BION
Supernovae, still maturing. See my previous comments, mostly still applicable. Big, peak volume Friday on another large gain session. 0.40 fail ideal. Set stop not much above 0.44. Pinkie with unclear float. Caution!
SITO
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 0.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 0.60. Needs to keep above the Friday close, or at least above 0.60 on pull backs to remain viable as a long, aside from any early noise.
ONVO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Friday off a gap up open that ended equal to the debut. Stop above the Friday session high (2.88) 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. Strong buy volume on Friday means it might have decent chances to work. A 2.75 fail would be ideal. Avoid big gaps/longs. Gate dump?
NEPT
B/O scan. I like it long back over 2.10 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 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 2 on fails after trigger entry is possibly advisable. Early r/g buy?
ARCO
Bullish Engulfing. I like this long over 12/holds. Modest 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 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 11.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
WNC
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 Friday's close for risk control. Trigger is below the low of last time, here under 9.08/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 other idea is to play for a 9.20 fail as the ceiling. Stop above Friday's high at the most if more aggressive.
TLAB
Tweezer Bottoms here on a bounce play with support on the daily chart @ 2.30. I like this long over 2.38/holds. I also like it long as a scalp buy on a spike up at or near the gun. No shorts. Avoid all big gaps. No A/H quote shift. Stops just under 2.30 to manage risk. 4 down sessions with decreasing volume.
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Supernovae, still maturing. See my previous comments, mostly still applicable. Big, peak volume Friday on another large gain session. 0.40 fail ideal. Set stop not much above 0.44. Pinkie with unclear float. Caution!
SITO
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 0.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 0.60. Needs to keep above the Friday close, or at least above 0.60 on pull backs to remain viable as a long, aside from any early noise.
ONVO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Friday off a gap up open that ended equal to the debut. Stop above the Friday session high (2.88) 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. Strong buy volume on Friday means it might have decent chances to work. A 2.75 fail would be ideal. Avoid big gaps/longs. Gate dump?
NEPT
B/O scan. I like it long back over 2.10 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 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 2 on fails after trigger entry is possibly advisable. Early r/g buy?
ARCO
Bullish Engulfing. I like this long over 12/holds. Modest 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 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 11.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
WNC
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 Friday's close for risk control. Trigger is below the low of last time, here under 9.08/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 other idea is to play for a 9.20 fail as the ceiling. Stop above Friday's high at the most if more aggressive.
TLAB
Tweezer Bottoms here on a bounce play with support on the daily chart @ 2.30. I like this long over 2.38/holds. I also like it long as a scalp buy on a spike up at or near the gun. No shorts. Avoid all big gaps. No A/H quote shift. Stops just under 2.30 to manage risk. 4 down sessions with decreasing volume.
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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