EKNL
First red day Supernovae. Finished red by less than 6% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 modestly likely given the average degree of reddening on Wednesday. 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. Sell volume was declining, which is not bad news for shorts.
BLOX
See my prior comments, still in effect. Finished unchanged and seems to be bottoming. Hoping to buy this on a perk off 20/holds as a bouncer. Down a tad A/H just under 20. Avoid all big gaps.
FXEN
Bullish Engulfing. I like this long over the high (6.54) of Wednesday. Large volume on the rise, which is a poor 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 6.30 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Down almost 3.5% A/H to 6.31.
PURE
B/O scan. I like it long back over 1.32 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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. Up A/H over 0.5%. Exiting below 1.20 on fails after trigger entry might be advisable. Early r/g buy?
REED
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 7.85) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Wednesday, a weak sign for new buys. Needs to keep above the Wednesday close or at least over 7.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
DAR
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 16.97/holds. Avoid all big gaps, especially up ones. 17+ is the ticket. No A/H quote. If it gaps over the trigger or 17 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Stop out under 16.50?
OTT
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 2% on Wednesday off a gap up that ended just below the debut. Stop above the previous day session high (3.19) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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. Big buy volume on Wednesday means it might have fair chances to work. A 2.75 fail would be ideal. No A/H quote. Avoid all big gaps/longs. 3 fail or gate dump?
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First red day Supernovae. Finished red by less than 6% last time, so more down side might be realistic. If it had fallen much more than 10% then less 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 modestly likely given the average degree of reddening on Wednesday. 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. Sell volume was declining, which is not bad news for shorts.
BLOX
See my prior comments, still in effect. Finished unchanged and seems to be bottoming. Hoping to buy this on a perk off 20/holds as a bouncer. Down a tad A/H just under 20. Avoid all big gaps.
FXEN
Bullish Engulfing. I like this long over the high (6.54) of Wednesday. Large volume on the rise, which is a poor 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 6.30 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. Down almost 3.5% A/H to 6.31.
PURE
B/O scan. I like it long back over 1.32 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday 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. Up A/H over 0.5%. Exiting below 1.20 on fails after trigger entry might be advisable. Early r/g buy?
REED
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 7.85) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume strong Wednesday, a weak sign for new buys. Needs to keep above the Wednesday close or at least over 7.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
DAR
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 16.97/holds. Avoid all big gaps, especially up ones. 17+ is the ticket. No A/H quote. If it gaps over the trigger or 17 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Stop out under 16.50?
OTT
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up over 2% on Wednesday off a gap up that ended just below the debut. Stop above the previous day session high (3.19) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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. Big buy volume on Wednesday means it might have fair chances to work. A 2.75 fail would be ideal. No A/H quote. Avoid all big gaps/longs. 3 fail or gate dump?
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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