IVAN
1st red day Supernovae. Finished down less than 7% last time, so more down side might be in the cards. 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 modestly likely given the fair red result of Wednesday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was modest, range moderate, decent signals for new shorts. Honor stops.
BGMD
Another 1st red session Supernovae, this one has analysis similar to that for the above play. See those comments for rough guidelines. It fell over 6% on big sell volume, with wider range, so that's less encouraging. Up over 0.55 A/H.
CTIX
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Wednesday off a gap up that ended below the debut. Stop above the Wednesday session high (1.51) 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. Modest sell volume on Wednesday means it might have fair chances to work. A 1.50 fail would be ideal, or one at 1.45. Down A/H over 2%. Avoid big gaps/longs. Gate dump?
ZNGA
B/O scan. I like it long back over 2.68 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 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. Up a tad A/H. Exiting below 2.50 on fails after trigger entry is advisable. Early r/g buy?
KTOS
Bullish Engulfing. I like this long over 4.48/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 4.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift.
RTK
Bearish Engulfing. I like it short below the low (2.93) of Wednesday. Medium volume on the drop, which is a neutral 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 Thursday. More conservatively a stop placed above Wednesday's open, too. The high on that day is likely not too far away to use for risk control via stops. Ideally keeps under 3ish on any pull ups to remain viable short. No A/H quote shift. Avoid all big gaps/longs.
LGCY
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is somewhat large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 23.49/holds. Avoid all big gaps, especially up ones. 23+ is the ticket. No A/H quote. If it gaps over the trigger or 23 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
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1st red day Supernovae. Finished down less than 7% last time, so more down side might be in the cards. 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 modestly likely given the fair red result of Wednesday. 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 after the noise candle. Avoid spike up long scalps, too. Selling volume was modest, range moderate, decent signals for new shorts. Honor stops.
BGMD
Another 1st red session Supernovae, this one has analysis similar to that for the above play. See those comments for rough guidelines. It fell over 6% on big sell volume, with wider range, so that's less encouraging. Up over 0.55 A/H.
CTIX
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Wednesday off a gap up that ended below the debut. Stop above the Wednesday session high (1.51) 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. Modest sell volume on Wednesday means it might have fair chances to work. A 1.50 fail would be ideal, or one at 1.45. Down A/H over 2%. Avoid big gaps/longs. Gate dump?
ZNGA
B/O scan. I like it long back over 2.68 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 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. Up a tad A/H. Exiting below 2.50 on fails after trigger entry is advisable. Early r/g buy?
KTOS
Bullish Engulfing. I like this long over 4.48/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 4.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift.
RTK
Bearish Engulfing. I like it short below the low (2.93) of Wednesday. Medium volume on the drop, which is a neutral 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 Thursday. More conservatively a stop placed above Wednesday's open, too. The high on that day is likely not too far away to use for risk control via stops. Ideally keeps under 3ish on any pull ups to remain viable short. No A/H quote shift. Avoid all big gaps/longs.
LGCY
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is somewhat large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 23.49/holds. Avoid all big gaps, especially up ones. 23+ is the ticket. No A/H quote. If it gaps over the trigger or 23 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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