MEIP
First red day Supernovae. Finished down less than 5% 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 a bit less likely given the modest degree of reddening Friday. No A/H quote. 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 modest, range more imposing. Mixed signals for shorts.
NVGN
Another 1st red session Supernovae, see the above comments for details, which this play roughly resembles. Fell less than 0.5% on even smaller sell volume, so hopefully it yields more Monday. Stop above Friday high.
CRAY
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 (13.64) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice move above 13. Needs to keep above the Friday close, or at least above 1 on pull backs to remain viable as a long, aside from any early noise.
MXSG
Red floater scan return. Idea is to play for more, real down side on day 2. Closed unchanged on Friday off a gap up that ended below the debut. Stop above the Thursday session high (0.62) 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 sell volume on Friday means it might have tepid chances to work. A 0.60 fail would be ideal. Ignore A/H quote. Avoid all big gaps/longs. Gate dump?
ISIS
B/O scan. I like it long back over 9 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 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. Exiting below 8.50 on fails after trigger entry is advisable. Early r/g buy?
INAP
Bullish Engulfing. I like this long over 6.25/holds. Large volume on the rise, which is a suspect 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 too far away to use for stops. Ideally stays above 6 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
FBHS
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 open alternatively instead. Trigger is above the high of last time, here above 26.93/holds. Avoid all big gaps, especially up ones. 27+ is the ticket. No A/H quote. If it gaps over the trigger or 27 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
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First red day Supernovae. Finished down less than 5% 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 a bit less likely given the modest degree of reddening Friday. No A/H quote. 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 modest, range more imposing. Mixed signals for shorts.
NVGN
Another 1st red session Supernovae, see the above comments for details, which this play roughly resembles. Fell less than 0.5% on even smaller sell volume, so hopefully it yields more Monday. Stop above Friday high.
CRAY
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 (13.64) and holds. No A/H quote. Avoid shorts, keep flat on true weakness. Nice move above 13. Needs to keep above the Friday close, or at least above 1 on pull backs to remain viable as a long, aside from any early noise.
MXSG
Red floater scan return. Idea is to play for more, real down side on day 2. Closed unchanged on Friday off a gap up that ended below the debut. Stop above the Thursday session high (0.62) 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 sell volume on Friday means it might have tepid chances to work. A 0.60 fail would be ideal. Ignore A/H quote. Avoid all big gaps/longs. Gate dump?
ISIS
B/O scan. I like it long back over 9 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 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. Exiting below 8.50 on fails after trigger entry is advisable. Early r/g buy?
INAP
Bullish Engulfing. I like this long over 6.25/holds. Large volume on the rise, which is a suspect 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 too far away to use for stops. Ideally stays above 6 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
FBHS
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 open alternatively instead. Trigger is above the high of last time, here above 26.93/holds. Avoid all big gaps, especially up ones. 27+ is the ticket. No A/H quote. If it gaps over the trigger or 27 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
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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