FFI
First red day Supernovae. Finished down almost 19% 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 Monday. 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 medium, range more imposing. Mixed signals for shorts but be guarded here.
ZERO
New Supernovae scan return. A roughly 5 day move up which closed under the highs and above the open. Volume increasingly big the past 2 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 Tuesday 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 2 fail of some kind may prove pivotal, or a 1.70 breech.
HOGS
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 1% on Monday off a gap down that ended below the debut. Stop above the previous day session high (11.23) to cap losses on head fake fade entries. More conservatively, stop above the close on Monday 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 sell volume on Monday means it might have average chances to work. An 11 fail would be ideal. No AH quote. Avoid all big gaps and longs. Tweezer tops on the high.
CBR
B/O scan. I like it long back over 3.58 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is 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. Exiting below 3.50 on fails after trigger entrance advisable. 3.50+ is the ticket Early r/g buy?
BKS
Bullish Engulfing. I like this long over the high (12.83) of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is too far away to use for stops. Ideally stays above 12.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.
CMC
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 13.55/holds. Avoid all big gap, especially up ones. 13.50+ is the ticket. Up A/H a tad. If it gaps over the trigger or 13.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
CTIX
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 1.18) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Monday, a suspect sign for new buys. Needs to keep above the Monday close or at least over 1.10 on pull backs to remain viable as a long, aside from any early noise. Cancer trials catalyst. Legs?
Off table, keep watching PURE for at least an early long scalp or a day trade buy over 1.18. Get out under 1.15.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
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The blog has a terms of service. Be sure to read it at:
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First red day Supernovae. Finished down almost 19% 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 Monday. 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 medium, range more imposing. Mixed signals for shorts but be guarded here.
ZERO
New Supernovae scan return. A roughly 5 day move up which closed under the highs and above the open. Volume increasingly big the past 2 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 Tuesday 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 2 fail of some kind may prove pivotal, or a 1.70 breech.
HOGS
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 1% on Monday off a gap down that ended below the debut. Stop above the previous day session high (11.23) to cap losses on head fake fade entries. More conservatively, stop above the close on Monday 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 sell volume on Monday means it might have average chances to work. An 11 fail would be ideal. No AH quote. Avoid all big gaps and longs. Tweezer tops on the high.
CBR
B/O scan. I like it long back over 3.58 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is 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. Exiting below 3.50 on fails after trigger entrance advisable. 3.50+ is the ticket Early r/g buy?
BKS
Bullish Engulfing. I like this long over the high (12.83) of Monday. 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is too far away to use for stops. Ideally stays above 12.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.
CMC
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 13.55/holds. Avoid all big gap, especially up ones. 13.50+ is the ticket. Up A/H a tad. If it gaps over the trigger or 13.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
CTIX
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 1.18) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Monday, a suspect sign for new buys. Needs to keep above the Monday close or at least over 1.10 on pull backs to remain viable as a long, aside from any early noise. Cancer trials catalyst. Legs?
Off table, keep watching PURE for at least an early long scalp or a day trade buy over 1.18. Get out under 1.15.
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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