CRME
1st red day Supernovae. Finished down over 10% last time, so more down side might not be in the cards. If it had fallen less more 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 is fairly likely given the big red result of Tuesday. 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 small, range sizable, mixed signals for new shorts. Honor stops.
TASR
A nice prior mover, this one I like long above 8.50/holds. Nice move back over 8. New annuals over 9.26. Modest volume on the rise, a good sign. No shorts. Avoid all big gaps. Ideal is a flat or nominally up or down debut, with moves over the target price early post noise candle for the buy. Scalp longs too on spike ups at or near the bell. Down a bit over 0.5% A/H. Possible early red to green move to purchase.
ONCY
Red floater scan return. Idea is to play for more down side on day 2. Closed up on Tuesday off a gap up that ended below the debut. Stop above the Tuesday session high (3.50) 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. Low, declining buy volume on Tuesday means it might have a bit better than even chances to work. A 3.50 fail would be ideal. No A/H quote. Avoid big gaps/longs. Gate dump?
WIN
B/O scan. I like it long back over 9.03 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 not 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 fair sign for new buys. No A/H quote. Exiting below 8.80 on fails after trigger entry is possibly advisable. Early r/g buy?
NCV
Bullish Engulfing. I like this long over 8.69/holds. Medium volume on the rise, which is a tepid 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 arguably not too far away to use for stops. Ideally stays above 8.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
HOTT
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Tuesday's open for risk control. Trigger is below the low of last time, here under 9.95/holds. Avoid all big gaps, especially down ones. No A/H quote. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. The idea is to play for a 10 fail as the ceiling. Stop above Tuesday's high at the most if more aggressive.
DRWI
In play both ways. I like this long over 3.03 and short on a fall fail back under 3 or a rebuffed attempt. Could use less volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.03 successfully, and overtakes the trigger price. Or the same with a ceiling at 3. Any gap over 3 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. Down almost 2.5% A/H, but it could test 3 and stall there setting up a nice short. Stops just a bit over or under 3.
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1st red day Supernovae. Finished down over 10% last time, so more down side might not be in the cards. If it had fallen less more 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 is fairly likely given the big red result of Tuesday. 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 small, range sizable, mixed signals for new shorts. Honor stops.
TASR
A nice prior mover, this one I like long above 8.50/holds. Nice move back over 8. New annuals over 9.26. Modest volume on the rise, a good sign. No shorts. Avoid all big gaps. Ideal is a flat or nominally up or down debut, with moves over the target price early post noise candle for the buy. Scalp longs too on spike ups at or near the bell. Down a bit over 0.5% A/H. Possible early red to green move to purchase.
ONCY
Red floater scan return. Idea is to play for more down side on day 2. Closed up on Tuesday off a gap up that ended below the debut. Stop above the Tuesday session high (3.50) 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. Low, declining buy volume on Tuesday means it might have a bit better than even chances to work. A 3.50 fail would be ideal. No A/H quote. Avoid big gaps/longs. Gate dump?
WIN
B/O scan. I like it long back over 9.03 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 not 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 fair sign for new buys. No A/H quote. Exiting below 8.80 on fails after trigger entry is possibly advisable. Early r/g buy?
NCV
Bullish Engulfing. I like this long over 8.69/holds. Medium volume on the rise, which is a tepid 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 arguably not too far away to use for stops. Ideally stays above 8.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
HOTT
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Tuesday's open for risk control. Trigger is below the low of last time, here under 9.95/holds. Avoid all big gaps, especially down ones. No A/H quote. If it gaps under the trigger let it test/hold/fall from there 1st before entering. No longs. The idea is to play for a 10 fail as the ceiling. Stop above Tuesday's high at the most if more aggressive.
DRWI
In play both ways. I like this long over 3.03 and short on a fall fail back under 3 or a rebuffed attempt. Could use less volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.03 successfully, and overtakes the trigger price. Or the same with a ceiling at 3. Any gap over 3 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. Down almost 2.5% A/H, but it could test 3 and stall there setting up a nice short. Stops just a bit over or under 3.
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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