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First red day Supernovae. Finished down more than 18% 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 Tuesday. 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 bigger, mixed signals for new shorts. Stops over 1.76.
GRH
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 2.25) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume decent Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 1.90 on pull backs to remain viable as a long, aside from any early noise. 1/2 position possible over 2/holds, other over 2.25, etc.
PNLYY
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up a bit over 2.5% on Tuesday via a gap up that closed below the open after a few up days. Stops just above 6.41 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. Middling buy volume on Tuesday which means it may have average at best chances for shorts. Avoid all big gaps, especially large gap downs. No longs.
FBP
Bullish Engulfing. I like this long over the high (4) of Tuesday. Medium volume on the rise, which is a neutral 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 arguably too far away to use for risk management via stops. Ideally stays above 3.94 on pull backs to remain viable as a long if it triggers. Conservative exits under 4. No big gaps/shorts. No A/H quote.
ART
B/O scan. I like it long back over 5.26 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 possibly 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. Exiting below 5 on fails after trigger entering might be prudent. Early r/g?
HW
Bearish Engulfing. I like it short below the low of Tuesday. Moderate volume on the drop, which is a good 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is probably too far away to use for risk control via stops. Ideally keeps under 3.15ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
ASIA
I'm long on a possible early r/g move here, and over 13/holds. Both of these possibly off a weak open. Also long on spike ups at or near the gun as a scalp. No shorts, keep flat on real weak price action. Possible to take 1/2 position over 13.14 after the the initial one over the initial level above. Get out under 12.50. No A/H quote. Avoid all big gaps.
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First red day Supernovae. Finished down more than 18% 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 Tuesday. 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 bigger, mixed signals for new shorts. Stops over 1.76.
GRH
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 2.25) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume decent Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 1.90 on pull backs to remain viable as a long, aside from any early noise. 1/2 position possible over 2/holds, other over 2.25, etc.
PNLYY
Red floater scan return. Idea is to play for more, real down side on day 2. Ended up a bit over 2.5% on Tuesday via a gap up that closed below the open after a few up days. Stops just above 6.41 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. Middling buy volume on Tuesday which means it may have average at best chances for shorts. Avoid all big gaps, especially large gap downs. No longs.
FBP
Bullish Engulfing. I like this long over the high (4) of Tuesday. Medium volume on the rise, which is a neutral 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 arguably too far away to use for risk management via stops. Ideally stays above 3.94 on pull backs to remain viable as a long if it triggers. Conservative exits under 4. No big gaps/shorts. No A/H quote.
ART
B/O scan. I like it long back over 5.26 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 possibly 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. Exiting below 5 on fails after trigger entering might be prudent. Early r/g?
HW
Bearish Engulfing. I like it short below the low of Tuesday. Moderate volume on the drop, which is a good 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is probably too far away to use for risk control via stops. Ideally keeps under 3.15ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
ASIA
I'm long on a possible early r/g move here, and over 13/holds. Both of these possibly off a weak open. Also long on spike ups at or near the gun as a scalp. No shorts, keep flat on real weak price action. Possible to take 1/2 position over 13.14 after the the initial one over the initial level above. Get out under 12.50. No A/H quote. Avoid all big gaps.
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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