AMPL
New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume big most days, now peak. 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 Friday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime 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.
BOSC
Another new Supernovae play, this one had a staggered 5-6 day move up. Closed down today on heavy volume. See my comments for the above stock, which this one roughly resembles, for entry and trade management tips. No A/H quote. Stops a bit higher than 6 are one conservative risk control plan.
WGO
New 52's. Short term, these yearly high stocks often 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 (over 16.42) and holds. Avoid shorts, keep flat on true weakness. Nice move above 15. Needs to keep above the Thursday close, or at least above 16 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
SCHW
Red floater scan return. Idea is to play for more down side on day 2. Closed down on Thursday off a gap up that ended below the debut. Stop above the Thursday session high (14.56) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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. Moderate sell volume on Thursday means it might have no better than even chances to work. A 14.50 fail would be ideal. Double top near it. No A/H quote. Avoid big gaps/longs. Gate dump?
KTOS
B/O scan. I like it long back over 5.03 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is arguably not 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 4.90 on fails after trigger entry is possibly advisable. Early r/g buy?
ELOS
Bullish Engulfing. I like this long over 8.73/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is 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.
KGC
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is fairly large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 9.42/holds. Avoid all big gaps, especially up ones. 9.50+ is the ticket. No A/H quote. If it gaps over the trigger or 9.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Support near 9?
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New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume big most days, now peak. 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 Friday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime 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.
BOSC
Another new Supernovae play, this one had a staggered 5-6 day move up. Closed down today on heavy volume. See my comments for the above stock, which this one roughly resembles, for entry and trade management tips. No A/H quote. Stops a bit higher than 6 are one conservative risk control plan.
WGO
New 52's. Short term, these yearly high stocks often 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 (over 16.42) and holds. Avoid shorts, keep flat on true weakness. Nice move above 15. Needs to keep above the Thursday close, or at least above 16 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
SCHW
Red floater scan return. Idea is to play for more down side on day 2. Closed down on Thursday off a gap up that ended below the debut. Stop above the Thursday session high (14.56) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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. Moderate sell volume on Thursday means it might have no better than even chances to work. A 14.50 fail would be ideal. Double top near it. No A/H quote. Avoid big gaps/longs. Gate dump?
KTOS
B/O scan. I like it long back over 5.03 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is arguably not 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 4.90 on fails after trigger entry is possibly advisable. Early r/g buy?
ELOS
Bullish Engulfing. I like this long over 8.73/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is 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.
KGC
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is fairly large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 9.42/holds. Avoid all big gaps, especially up ones. 9.50+ is the ticket. No A/H quote. If it gaps over the trigger or 9.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Support near 9?
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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