PROT
First red day Supernovae. Finished down less than 1% 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 fairly unlikely, given the weak red result of Monday. 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 medium, tepid signals for new shorts. Stops over 6.40.
CMXI
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 1.40) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume huge Monday, a bad sign for new buys. Needs to keep above the Monday close or at least over 1.23 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart B/O move. An OTC stock, be careful here.
CWCO
Bullish Engulfing. I like this long over the high (7.97) of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 7.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 8 is key here.
CLSN
B/O scan. I like it long back over 1.95 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is arguably not 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. No A/H quote. Exiting below 1.90 on fails after trigger entering might be prudent. Early r/g? Possible to take 1/2 position over the trigger and the 2nd 1/2 over 2/holds.
HEB
I like this short on over extension on a gap and crap top fish or better a fall fail back under 0.50/holds. Possible to take 1/2 position under the close of Monday 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. No A/H quote. It needs to test/fail 0.50 1st to use the above scale in method. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 0.50 and keeps going a bit.
YMI
I like this long above 2/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. Down almost 3.5% A/H. As such, an early red to green long is possible, and it might pull back early then rise over 2 at the same time. Medium buy volume today, a neutral sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 1.80 might do the trick. A similar play is GTXI but that is not an official pick.
VICL
Bearish Engulfing. I like it short below the low of Monday. Modest volume on the drop, which is a fair sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.75ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote. 3.50 fail is key.
Off record, watch PNCL for a pull back test/hold/perk off 1 for a long, or a fall fail back under 1 for a fade.
New users: Read my trading guide for my play set-ups!
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First red day Supernovae. Finished down less than 1% 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 fairly unlikely, given the weak red result of Monday. 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 medium, tepid signals for new shorts. Stops over 6.40.
CMXI
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 1.40) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume huge Monday, a bad sign for new buys. Needs to keep above the Monday close or at least over 1.23 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart B/O move. An OTC stock, be careful here.
CWCO
Bullish Engulfing. I like this long over the high (7.97) of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 7.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote. 8 is key here.
CLSN
B/O scan. I like it long back over 1.95 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is arguably not 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. No A/H quote. Exiting below 1.90 on fails after trigger entering might be prudent. Early r/g? Possible to take 1/2 position over the trigger and the 2nd 1/2 over 2/holds.
HEB
I like this short on over extension on a gap and crap top fish or better a fall fail back under 0.50/holds. Possible to take 1/2 position under the close of Monday 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. No A/H quote. It needs to test/fail 0.50 1st to use the above scale in method. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 0.50 and keeps going a bit.
YMI
I like this long above 2/holds. Continuation play. Also long on spiking up at or near the gun as a scalp. No shorts or big gaps. If it gaps over the trigger let it test/hold/perk 1st before entering. Down almost 3.5% A/H. As such, an early red to green long is possible, and it might pull back early then rise over 2 at the same time. Medium buy volume today, a neutral sign. Also long on consistent moves above the opening price level after the noise candle. Stops under 1.80 might do the trick. A similar play is GTXI but that is not an official pick.
VICL
Bearish Engulfing. I like it short below the low of Monday. Modest volume on the drop, which is a fair sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.75ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote. 3.50 fail is key.
Off record, watch PNCL for a pull back test/hold/perk off 1 for a long, or a fall fail back under 1 for a fade.
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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