PCS
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 14.51) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Tuesday, a suspect sign for new buys. Needs to keep above the Tuesday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Rumor catalyst with possible legs.
TRIB
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up around 1% on Tuesday off a gap up that ended below the debut. Stop above the previous day session high (14) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday 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 buy volume on Tuesday means it might have average chances to work. A 13.60 fail would be ideal. Or one at 13.50. No A/H quote. Avoid all big gaps/longs.
RIMM
B/O scan. I like it long back over 8.49 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is arguably 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. Down A/H less than 0.5%. Exiting below 8 on fails after trigger entrance advisable. Early r/g buy?
EROC
Bullish Engulfing. I like this long over the high (9.77) of Tuesday. Small volume on the rise, which is a good 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably too far away to use for stops. Ideally stays above 9.56 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
FBC
Bearish Engulfing. I like it short below the low (1.04) of Tuesday. Modest 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.12ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
BCOV
An over/under play. I like it long over 13.10/holds or on spiking up at or near the bell for a buy scalp, and under 13 or on a dump near there as resistance. Possible spike down scalp short out of the gate. Some ceiling at the above key price level of 13. No A/H quote. Avoid all big gaps. Let it test/perk/decay on gaps over or under the planned entries. Look for daily charts with this pattern, good psychological bearing points.
RP
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use the previous session open alternatively. Trigger is above the high of last time, here above 22.60/holds. Avoid all big gaps, especially up ones. 22.50+ is the ticket. No A/H quote. If it gaps over the trigger or 22.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Possible early weakness r/g move to buy.
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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 14.51) and holds. Avoid shorts/big gaps keep flat on true weakness. Volume formidable Tuesday, a suspect sign for new buys. Needs to keep above the Tuesday close or at least over 13 on pull backs to remain viable as a long, aside from any early noise. Rumor catalyst with possible legs.
TRIB
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up around 1% on Tuesday off a gap up that ended below the debut. Stop above the previous day session high (14) to cap losses on head fake fade entries. More conservatively, stop above the close on Tuesday 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 buy volume on Tuesday means it might have average chances to work. A 13.60 fail would be ideal. Or one at 13.50. No A/H quote. Avoid all big gaps/longs.
RIMM
B/O scan. I like it long back over 8.49 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is arguably 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. Down A/H less than 0.5%. Exiting below 8 on fails after trigger entrance advisable. Early r/g buy?
EROC
Bullish Engulfing. I like this long over the high (9.77) of Tuesday. Small volume on the rise, which is a good 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is arguably too far away to use for stops. Ideally stays above 9.56 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
FBC
Bearish Engulfing. I like it short below the low (1.04) of Tuesday. Modest 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.12ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
BCOV
An over/under play. I like it long over 13.10/holds or on spiking up at or near the bell for a buy scalp, and under 13 or on a dump near there as resistance. Possible spike down scalp short out of the gate. Some ceiling at the above key price level of 13. No A/H quote. Avoid all big gaps. Let it test/perk/decay on gaps over or under the planned entries. Look for daily charts with this pattern, good psychological bearing points.
RP
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very big. Use the previous session open alternatively. Trigger is above the high of last time, here above 22.60/holds. Avoid all big gaps, especially up ones. 22.50+ is the ticket. No A/H quote. If it gaps over the trigger or 22.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Possible early weakness r/g move to buy.
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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