GOK
First red day Supernovae. Finished down over 22.5% 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 rather 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 moderate, range more imposing. Mixed signals for shorts but be guarded here.
CBEY
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 9.94) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Thursday, a decent sign for new buys. Needs to keep above the Thursday close or at least over 9.50 on pull backs to remain viable as a long, aside from any early noise.
TSTC
Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 8.5% on Thursday off a gap down that ended below the debut. Stop above the previous day session high (2.62) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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 Thursday means it might have decent chances to work. An 2.50 fail would be ideal. Avoid all big gaps and longs.
ZAGG
B/O scan. I like it long back over 9 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 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. Up A/H a bit less than 1%. Exiting below 8.75 on fails after trigger entrance advisable. Early r/g buy?
XCO
Bullish Engulfing. I like this long over the high (7.52) of Thursday. Modest 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 arguably too far away to use for stops. Ideally stays above 7.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
ITMN
I like this long over 9.90 with strong volume. It needs to hold over 9.70 on a test to remain/be viable as a long. Possible early red to green long entry if it opens weak. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness or a fall fail at 9.70 if tested. Avoid all big gaps, as usual. Up A/H by almost 6.5% to 10.50 so a pullback entry with a 10 test is advisable 1st to buy. Or to 10.25, etc.
AL
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use the previous session close alternatively. Trigger is above the high of last time, here above 21.02/holds. Avoid all big gaps, especially up ones. 21+ is the ticket. No A/H quote. If it gaps over the trigger or 21 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Possible early weakness r/g move to buy.
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First red day Supernovae. Finished down over 22.5% 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 rather 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 moderate, range more imposing. Mixed signals for shorts but be guarded here.
CBEY
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 9.94) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume modest Thursday, a decent sign for new buys. Needs to keep above the Thursday close or at least over 9.50 on pull backs to remain viable as a long, aside from any early noise.
TSTC
Red floater scan return. Idea is to play for more down side on day 2. Closed down almost 8.5% on Thursday off a gap down that ended below the debut. Stop above the previous day session high (2.62) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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 Thursday means it might have decent chances to work. An 2.50 fail would be ideal. Avoid all big gaps and longs.
ZAGG
B/O scan. I like it long back over 9 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 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. Up A/H a bit less than 1%. Exiting below 8.75 on fails after trigger entrance advisable. Early r/g buy?
XCO
Bullish Engulfing. I like this long over the high (7.52) of Thursday. Modest 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 arguably too far away to use for stops. Ideally stays above 7.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
ITMN
I like this long over 9.90 with strong volume. It needs to hold over 9.70 on a test to remain/be viable as a long. Possible early red to green long entry if it opens weak. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness or a fall fail at 9.70 if tested. Avoid all big gaps, as usual. Up A/H by almost 6.5% to 10.50 so a pullback entry with a 10 test is advisable 1st to buy. Or to 10.25, etc.
AL
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use the previous session close alternatively. Trigger is above the high of last time, here above 21.02/holds. Avoid all big gaps, especially up ones. 21+ is the ticket. No A/H quote. If it gaps over the trigger or 21 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Possible early weakness r/g move to 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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