FTK
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 12.26) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Wednesday, a poor sign for new buys. Needs to keep above the Wednesday close or at least over 11 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change. Price correction return to a recent ceiling situation to overtake the 10.50ish area.
ZGNX
Red floater scan return. Idea is to play for more down side on day 2. Ended up on Wednesday over 4.5% via a gap up that closed below the open. Stops just above 2.55 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 buy volume on Wednesday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote.
ITMN
Bullish Engulfing. I like this long over the high (13.85) of Wednesday. Modest volume on the rise, which is a fair 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 almost too far away to use for risk management via stops. Ideally stays above 13 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Prudent might be exiting on a 13 fail if entering after a trigger which exceeds that price level, too.
GNOM
B/O scan. I like it long back over 3.67 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. Large volume on the rise, a poor sign for new buys. Up A/H over 5% so pull back tests needed. Exit below 3.50 on fails after entering might be a middle ground course option. Possible to take 1/2 position on a test/hold/perk off the above key level and the 2nd 1/2 over the trigger.
JBII
The latest dead cat bounce candidate for a potential long, the sell volume is still huge so it might not be done tanking yet. Be careful trying to catch falling knives. Buy on spiking up at or near the bell as a scalp, or on consistent moves above the opening price level after the noise candle. No shorts and avoid big gaps up, down not so bad. Patiently monitor this. It's come full circle and is near support where it sits now. Look at a yearly chart to see what I mean. I think the low was like 0.72 and it is on the main area of a floor now. I would be intolerant of price moves below this area if in long after trying to time the bottom.
END
In play both ways. As a long on spiking up at or near the gun as a scalp. Or on take/hold/perk off of 10. Or as a short on over extension on a fall fail near 10 or a gap over and move back under and holds. Or on spike downs at or near the gun as a scalp fade. I am hoping for the short as I see more routes to that. Resistance on the daily chart exists near the level given above, sells there are likely. No A/H quote. Avoid all big gaps.
HDY
Also in play both ways much like the above stock. See those comments for general analysis. Here, the key level over/under is obviously 3. If we take/hold/perk off there it's a long or a scalp buy on spike ups, etc. If we fall fail there or gap over and soon fall back under it's a short. Or on spiking down as a short scalp. Up over 0.5% A/H. Avoid all big gaps. Better odds for longs on this, not so extended on volume, etc.
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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 12.26) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume big Wednesday, a poor sign for new buys. Needs to keep above the Wednesday close or at least over 11 on pull backs to remain viable as a long, aside from any early noise. No A/H quote change. Price correction return to a recent ceiling situation to overtake the 10.50ish area.
ZGNX
Red floater scan return. Idea is to play for more down side on day 2. Ended up on Wednesday over 4.5% via a gap up that closed below the open. Stops just above 2.55 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 buy volume on Wednesday which means it may have neutral chances for shorts. Avoid all big gaps, especially large gap down ones. No A/H quote.
ITMN
Bullish Engulfing. I like this long over the high (13.85) of Wednesday. Modest volume on the rise, which is a fair 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 almost too far away to use for risk management via stops. Ideally stays above 13 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote. Prudent might be exiting on a 13 fail if entering after a trigger which exceeds that price level, too.
GNOM
B/O scan. I like it long back over 3.67 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. Large volume on the rise, a poor sign for new buys. Up A/H over 5% so pull back tests needed. Exit below 3.50 on fails after entering might be a middle ground course option. Possible to take 1/2 position on a test/hold/perk off the above key level and the 2nd 1/2 over the trigger.
JBII
The latest dead cat bounce candidate for a potential long, the sell volume is still huge so it might not be done tanking yet. Be careful trying to catch falling knives. Buy on spiking up at or near the bell as a scalp, or on consistent moves above the opening price level after the noise candle. No shorts and avoid big gaps up, down not so bad. Patiently monitor this. It's come full circle and is near support where it sits now. Look at a yearly chart to see what I mean. I think the low was like 0.72 and it is on the main area of a floor now. I would be intolerant of price moves below this area if in long after trying to time the bottom.
END
In play both ways. As a long on spiking up at or near the gun as a scalp. Or on take/hold/perk off of 10. Or as a short on over extension on a fall fail near 10 or a gap over and move back under and holds. Or on spike downs at or near the gun as a scalp fade. I am hoping for the short as I see more routes to that. Resistance on the daily chart exists near the level given above, sells there are likely. No A/H quote. Avoid all big gaps.
HDY
Also in play both ways much like the above stock. See those comments for general analysis. Here, the key level over/under is obviously 3. If we take/hold/perk off there it's a long or a scalp buy on spike ups, etc. If we fall fail there or gap over and soon fall back under it's a short. Or on spiking down as a short scalp. Up over 0.5% A/H. Avoid all big gaps. Better odds for longs on this, not so extended on volume, etc.
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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