ALIM
See my previous comments. This 1st day Supernovae nominally greened today. It's still possible we could see more correction. Also possible is icky consolidation, which would not be good. No A/H quote change.
TBET
A similar situation here. Also see my previous comments. This 1st red session Supernovae today opened on a clear gap up near the hod and then fell. It closed up over 5% due to that, even with the fall. This price action means it's still in play for a possible drop Friday. No A/H quote. Again, consolidation is the big danger here.
BARZ
First red day Supernovae. Finished down a bit over 16% last time, so more down side might not be realistic. 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 is reasonably likely given the clear red result of Thursday. 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. Avoid spike up long scalps, too. Selling volume was medium, range more considerable. Mixed signals for new shorts.
IMUC
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 2.68) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 2.50 on pull backs to remain viable as a long, aside from any early noise.
PCS
Bullish Engulfing. I like this long over the high (10.91) of Thursday. Big volume on the rise, which is a poor 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is almost arguably too far away to use for risk management via stops. Ideally stays above 10.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
GA
B/O scan. I like it long back over 4.39 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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. Strong volume on the rise, a tepid sign for new buys. Exiting below 4.30 on fails after trigger entering might be prudent. Early r/g?
HUSA
Looking for an early bounce on this, but it may have more down side to go, so no longs unless it spikes up at or near the bell for the scalp or if it trades over the open after the noise candle. Avoid big gaps. Up A/H over 2.5% so do not chase. It can take a few sessions to get a play on on something like this long. Patience!
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See my previous comments. This 1st day Supernovae nominally greened today. It's still possible we could see more correction. Also possible is icky consolidation, which would not be good. No A/H quote change.
TBET
A similar situation here. Also see my previous comments. This 1st red session Supernovae today opened on a clear gap up near the hod and then fell. It closed up over 5% due to that, even with the fall. This price action means it's still in play for a possible drop Friday. No A/H quote. Again, consolidation is the big danger here.
BARZ
First red day Supernovae. Finished down a bit over 16% last time, so more down side might not be realistic. 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 is reasonably likely given the clear red result of Thursday. 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. Avoid spike up long scalps, too. Selling volume was medium, range more considerable. Mixed signals for new shorts.
IMUC
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 2.68) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Thursday, a tepid sign for new buys. Needs to keep above the Thursday close or at least over 2.50 on pull backs to remain viable as a long, aside from any early noise.
PCS
Bullish Engulfing. I like this long over the high (10.91) of Thursday. Big volume on the rise, which is a poor 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is almost arguably too far away to use for risk management via stops. Ideally stays above 10.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
GA
B/O scan. I like it long back over 4.39 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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. Strong volume on the rise, a tepid sign for new buys. Exiting below 4.30 on fails after trigger entering might be prudent. Early r/g?
HUSA
Looking for an early bounce on this, but it may have more down side to go, so no longs unless it spikes up at or near the bell for the scalp or if it trades over the open after the noise candle. Avoid big gaps. Up A/H over 2.5% so do not chase. It can take a few sessions to get a play on on something like this long. Patience!
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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