ENMD
New Supernovae scan return. A 7 day move up which closed under the highs and above the open. Volume increasing most days, now huge. 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 change. A 3 fail of some kind may prove pivotal.
CTC
Another new Supernovae play, this one has analysis similar to that for the above stock. See those comments for general ideas on entry/exit/trade management angles. A 4 day climb here, with increasing, sizable volume that is really big now. Possible fail around 0.75 on a test of some kind. No A/H quote here.
PROT
This one has made my "new" Supernovae scan again. It has generally advanced over many days. Analysis for how to approach it resembles the above 2 plays, see those comments for details. Watch 5 for a possible top. Be aware the best way to short is usually on weakness, so hopefully this weakens early or at worst gap/craps.
DPTRQ
First red day Supernovae. Finished down more than 13% 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 small, range nearly so, OK signals for new shorts. Stops over 0.38.
ROSG
Another 1st red session Supernovae play, with analysis similar to that for the above stock. See those comments for general ideas on entry/exit/trade management angles. Differences here are much bigger volume on the fall and considerably wider range, both of which bode ill for new shorts. It fell nearly 22% so more down side is less likely, but it still might pan out and must be watched.
ENA
Almost the same situation exists here, see the comments for the above play. This 1st session popped Supernovae also had big range though the volume, while large, was a bit less stellar. Closed red by 26% so more down side is even less likely than for the prior stock, but it still might pan out and must be watched.
PRMW
B/O scan. I like it long back over 3.18 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entering might be prudent. Early r/g buy possible. 3.20+ is the key area.
Off table, watch KUTV for a potential B/O through 2 and holds. Possible scalp long on spiking up at or near the bell over that. It's basing/consolidating near there, ran up recently, and may rebound for a buy or a swing. Also watch LSI a new annual highs play that beat estimates. It could have another day in it for some longs.
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
New Supernovae scan return. A 7 day move up which closed under the highs and above the open. Volume increasing most days, now huge. 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 change. A 3 fail of some kind may prove pivotal.
CTC
Another new Supernovae play, this one has analysis similar to that for the above stock. See those comments for general ideas on entry/exit/trade management angles. A 4 day climb here, with increasing, sizable volume that is really big now. Possible fail around 0.75 on a test of some kind. No A/H quote here.
PROT
This one has made my "new" Supernovae scan again. It has generally advanced over many days. Analysis for how to approach it resembles the above 2 plays, see those comments for details. Watch 5 for a possible top. Be aware the best way to short is usually on weakness, so hopefully this weakens early or at worst gap/craps.
DPTRQ
First red day Supernovae. Finished down more than 13% 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 small, range nearly so, OK signals for new shorts. Stops over 0.38.
ROSG
Another 1st red session Supernovae play, with analysis similar to that for the above stock. See those comments for general ideas on entry/exit/trade management angles. Differences here are much bigger volume on the fall and considerably wider range, both of which bode ill for new shorts. It fell nearly 22% so more down side is less likely, but it still might pan out and must be watched.
ENA
Almost the same situation exists here, see the comments for the above play. This 1st session popped Supernovae also had big range though the volume, while large, was a bit less stellar. Closed red by 26% so more down side is even less likely than for the prior stock, but it still might pan out and must be watched.
PRMW
B/O scan. I like it long back over 3.18 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entering might be prudent. Early r/g buy possible. 3.20+ is the key area.
Off table, watch KUTV for a potential B/O through 2 and holds. Possible scalp long on spiking up at or near the bell over that. It's basing/consolidating near there, ran up recently, and may rebound for a buy or a swing. Also watch LSI a new annual highs play that beat estimates. It could have another day in it for some longs.
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
No comments:
Post a Comment