PROT
Supernovae, still maturing. See my previous comments for tips on entry/exit/trade management ideas as they are still mostly applicable. Buy volume still big, so respect it. This could run back to to 6.50 even 7 before it dumps, so be willing to get out if it suddenly reverses on you and honor stops. This has burned many shorts.
ENMD
First red day Supernovae. Finished down more than 11.5% 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 Friday. 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 modest, range medium, tepid signals for new shorts. Stops over 2.86.
CTC
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 slight regarding volume but it sported even more pedestrian range. It fell less than 7% so additional down side is more likely than with the above. In any case it must be watched. No A/H quote.
LNG
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 12.87) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Friday, a fair sign for new buys. Needs to keep above the Friday close or at least over 12.50 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart price correction move. A "Scamex" stock.
KFN
Bullish Engulfing. I like this long over the high (8.99) of Friday. 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 8.80 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 9 is key over/under.
XIDE
B/O scan. I like it long back over 3.55 into the daily chart gap and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably too 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 3.50 on fails after trigger entering might be prudent. Early r/g?
IPHI
Red floater scan return. Idea is to play for more down side on day 2. Ended south 1% on Friday via a gap down that closed below the open after several up days. Stops just above 16.03 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 Friday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. No longs.
Off record, watch RENN for more upside after an early red to green or a gap and crap short. QPSA is similar, with an area of interest at 5 over/under. STVI may move over 1.50 or fail there for a fade. It had a big move recently, such stocks should always be in focus.
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Supernovae, still maturing. See my previous comments for tips on entry/exit/trade management ideas as they are still mostly applicable. Buy volume still big, so respect it. This could run back to to 6.50 even 7 before it dumps, so be willing to get out if it suddenly reverses on you and honor stops. This has burned many shorts.
ENMD
First red day Supernovae. Finished down more than 11.5% 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 Friday. 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 modest, range medium, tepid signals for new shorts. Stops over 2.86.
CTC
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 slight regarding volume but it sported even more pedestrian range. It fell less than 7% so additional down side is more likely than with the above. In any case it must be watched. No A/H quote.
LNG
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 12.87) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Friday, a fair sign for new buys. Needs to keep above the Friday close or at least over 12.50 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart price correction move. A "Scamex" stock.
KFN
Bullish Engulfing. I like this long over the high (8.99) of Friday. 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 8.80 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 9 is key over/under.
XIDE
B/O scan. I like it long back over 3.55 into the daily chart gap and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably too 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 3.50 on fails after trigger entering might be prudent. Early r/g?
IPHI
Red floater scan return. Idea is to play for more down side on day 2. Ended south 1% on Friday via a gap down that closed below the open after several up days. Stops just above 16.03 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 Friday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. No longs.
Off record, watch RENN for more upside after an early red to green or a gap and crap short. QPSA is similar, with an area of interest at 5 over/under. STVI may move over 1.50 or fail there for a fade. It had a big move recently, such stocks should always be in focus.
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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