TNCC
First red day Supernovae. Finished down more than 10.5% 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 Thursday. 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 large, range nearly so, tepid signals for new shorts. Stops over 0.42.
ULU
New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume increasing most days, now large. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Friday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. No A/H quote.
SJT
Now on my official list, seems to be bottoming volume, but you are trying to catch a falling knife, so be careful. It might not be done yet! A buy on moves over the open after 5 minutes or spiking up at or near the gun as a scalp. It might be held for hours on a slow grind up type of day. Avoid shorts, keeping flat on weak price action. A weak open with a r/g move may work for longs, too. Avoid big gaps up. Down, with care.
OMX
I like this one on a possible early red to green move long on a take/hold/perk off 6+. It's down A/H a bit over 1% so it might work out as planned. Any gap over the above level needs to test and keep over 1st before entering. Possible long scalp on a spike up at or near the gun. No shorts, flat on weakness, avoid all big gaps.
STVI
I like this short on over extension on a gap and crap top fish or better a fall fail back under 1.50/holds. Possible to take 1/2 position under the close today after the noise candle, the other 1/2 under the trigger. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping.
ALSK
B/O scan. I like it long back over 2.96 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 a bit 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. Exiting below 3 on fails after trigger entering and 3 conquering might be prudent. Possible to take 1/2 of the position over the trigger and the 2nd 1/2 over 3 and holds after a test/perk. Early r/g possible to buy. Eye 3+.
EPOC
Red floater scan return. Idea is to play for more down side on day 2. Ended red a bit over 1% on Thursday via a gap up that closed below the open. Stops just above 9.88 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. Mild sell volume on Thursday which means it may have decent chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote. No longs. 5 up days until today.
Off record, keep watching VVC for a possible bounce off the 50 day SMA @ 29. It's not as good a bet now that it fell well into the 28's, but it might yet regain the line on a accumulation print session, possibly Friday. See my past comments on this, mostly still applicable. Buy into strength only here, it's a swing play hold.
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First red day Supernovae. Finished down more than 10.5% 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 Thursday. 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 large, range nearly so, tepid signals for new shorts. Stops over 0.42.
ULU
New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume increasing most days, now large. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Friday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. No A/H quote.
SJT
Now on my official list, seems to be bottoming volume, but you are trying to catch a falling knife, so be careful. It might not be done yet! A buy on moves over the open after 5 minutes or spiking up at or near the gun as a scalp. It might be held for hours on a slow grind up type of day. Avoid shorts, keeping flat on weak price action. A weak open with a r/g move may work for longs, too. Avoid big gaps up. Down, with care.
OMX
I like this one on a possible early red to green move long on a take/hold/perk off 6+. It's down A/H a bit over 1% so it might work out as planned. Any gap over the above level needs to test and keep over 1st before entering. Possible long scalp on a spike up at or near the gun. No shorts, flat on weakness, avoid all big gaps.
STVI
I like this short on over extension on a gap and crap top fish or better a fall fail back under 1.50/holds. Possible to take 1/2 position under the close today after the noise candle, the other 1/2 under the trigger. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping.
ALSK
B/O scan. I like it long back over 2.96 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 a bit 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. Exiting below 3 on fails after trigger entering and 3 conquering might be prudent. Possible to take 1/2 of the position over the trigger and the 2nd 1/2 over 3 and holds after a test/perk. Early r/g possible to buy. Eye 3+.
EPOC
Red floater scan return. Idea is to play for more down side on day 2. Ended red a bit over 1% on Thursday via a gap up that closed below the open. Stops just above 9.88 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. Mild sell volume on Thursday which means it may have decent chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote. No longs. 5 up days until today.
Off record, keep watching VVC for a possible bounce off the 50 day SMA @ 29. It's not as good a bet now that it fell well into the 28's, but it might yet regain the line on a accumulation print session, possibly Friday. See my past comments on this, mostly still applicable. Buy into strength only here, it's a swing play hold.
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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