HGSH
First red day Supernovae. Finished down over 2.5% 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 today. 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 small, range more imposing. Mixed signals for shorts.
MEIP
Supernovae, still maturing. See my previous comments, mostly still valid for next time in terms of play management and entry/exit tips, etc. Rose over 61% on even bigger buy volume. Stops over today's high.
PIKE
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 (10.61) and holds. No A/H quote shift. Avoid shorts, keep flat on true weakness. Nice move above 9.75. Needs to keep above the Tuesday close, or at least above 10 on pull backs to remain viable as a long, aside from any early noise.
BRKR
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Tuesday a tad off a gap up that closed under the debut. Stop above the previous session high (14.93) 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. Modest buy volume on Tuesday which means it might work out well enough. A 14.50 fail would be ideal. Down a tad A/H. Avoid all big gaps and longs.
AXAS
B/O scan. I like it long back over 2.28 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 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 shift. Exiting below 2.20 on fails after trigger entry is advisable. Early r/g buy?
BIOF
Bullish Engulfing. I like this long over 5.92/holds. Low volume on the rise, which is a fair 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 too far away to use for stops. Ideally stays above 5.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
CARB
I like this short on over extension on a gap and crap top fish or better a fall fail back under 9/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote shift. Keep in mind many plays like this go on longer than seems rational; it would not surprise me if it overtakes 9.60 and keeps going a bit. Stops above today's high at worst.
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First red day Supernovae. Finished down over 2.5% 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 today. 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 small, range more imposing. Mixed signals for shorts.
MEIP
Supernovae, still maturing. See my previous comments, mostly still valid for next time in terms of play management and entry/exit tips, etc. Rose over 61% on even bigger buy volume. Stops over today's high.
PIKE
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 (10.61) and holds. No A/H quote shift. Avoid shorts, keep flat on true weakness. Nice move above 9.75. Needs to keep above the Tuesday close, or at least above 10 on pull backs to remain viable as a long, aside from any early noise.
BRKR
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Tuesday a tad off a gap up that closed under the debut. Stop above the previous session high (14.93) 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. Modest buy volume on Tuesday which means it might work out well enough. A 14.50 fail would be ideal. Down a tad A/H. Avoid all big gaps and longs.
AXAS
B/O scan. I like it long back over 2.28 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 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 shift. Exiting below 2.20 on fails after trigger entry is advisable. Early r/g buy?
BIOF
Bullish Engulfing. I like this long over 5.92/holds. Low volume on the rise, which is a fair 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 too far away to use for stops. Ideally stays above 5.75 on pull backs to remain viable as a long if it triggers. No big gaps/shorts. No A/H quote.
CARB
I like this short on over extension on a gap and crap top fish or better a fall fail back under 9/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote shift. Keep in mind many plays like this go on longer than seems rational; it would not surprise me if it overtakes 9.60 and keeps going a bit. Stops above today's high at worst.
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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