TAGG
Supernovae, still maturing. See my comments for last time, still in effect. Rose by over 23.5% today by lessening volume but still fair. Still waiting for a short on this.
GLDD
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 7.99) 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 7.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
OSTK
Red floater scan return. Idea is to play for more down side on day 2. Closed red a bit more than 2.5% on Wednesday off a gap up that ended below the debut. Stop above the previous day session high (16.00) 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. Fair sell volume on Wednesday means it might have unclear chances to work. A 15 fail would be ideal. Or one at 16. Avoid all big gaps/longs. 15 fail or gate dump?
ABFS
B/O scan. I like it long back over 8.05 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. Medium volume on the rise, a neutral sign for new buys. No A/H quote. Exiting below 7.75 on fails after trigger entry is advisable. 8+ ideal. Early r/g buy?
DGIT
Bullish Engulfing. I like this long over 9.41/holds. Low 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 Thursday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 9.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
XNPT
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very sizable. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 8.24/holds. Avoid all big gaps, especially up ones. 8+ is the ticket. No A/H quote. If it gaps over the trigger or 8 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
HGSH
In play both ways. I like this long over 1.10 and short on a fall fail back under 1 or a rebuffed attempt. Could use a bit less volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 1.10 successfully, and overtakes the trigger price. Or the same with a ceiling at 1. Any gap over 1.10 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.
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Supernovae, still maturing. See my comments for last time, still in effect. Rose by over 23.5% today by lessening volume but still fair. Still waiting for a short on this.
GLDD
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 7.99) 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 7.75 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
OSTK
Red floater scan return. Idea is to play for more down side on day 2. Closed red a bit more than 2.5% on Wednesday off a gap up that ended below the debut. Stop above the previous day session high (16.00) 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. Fair sell volume on Wednesday means it might have unclear chances to work. A 15 fail would be ideal. Or one at 16. Avoid all big gaps/longs. 15 fail or gate dump?
ABFS
B/O scan. I like it long back over 8.05 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. Medium volume on the rise, a neutral sign for new buys. No A/H quote. Exiting below 7.75 on fails after trigger entry is advisable. 8+ ideal. Early r/g buy?
DGIT
Bullish Engulfing. I like this long over 9.41/holds. Low 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 Thursday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 9.20 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
XNPT
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very sizable. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 8.24/holds. Avoid all big gaps, especially up ones. 8+ is the ticket. No A/H quote. If it gaps over the trigger or 8 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
HGSH
In play both ways. I like this long over 1.10 and short on a fall fail back under 1 or a rebuffed attempt. Could use a bit less volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 1.10 successfully, and overtakes the trigger price. Or the same with a ceiling at 1. Any gap over 1.10 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.
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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