IDOI
First red day Supernovae. Finished red by more than 14.5% 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 sizable degree of reddening on Friday. 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 small, range more wide, mixed cues for shorts.
ENV
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 13.58) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume large Friday, a poor sign for new buys. Needs to keep above the Friday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Nice move over 13 on the daily chart.
FOLD
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up almost 0.5% on Friday off a gap up that ended just below the debut. Stop above the previous day session high (6.82) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday 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. Medium buy volume on Friday means it might have unclear chances to work. A 6.50 fail would be ideal. No A/H quote. Avoid all big gaps/longs. 6.50 fail or gate dump?
DELL
B/O scan. I like it long back over 9.74 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 9.50 on fails after trigger entry might be advisable. Early r/g buy?
ELN
Bullish Engulfing. I like this long over the high (11.19) of Friday. Small volume on the rise, which is a fair 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 10.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
AEGR
Nice daily chart for an over/under play @ 16. Long over 16/holds. Or on positive price action above that and the open after 5 minutes of trading. Or on spike ups scalps at or near the gun. Short on a 16 fail/holds. Or on negative price action below 16 and the open after the noise candle. Or on spike downs at or near the gun as a scalp. No A/H quote. In play both ways with respect to 16. A live price action call.
NEXS
Bearish Engulfing. I like it short below the low (0.62) of Friday. Low volume on the drop, which is a decent sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Monday. More conservatively a stop placed above Friday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 0.70ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
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First red day Supernovae. Finished red by more than 14.5% 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 sizable degree of reddening on Friday. 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 small, range more wide, mixed cues for shorts.
ENV
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 13.58) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume large Friday, a poor sign for new buys. Needs to keep above the Friday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Nice move over 13 on the daily chart.
FOLD
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up almost 0.5% on Friday off a gap up that ended just below the debut. Stop above the previous day session high (6.82) to cap losses on head fake fade entries. More conservatively, stop above the close on Friday 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. Medium buy volume on Friday means it might have unclear chances to work. A 6.50 fail would be ideal. No A/H quote. Avoid all big gaps/longs. 6.50 fail or gate dump?
DELL
B/O scan. I like it long back over 9.74 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is arguably not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a decent sign for new buys. No A/H quote. Exiting below 9.50 on fails after trigger entry might be advisable. Early r/g buy?
ELN
Bullish Engulfing. I like this long over the high (11.19) of Friday. Small volume on the rise, which is a fair 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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 10.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
AEGR
Nice daily chart for an over/under play @ 16. Long over 16/holds. Or on positive price action above that and the open after 5 minutes of trading. Or on spike ups scalps at or near the gun. Short on a 16 fail/holds. Or on negative price action below 16 and the open after the noise candle. Or on spike downs at or near the gun as a scalp. No A/H quote. In play both ways with respect to 16. A live price action call.
NEXS
Bearish Engulfing. I like it short below the low (0.62) of Friday. Low volume on the drop, which is a decent sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Monday. More conservatively a stop placed above Friday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 0.70ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
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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