NEXS
Supernovae, still maturing. Closed almost unchanged after a big gap up filled. See my previous comments, little has changed. Decent sell volume Friday, not a plus. No/A/H quote. Just a waiting game for the dump.
BIOF
Another still maturing Supernovae. Again, refer to my previous comments for details on entry/exit/trade management angles. This had peak buy volume Friday, a big gap up, and a 40%+ gain. All good signs for a dump ahead. No A/H quote. 9 fail possible. More potential arguably than the above similar play.
CUR
First red day Supernovae. Finished down over16.5% 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 fairly likely given the wide degree of reddening on Friday. 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 almost equally imposing. Not perfect signals for shorts but in play.
ASGN
Almost 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 19.37) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume large Friday, a suspect sign for new buys. Needs to keep above the Friday close or at least over 18.75 on pull backs to remain viable as a long, aside from any early noise.
YONG
Bearish Engulfing. I like it short below the low (4.30) of Friday. Medium volume on the drop, which is a neutral 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 Monday. More conservatively a stop placed above Friday's close, too. The high on that day is possibly not too far away to use for risk control via stops. Ideally keeps under 4.50ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
GBX
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 0.5% on Friday off a gap up that ended below the debut. Stop above the previous day session high (19.47) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Moderate buy volume on Friday means it might have reasonable chances to work. An 18.69 fail would be ideal. No AH quote. Avoid all big gaps and longs.
BRKS
B/O scan. I like it long back over 8.51 (into daily chart gap) and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably 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. No A/H quote. Exiting below 8.30 on fails after trigger entrance advisable. Early r/g buy?
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Supernovae, still maturing. Closed almost unchanged after a big gap up filled. See my previous comments, little has changed. Decent sell volume Friday, not a plus. No/A/H quote. Just a waiting game for the dump.
BIOF
Another still maturing Supernovae. Again, refer to my previous comments for details on entry/exit/trade management angles. This had peak buy volume Friday, a big gap up, and a 40%+ gain. All good signs for a dump ahead. No A/H quote. 9 fail possible. More potential arguably than the above similar play.
CUR
First red day Supernovae. Finished down over16.5% 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 fairly likely given the wide degree of reddening on Friday. 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 almost equally imposing. Not perfect signals for shorts but in play.
ASGN
Almost 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 19.37) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume large Friday, a suspect sign for new buys. Needs to keep above the Friday close or at least over 18.75 on pull backs to remain viable as a long, aside from any early noise.
YONG
Bearish Engulfing. I like it short below the low (4.30) of Friday. Medium volume on the drop, which is a neutral 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 Monday. More conservatively a stop placed above Friday's close, too. The high on that day is possibly not too far away to use for risk control via stops. Ideally keeps under 4.50ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
GBX
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 0.5% on Friday off a gap up that ended below the debut. Stop above the previous day session high (19.47) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday if it starts off net negative. I'm only into the shorting possibility if it surfaces, keeping flat on strength. Also a short on heavy volume dumps/confirmed weakness cues. Moderate buy volume on Friday means it might have reasonable chances to work. An 18.69 fail would be ideal. No AH quote. Avoid all big gaps and longs.
BRKS
B/O scan. I like it long back over 8.51 (into daily chart gap) and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably 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. No A/H quote. Exiting below 8.30 on fails after trigger entrance advisable. Early r/g buy?
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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