SBSA
First red day Supernovae. Finished down less than 4.5% last time, so more down side might be in the cards. 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 is modestly likely given the average 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 medium, range too, neutral signals for new shorts. Stop=7.48+
PROT
Although this advanced today 5% or less, buy volume keeps diminishing so it might still yield another down day tomorrow or soon. See my previous comments, mostly still in effect. It weakened in the morning nicely.
DPTRQ
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume variable most days, now declining. 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 Thursday 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 change. A Pinkie, so be wary.
ROSG
Another new Supernovae play, this one has analysis similar to that of the above stock, so see those comments for general tips on entry/exit/trade management angles. Some differences are this was a 2 day move up with most of the rise coming today, and the volume is huge now. Some natural resistance around 0.60 and on its chart at about 0.63 but it may not be done. Up A/H over 9% which might mean a gap and crap top fish.
ENA
Yet another new Supernovae scan, see my comments for the above 2 plays, which this one resembles. See the comments for this picks for details. Differences here are we have a 4 day climb on increasing, now huge, volume. No A/H quote. At a natural psychological selling point at today's close. A fall fail back under ideal. Stops are usually set no higher than the high of the previous session, scaling in without too large a position.
REE
Bullish Engulfing. I like this long over the high (6.14) of Wednesday. Medium volume on the rise, which is a neutral 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 likely too far away to use for risk management via stops. Ideally stays above 5.75 on pull backs to remain viable as a long if it triggers. Conservative exits under 6. No big gaps/shorts. No A/H quote change. This is a former runner recently. Rebound?
HGSI
B/O scan. I like it long back over 10.01 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 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 A/H a tad. Exiting below 9.50 on fails after trigger entering might be prudent. Early r/g possible to buy.
Off record, watch ENMD for a fade on over extension, particularly on a fall fail back under 2.50 on a test of some kind. Peak volume today. It could have more, but I'm waiting for the short if and when it sets up. It was a toss up between this one and the above stock for official list inclusion. I chose the long given my other ones.
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First red day Supernovae. Finished down less than 4.5% last time, so more down side might be in the cards. 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 is modestly likely given the average 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 medium, range too, neutral signals for new shorts. Stop=7.48+
PROT
Although this advanced today 5% or less, buy volume keeps diminishing so it might still yield another down day tomorrow or soon. See my previous comments, mostly still in effect. It weakened in the morning nicely.
DPTRQ
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume variable most days, now declining. 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 Thursday 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 change. A Pinkie, so be wary.
ROSG
Another new Supernovae play, this one has analysis similar to that of the above stock, so see those comments for general tips on entry/exit/trade management angles. Some differences are this was a 2 day move up with most of the rise coming today, and the volume is huge now. Some natural resistance around 0.60 and on its chart at about 0.63 but it may not be done. Up A/H over 9% which might mean a gap and crap top fish.
ENA
Yet another new Supernovae scan, see my comments for the above 2 plays, which this one resembles. See the comments for this picks for details. Differences here are we have a 4 day climb on increasing, now huge, volume. No A/H quote. At a natural psychological selling point at today's close. A fall fail back under ideal. Stops are usually set no higher than the high of the previous session, scaling in without too large a position.
REE
Bullish Engulfing. I like this long over the high (6.14) of Wednesday. Medium volume on the rise, which is a neutral 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 likely too far away to use for risk management via stops. Ideally stays above 5.75 on pull backs to remain viable as a long if it triggers. Conservative exits under 6. No big gaps/shorts. No A/H quote change. This is a former runner recently. Rebound?
HGSI
B/O scan. I like it long back over 10.01 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 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 A/H a tad. Exiting below 9.50 on fails after trigger entering might be prudent. Early r/g possible to buy.
Off record, watch ENMD for a fade on over extension, particularly on a fall fail back under 2.50 on a test of some kind. Peak volume today. It could have more, but I'm waiting for the short if and when it sets up. It was a toss up between this one and the above stock for official list inclusion. I chose the long given my other 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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