ZERO
First red day Supernovae. Finished down almost 5% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 only modestly likely given the average degree of reddening today. 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 formidable, range equally imposing. Not perfect signals for shorts but in play.
PWAV
Another 1st red session Supernovae. See my comments for the above stock, broadly applicable, but some important differences exist here. It sported more modest selling volume, a plus, but fell over 19% which increases the odds of a bounce tomorrow. No A/H quote. Otherwise, it has similar particulars.
NEXS
New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume modest most days, now huge. 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 Friday 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. A 0.40 fail of some kind may prove pivotal, or a 0.35 one.
CUR
Another new Supernovae scan, this one has similar analysis as for the above play, see those comments for general hits on entry/exit/trade management angles. Some differences are this was a more gradual 5 day return advance, on peak volume today with previous days showing more modest buying levels. Scamex issue, be aware. Also down almost 11.5% A/H so wait to fade this as a DT until some fill and fade arrives.
BIOF
Still another new Supernovae, this one sported a low of 3.22 on the initial rise day on the 7th of September, and is a doubler approximately by now. It had low volume on the days in the middle, followed by today's print almost equaling that of day 1. Similar comments as for the above stock in terms of general approach. Down A/H just 0.5% which makes the advice about the gap in the previous stock not applicable here.
SPRT
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 3.90) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Thursday, a suspect sign for new buys. Needs to keep above the Thursday close or at least over 3.75 on pull backs to remain viable as a long, aside from any early noise.
NGVC
Bullish Engulfing. I like this long over the high (20.99) of Thursday. Low volume on the rise, which is a decent 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 too far away to use for stops. Ideally stays above 20.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift. 21+ is ideal.
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First red day Supernovae. Finished down almost 5% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 only modestly likely given the average degree of reddening today. 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 formidable, range equally imposing. Not perfect signals for shorts but in play.
PWAV
Another 1st red session Supernovae. See my comments for the above stock, broadly applicable, but some important differences exist here. It sported more modest selling volume, a plus, but fell over 19% which increases the odds of a bounce tomorrow. No A/H quote. Otherwise, it has similar particulars.
NEXS
New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume modest most days, now huge. 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 Friday 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. A 0.40 fail of some kind may prove pivotal, or a 0.35 one.
CUR
Another new Supernovae scan, this one has similar analysis as for the above play, see those comments for general hits on entry/exit/trade management angles. Some differences are this was a more gradual 5 day return advance, on peak volume today with previous days showing more modest buying levels. Scamex issue, be aware. Also down almost 11.5% A/H so wait to fade this as a DT until some fill and fade arrives.
BIOF
Still another new Supernovae, this one sported a low of 3.22 on the initial rise day on the 7th of September, and is a doubler approximately by now. It had low volume on the days in the middle, followed by today's print almost equaling that of day 1. Similar comments as for the above stock in terms of general approach. Down A/H just 0.5% which makes the advice about the gap in the previous stock not applicable here.
SPRT
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 3.90) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Thursday, a suspect sign for new buys. Needs to keep above the Thursday close or at least over 3.75 on pull backs to remain viable as a long, aside from any early noise.
NGVC
Bullish Engulfing. I like this long over the high (20.99) of Thursday. Low volume on the rise, which is a decent 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 too far away to use for stops. Ideally stays above 20.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift. 21+ is ideal.
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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