PCRX
As usual, see my previous comments, still in effect. This stubborn low volume many day riser is just itching for a distribution day print by now. Ideally, that happens on a fail of 15. No longs or big gap downs.
MDGN
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 8.80) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Wednesday, a weak sign for new buys. Needs to keep above the Wednesday close or at least over 8 on pull backs to remain viable as a long, aside from any early noise.
FORM
Red floater scan return. Idea is to play for more down side on day 2. Ended down about 0.5% on Wednesday via a gap up that closed below the open after several mostly up days. Stops just above 6.55 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. Small sell volume on Wednesday which means it may have decent chances for shorts. Avoid all longs & big gaps, especially large gap downs.
AMD
B/O scan. I like it long above 6.09. 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 possibly not 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. No A/H quote shift, avoid all big gaps. 6.14 is the sticking point above the trigger. Possible stop just under 6?
SLE
Bullish Engulfing. I like this long over the high (19.34) of Wednesday. Medium volume on the rise, which is a tepid 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 arguably not too far away to use for risk management via stops. Ideally stays above 19 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
ATRS
Bearish Engulfing. I like it short below the low (3.55) of Wednesday. Small 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 Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.67ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
JRCC
In play both ways. 1st, as a fall fail fade back under 3.25 If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Down A/H a tad. Also a short on panic dumps at or near the bell or in the afternoon. No huge gaps. Long on more upside on a test/hold/perk off 3.25 If this maintains this it could have more. Also long on spiking up at or near the gun for a scalp. An over/under live price action call. Possible red to green long after a weak open and 3.25 test that prevails.
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As usual, see my previous comments, still in effect. This stubborn low volume many day riser is just itching for a distribution day print by now. Ideally, that happens on a fail of 15. No longs or big gap downs.
MDGN
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 8.80) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Wednesday, a weak sign for new buys. Needs to keep above the Wednesday close or at least over 8 on pull backs to remain viable as a long, aside from any early noise.
FORM
Red floater scan return. Idea is to play for more down side on day 2. Ended down about 0.5% on Wednesday via a gap up that closed below the open after several mostly up days. Stops just above 6.55 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. Small sell volume on Wednesday which means it may have decent chances for shorts. Avoid all longs & big gaps, especially large gap downs.
AMD
B/O scan. I like it long above 6.09. 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 possibly not 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. No A/H quote shift, avoid all big gaps. 6.14 is the sticking point above the trigger. Possible stop just under 6?
SLE
Bullish Engulfing. I like this long over the high (19.34) of Wednesday. Medium volume on the rise, which is a tepid 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 arguably not too far away to use for risk management via stops. Ideally stays above 19 on pull backs to remain viable as a long if it triggers. No big gaps/shorts.
ATRS
Bearish Engulfing. I like it short below the low (3.55) of Wednesday. Small 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 Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is not too far away to use for risk control via stops. Ideally keeps under 3.67ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
JRCC
In play both ways. 1st, as a fall fail fade back under 3.25 If it gaps over, let it test/fail before shorting. A test from below that fails there works, too. Down A/H a tad. Also a short on panic dumps at or near the bell or in the afternoon. No huge gaps. Long on more upside on a test/hold/perk off 3.25 If this maintains this it could have more. Also long on spiking up at or near the gun for a scalp. An over/under live price action call. Possible red to green long after a weak open and 3.25 test that prevails.
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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