PROT
Again, see my previous comments for details, little has changed. Buy volume really dropping, so hopefully we will see a clear red day sans fake outs to fade into. Stubborn Supernovae has burned a lot of early shorts.
CALL
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 19.75) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 19 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart and B/O move.
MILL
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up 1% on Tuesday via a gap up that closed below the open after 5 out of 6 up days. Stops just above 4.46 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. Strong buy volume on Tuesday which means it may have decent chances for shorts. Avoid all big gaps, especially large gap down ones. No longs.
ZAGG
B/O scan. I like it long back over 10.12 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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. Up over 1% A/H. Exiting below 10 on fails after trigger entering might be prudent. Early r/g possible to buy. Watch 10.
ENTG
Bullish Engulfing. I like this long over the high (9.65) of Tuesday. Small 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 9.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift. Rebound?
DWCH
I'm looking to short this on a fall fail back under 9 and holds. Be careful, rather low float. If it triggers and reverses on you, get out and do not look back. Could use a bit more volume, too, a tad thin. No longs. Also short on spike downs at or near the gun as a scalp. Short on confirmed weakness cues after the noise candle. Volume still strong on the buy side, so it might not be done yet. Short could come in afternoon, or it might crack at 9.50 instead. Stalk this. Avoid big gap downs, but up is alright if top fish risking. No A/H quote.
REE
Long here on spiking up at or near the gun as scalp. Or on consistent moves above the open after 5 minutes. Early red to green move possible for a long. No shorts. Keep flat on truly weak price action. The idea is to buy into a take/hold over 7.50ish. A previous mover that might keep going if it can overtake the trigger, where resistance is on the daily chart. Down A/H so our weak open/gap close and advance may pan out. Volume big, not the greatest sign for new longs but float is uncertain. If it's small, squeezing is ever more likely at times.
Off table, I'm watching CDTI for a similar move as the above stock, in this case back over 3.50/holds. See my general comments for previous equity for approaches.
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Again, see my previous comments for details, little has changed. Buy volume really dropping, so hopefully we will see a clear red day sans fake outs to fade into. Stubborn Supernovae has burned a lot of early shorts.
CALL
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 19.75) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume medium Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 19 on pull backs to remain viable as a long, aside from any early noise. Nice daily chart and B/O move.
MILL
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up 1% on Tuesday via a gap up that closed below the open after 5 out of 6 up days. Stops just above 4.46 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. Strong buy volume on Tuesday which means it may have decent chances for shorts. Avoid all big gaps, especially large gap down ones. No longs.
ZAGG
B/O scan. I like it long back over 10.12 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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. Up over 1% A/H. Exiting below 10 on fails after trigger entering might be prudent. Early r/g possible to buy. Watch 10.
ENTG
Bullish Engulfing. I like this long over the high (9.65) of Tuesday. Small 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for risk management via stops. Ideally stays above 9.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift. Rebound?
DWCH
I'm looking to short this on a fall fail back under 9 and holds. Be careful, rather low float. If it triggers and reverses on you, get out and do not look back. Could use a bit more volume, too, a tad thin. No longs. Also short on spike downs at or near the gun as a scalp. Short on confirmed weakness cues after the noise candle. Volume still strong on the buy side, so it might not be done yet. Short could come in afternoon, or it might crack at 9.50 instead. Stalk this. Avoid big gap downs, but up is alright if top fish risking. No A/H quote.
REE
Long here on spiking up at or near the gun as scalp. Or on consistent moves above the open after 5 minutes. Early red to green move possible for a long. No shorts. Keep flat on truly weak price action. The idea is to buy into a take/hold over 7.50ish. A previous mover that might keep going if it can overtake the trigger, where resistance is on the daily chart. Down A/H so our weak open/gap close and advance may pan out. Volume big, not the greatest sign for new longs but float is uncertain. If it's small, squeezing is ever more likely at times.
Off table, I'm watching CDTI for a similar move as the above stock, in this case back over 3.50/holds. See my general comments for previous equity for approaches.
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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