No longs.
AONE
B/O scan. I like it long back over 2.45 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 likely 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 tepid sign for new buys. Down over 1% A/H. Exiting below 2.30 on fails after trigger entering might be prudent. Possible to take 1/2 of the position over the trigger and the 2nd 1/2 over 2.50+ and holds.
CCIH
I like this short on a budding over extension. On panic dumps at any time, especially early, it's a short scalp. Or on confirmed weakness cues after the noise candle. Place a stop just over 7.12. Another test/fail or gap over and fall back under 7 will do nicely for fades. No A/H quotes. No longs. Avoid big gap downs.
EXM
Bullish Engulfing. I like this long over the high (1.62) 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 not too far away to use for risk management via stops. Ideally stays above 1.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
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First red day Supernovae. Finished down more than 18% last time, so more down side might not be in the cards. 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 fairly likely given the clear 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 small, range wider, mixed signals for new shorts. Stops over 0.40.
GCA
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 5.25) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume solid Wednesday, a tepid sign for new buys. Needs to keep above the Wednesday close or at least over 5 on pull backs to remain viable as a long, aside from any early noise. No A/H quote. Nice price climbing chart on the daily.
REE
This previous initial red session Supernovae play ended up nominally, and is down A/H to near the previous day's close, so it's a wash and still in play with comments for entry/exit/trade management angles intact. See those words from last time for details. Buy volume was quite modest. A 6 crack is essentially the ticket here.
AOB
Red floater scan return. Idea is to play for more, real down side on day 2. Ended essentially unchanged on Wednesday via a gap up that closed below the open. Stops just above 0.95 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. Modest sell volume on Wednesday which means it may have fair chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote. No longs.
AONE
B/O scan. I like it long back over 2.45 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 likely 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 tepid sign for new buys. Down over 1% A/H. Exiting below 2.30 on fails after trigger entering might be prudent. Possible to take 1/2 of the position over the trigger and the 2nd 1/2 over 2.50+ and holds.
CCIH
I like this short on a budding over extension. On panic dumps at any time, especially early, it's a short scalp. Or on confirmed weakness cues after the noise candle. Place a stop just over 7.12. Another test/fail or gap over and fall back under 7 will do nicely for fades. No A/H quotes. No longs. Avoid big gap downs.
EXM
Bullish Engulfing. I like this long over the high (1.62) 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 not too far away to use for risk management via stops. Ideally stays above 1.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
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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