BIOF
First red day Supernovae. Finished down almost 13% 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 large 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 modest, range more imposing. Mixed signals for shorts but be guarded here.
GOK
New Supernovae scan return. A roughly 7 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 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. A 0.50 fail of some kind may prove pivotal.
CPRX
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 2.27) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Tuesday, a suspect sign for new buys. Needs to keep above the Tuesday close or at least over 1.85 on pull backs to remain viable as a long, aside from any early noise.
ZZ
Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 2% on Tuesday off a gap up that ended below the debut. Stop above the previous day session high (2.08) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday 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. Modest sell volume on Tuesday means it might have fair chances to work. An 2 fail would be ideal. No AH quote change. Avoid all big gaps and longs.
DNDN
B/O scan. I like it long back over 5.16 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a neutral sign for new buys. No A/H quote shift. Exiting below 5 on fails after trigger entrance advisable. Early r/g buy?
TSL
Bullish Engulfing. I like this long over the high (4.50) of Tuesday. 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 4.40 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift.
TSTC
In play both ways. I like this long over 3.64 and short on a fall fail back under 3.50 or a rebuffed attempt. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.50 successfully, and overtakes the trigger price. Or the same with a ceiling at 3.50. Any gap over 3.50 needs to be played carefully. If it's just over, and holds on a test and perks off, longs are in play. If it does not hold the floor, a short is. As usual, heavy volume spikes up or down are scalp bait with discretion. Up A/H over 2%.
New users: Read my trading guide for my play set-ups!
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First red day Supernovae. Finished down almost 13% 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 large 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 modest, range more imposing. Mixed signals for shorts but be guarded here.
GOK
New Supernovae scan return. A roughly 7 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 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. A 0.50 fail of some kind may prove pivotal.
CPRX
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 2.27) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Tuesday, a suspect sign for new buys. Needs to keep above the Tuesday close or at least over 1.85 on pull backs to remain viable as a long, aside from any early noise.
ZZ
Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 2% on Tuesday off a gap up that ended below the debut. Stop above the previous day session high (2.08) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday 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. Modest sell volume on Tuesday means it might have fair chances to work. An 2 fail would be ideal. No AH quote change. Avoid all big gaps and longs.
DNDN
B/O scan. I like it long back over 5.16 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a neutral sign for new buys. No A/H quote shift. Exiting below 5 on fails after trigger entrance advisable. Early r/g buy?
TSL
Bullish Engulfing. I like this long over the high (4.50) of Tuesday. 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 4.40 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote shift.
TSTC
In play both ways. I like this long over 3.64 and short on a fall fail back under 3.50 or a rebuffed attempt. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.50 successfully, and overtakes the trigger price. Or the same with a ceiling at 3.50. Any gap over 3.50 needs to be played carefully. If it's just over, and holds on a test and perks off, longs are in play. If it does not hold the floor, a short is. As usual, heavy volume spikes up or down are scalp bait with discretion. Up A/H over 2%.
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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