TAGG
First red day Supernovae. Finished down over 28.5% 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 a lot more likely given the huge degree of reddening Friday. No A/H quote shift. 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 medium, range more imposing. Mixed signals at best.
HGSH
New Supernovae scan return. A 3 day move up which closed below the open and the hod to redden on new intra-day highs. Volume strong most days, big today, too. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Monday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. No A/H quote.
BGFV
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 (12.74) and holds. Up A/H a bit. Avoid shorts, keep flat on true weakness. Nice move above 11.50. Needs to keep above the Friday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise.
F
Red floater scan return. Idea is to play for more, better down side on day 2. Closed red on Friday a bit less than 1% on a gap up. Stop above the previous day session high (11.38) 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. Modest sell volume on Friday which means it might work out well enough. An 11 fail would be ideal. If it goes it might have bit more still for shorts. Down a hair A/H. Avoid all big gaps and longs.
OMEX
B/O scan. I like it long back over 3.08 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 likely 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 fair sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entry is advisable. Early r/g buy?
IDIX
Bullish Engulfing. I like this long over 3.69/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably a bit too far away to use for stops. Ideally stays above 3.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
ALC
In play both ways. I like this long over 9.80 and short on a fall fail back under 9.50 or a rebuffed attempt. Could use a bit more volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 9.80 successfully, and overtakes the trigger price. Or the same with a ceiling at 9.50. Any gap over 9.80 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!
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First red day Supernovae. Finished down over 28.5% 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 a lot more likely given the huge degree of reddening Friday. No A/H quote shift. 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 medium, range more imposing. Mixed signals at best.
HGSH
New Supernovae scan return. A 3 day move up which closed below the open and the hod to redden on new intra-day highs. Volume strong most days, big today, too. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Monday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, avoid scalping long. No A/H quote.
BGFV
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 (12.74) and holds. Up A/H a bit. Avoid shorts, keep flat on true weakness. Nice move above 11.50. Needs to keep above the Friday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise.
F
Red floater scan return. Idea is to play for more, better down side on day 2. Closed red on Friday a bit less than 1% on a gap up. Stop above the previous day session high (11.38) 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. Modest sell volume on Friday which means it might work out well enough. An 11 fail would be ideal. If it goes it might have bit more still for shorts. Down a hair A/H. Avoid all big gaps and longs.
OMEX
B/O scan. I like it long back over 3.08 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 likely 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 fair sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entry is advisable. Early r/g buy?
IDIX
Bullish Engulfing. I like this long over 3.69/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably a bit too far away to use for stops. Ideally stays above 3.50 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
ALC
In play both ways. I like this long over 9.80 and short on a fall fail back under 9.50 or a rebuffed attempt. Could use a bit more volume. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 9.80 successfully, and overtakes the trigger price. Or the same with a ceiling at 9.50. Any gap over 9.80 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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