AMPL
1st red day Supernovae. Finished down over 12.5% 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 Friday. 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 medium, range sizable, suspect signals for new shorts. Honor stops.
BOSC
Another 1st red session Supernovae play, see above comments for details which this roughly resembles. It fell less than 5% on small volume, a key difference which helps the cause of shorts. But it fell on bigger volume the previous day, so Monday would be 3 days running red, which seems questionable. Stop over 6.
ALJ
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 15.85) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14.75. Needs to keep above the Friday close, or at least above 15 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
INN
Red floater scan return. Idea is to play for more down side on day 2. Closed down on Friday off a flat open that ended below the debut. Stop above the Friday session high (9.33) 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. Low sell volume on Friday means it might have better than even chances to work. A 9.20 fail would be ideal. No A/H quote. Avoid big gaps/longs. Gate dump?
AMD
B/O scan. I like it long back over 2.59 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 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 2.40 on fails after trigger entry is possibly advisable. Early r/g buy?
AUY
Bullish Engulfing. I like this long over 17.15/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
HALO
In play both ways. I like this long over 7.19 and short on a fall fail back under 7 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 7.19 successfully, and overtakes the trigger price. Or the same with a ceiling at 7. Any gap over 7 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. No A/H quote. Stops at about 6.80 for longs and just over 7.19 for shorts are one possible risk approach.
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1st red day Supernovae. Finished down over 12.5% 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 Friday. 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 medium, range sizable, suspect signals for new shorts. Honor stops.
BOSC
Another 1st red session Supernovae play, see above comments for details which this roughly resembles. It fell less than 5% on small volume, a key difference which helps the cause of shorts. But it fell on bigger volume the previous day, so Monday would be 3 days running red, which seems questionable. Stop over 6.
ALJ
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 15.85) and holds. Avoid shorts, keep flat on true weakness. Nice move above 14.75. Needs to keep above the Friday close, or at least above 15 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
INN
Red floater scan return. Idea is to play for more down side on day 2. Closed down on Friday off a flat open that ended below the debut. Stop above the Friday session high (9.33) 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. Low sell volume on Friday means it might have better than even chances to work. A 9.20 fail would be ideal. No A/H quote. Avoid big gaps/longs. Gate dump?
AMD
B/O scan. I like it long back over 2.59 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 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 2.40 on fails after trigger entry is possibly advisable. Early r/g buy?
AUY
Bullish Engulfing. I like this long over 17.15/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
HALO
In play both ways. I like this long over 7.19 and short on a fall fail back under 7 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 7.19 successfully, and overtakes the trigger price. Or the same with a ceiling at 7. Any gap over 7 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. No A/H quote. Stops at about 6.80 for longs and just over 7.19 for shorts are one possible risk approach.
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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