MIMV
First red day Supernovae. Finished down over 16.5% 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 significant degree of reddening Thursday. 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 less imposing. Tepid signals for shorts but it it could surprise.
LPHI
Another initial red session Supernovae. See my comments for the similar play above for approach tips. Fell on moderate volume with more range and over 19% so chances might be a bit less here. Down A/H a tad.
NEXS
Supernovae, still maturing. See my previous comments, mostly unchanged. Rose on near daily doji up over 1% on much more moderate volume. Not a bad sign for eventual shorts.
STRM
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 5.74) 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 5.40 on pull backs to remain viable as a long, aside from any early noise.
ANAD
B/O scan. I like it long back over 1.30 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 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 1.25 on fails after trigger entrance advisable. Early r/g buy?
PBT
Bullish Engulfing. I like this long over the high (15.24) of Thursday. Moderate volume on the rise, which is a neutral 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 not too far away to use for stops. Ideally stays above 15 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
APPY
In play both ways. I like this long over 2.75 and short on a fall fail back under 2.75 or a rebuffed attempt. Volume big, low float squeeze? Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 2.75 successfully, and overtakes the trigger price. Or the same with a ceiling at 2.75. Any gap over 2.75 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 to 2.82 so a test will be needed for any entry in any direction except possible spike/up/down scalps.
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First red day Supernovae. Finished down over 16.5% 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 significant degree of reddening Thursday. 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 less imposing. Tepid signals for shorts but it it could surprise.
LPHI
Another initial red session Supernovae. See my comments for the similar play above for approach tips. Fell on moderate volume with more range and over 19% so chances might be a bit less here. Down A/H a tad.
NEXS
Supernovae, still maturing. See my previous comments, mostly unchanged. Rose on near daily doji up over 1% on much more moderate volume. Not a bad sign for eventual shorts.
STRM
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 5.74) 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 5.40 on pull backs to remain viable as a long, aside from any early noise.
ANAD
B/O scan. I like it long back over 1.30 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 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 1.25 on fails after trigger entrance advisable. Early r/g buy?
PBT
Bullish Engulfing. I like this long over the high (15.24) of Thursday. Moderate volume on the rise, which is a neutral 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 not too far away to use for stops. Ideally stays above 15 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
APPY
In play both ways. I like this long over 2.75 and short on a fall fail back under 2.75 or a rebuffed attempt. Volume big, low float squeeze? Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 2.75 successfully, and overtakes the trigger price. Or the same with a ceiling at 2.75. Any gap over 2.75 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 to 2.82 so a test will be needed for any entry in any direction except possible spike/up/down scalps.
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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