OMTK
Over extension fade possible. A short on confirmed weakness cues. Or on spiking down at or near the gun as a scalp sell. No longs. 6 test fail of some kind will perhaps be key. Avoid big gaps and longs. May not be done yet, always wait for reversal signs before entering. OTC stock.
LFVN
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 2.15) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 2.10 on pull backs to remain viable as a long, aside from any early noise.
ALIM
New Supernovae scan return. A 4 day move up that closed under the highs and below the open. Big buy volume Tuesday. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Wednesday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. Gap and crap?
TBET
New Supernovae again. See above for general hints on entry/exit/trade management angle. Also closed under the highs and open. Up 1% A/H.
PSDV
Again, another new Supernovae. See comments for the above 2 stocks for details. This play resembles them both. Also closed below the open on a gap up after several up days. All 3 plays have been closing weakly.
MERU
B/O scan. I like it long back over 5.38 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. 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?
CYBI
Bullish Engulfing. I like this long over the high (2.30) of Tuesday. 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 2.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
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Over extension fade possible. A short on confirmed weakness cues. Or on spiking down at or near the gun as a scalp sell. No longs. 6 test fail of some kind will perhaps be key. Avoid big gaps and longs. May not be done yet, always wait for reversal signs before entering. OTC stock.
LFVN
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 2.15) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Tuesday, a tepid sign for new buys. Needs to keep above the Tuesday close or at least over 2.10 on pull backs to remain viable as a long, aside from any early noise.
ALIM
New Supernovae scan return. A 4 day move up that closed under the highs and below the open. Big buy volume Tuesday. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Wednesday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. Gap and crap?
TBET
New Supernovae again. See above for general hints on entry/exit/trade management angle. Also closed under the highs and open. Up 1% A/H.
PSDV
Again, another new Supernovae. See comments for the above 2 stocks for details. This play resembles them both. Also closed below the open on a gap up after several up days. All 3 plays have been closing weakly.
MERU
B/O scan. I like it long back over 5.38 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. 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?
CYBI
Bullish Engulfing. I like this long over the high (2.30) of Tuesday. 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is too far away to use for risk management via stops. Ideally stays above 2.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
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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