BYFC
First red day Supernovae. Finished down over 24.5% 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 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 low, range more imposing. Mixed signals for shorts but it it could surprise. 2.00 fail?
NVAX
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 2.40) 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 2.25 on pull backs to remain viable as a long, aside from any early noise.
SYRG
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up around 2% on Monday off a gap up that ended below the debut. Stop above the previous day session high (4.74) or 3 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. Big buy volume on Monday means it might have decent chances to work. A 4.20 fail would be ideal. Or one at 4.15. No A/H quote shift. Avoid all big gaps and longs.
BGCP
B/O scan. I like it long back over 5.10 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 not 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 4.90 on fails after trigger entrance advisable. Early r/g buy?
MGI
Bullish Engulfing. I like this long over the high (17.08) of Monday. Large volume on the rise, which is a weak 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 16.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.
REE
Bearish Engulfing. I like it short below the low (4.67) of Monday. Small volume on the drop, which is a good 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 Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is arguably not too far away to use for risk control via stops. Ideally keeps under 4.80ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
SCHN
Hammer scan short. The tail is arguably not too long to use the low as a stop level unless the position is large. Some resistance is on the daily chart right at 28.50. Use a bit over today's open for risk control. Trigger is below the low of last time, here under 28.04/holds. Avoid all big gaps, especially down ones. No A/H quote shift. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. Below 28 is key.
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First red day Supernovae. Finished down over 24.5% 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 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 low, range more imposing. Mixed signals for shorts but it it could surprise. 2.00 fail?
NVAX
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 2.40) 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 2.25 on pull backs to remain viable as a long, aside from any early noise.
SYRG
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up around 2% on Monday off a gap up that ended below the debut. Stop above the previous day session high (4.74) or 3 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. Big buy volume on Monday means it might have decent chances to work. A 4.20 fail would be ideal. Or one at 4.15. No A/H quote shift. Avoid all big gaps and longs.
BGCP
B/O scan. I like it long back over 5.10 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 not 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 4.90 on fails after trigger entrance advisable. Early r/g buy?
MGI
Bullish Engulfing. I like this long over the high (17.08) of Monday. Large volume on the rise, which is a weak 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 16.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote change.
REE
Bearish Engulfing. I like it short below the low (4.67) of Monday. Small volume on the drop, which is a good 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 Tuesday. More conservatively a stop placed above Monday's close, too. The high on that day is arguably not too far away to use for risk control via stops. Ideally keeps under 4.80ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
SCHN
Hammer scan short. The tail is arguably not too long to use the low as a stop level unless the position is large. Some resistance is on the daily chart right at 28.50. Use a bit over today's open for risk control. Trigger is below the low of last time, here under 28.04/holds. Avoid all big gaps, especially down ones. No A/H quote shift. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. Below 28 is key.
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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