CUAU
1st red day Supernovae. Finished down less than 9% 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 somewhat likely given the decent 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 modest, range too, OK signals for new shorts. Honor stops.
ALDA
New 52's. Short term, these yearly high stocks usually 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 3.94) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Tuesday close, or at least above 3.50 on pull backs to remain viable as a long, aside from any early noise.
TIVO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Tuesday off a gap up that ended below the debut. Stop above the Tuesday session high (11.89) to cap losses on head fake fade entries. More conservatively, stop above the open 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. Modest buy volume on Tuesday means it might have fair chances to work. An 11.78 fail would be ideal, or one at 11.90. Down A/H a teeny tad. Avoid all big gaps/longs. Gate dump?
CECO
B/O scan. I like it long back over 3.16 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a tepid sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entry is advisable. Early r/g buy? 3+ ideal price action.
TASR
Bullish Engulfing. I like this long over 8.33/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is likely not too far away to use for stops. Also a psychological stop level is there. Ideally stays above 8.12 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
AMD
Bearish Engulfing. I like it short below the low (2.21) of Tuesday. 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 2.36ish on any pull ups to remain viable short. Up A/H +0.5%. Avoid all big gaps/longs.
NOG
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 over Tuesday's close for risk control. Trigger is below the low of last time, here under 15.71/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 15.75 fail as the floor. Stop above Tuesday's high at the most if more aggressive.
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1st red day Supernovae. Finished down less than 9% 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 somewhat likely given the decent 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 modest, range too, OK signals for new shorts. Honor stops.
ALDA
New 52's. Short term, these yearly high stocks usually 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 3.94) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Tuesday close, or at least above 3.50 on pull backs to remain viable as a long, aside from any early noise.
TIVO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up on Tuesday off a gap up that ended below the debut. Stop above the Tuesday session high (11.89) to cap losses on head fake fade entries. More conservatively, stop above the open 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. Modest buy volume on Tuesday means it might have fair chances to work. An 11.78 fail would be ideal, or one at 11.90. Down A/H a teeny tad. Avoid all big gaps/longs. Gate dump?
CECO
B/O scan. I like it long back over 3.16 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a tepid sign for new buys. No A/H quote. Exiting below 3 on fails after trigger entry is advisable. Early r/g buy? 3+ ideal price action.
TASR
Bullish Engulfing. I like this long over 8.33/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is likely not too far away to use for stops. Also a psychological stop level is there. Ideally stays above 8.12 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
AMD
Bearish Engulfing. I like it short below the low (2.21) of Tuesday. 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 Wednesday. More conservatively a stop placed above Tuesday's close, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 2.36ish on any pull ups to remain viable short. Up A/H +0.5%. Avoid all big gaps/longs.
NOG
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 over Tuesday's close for risk control. Trigger is below the low of last time, here under 15.71/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 15.75 fail as the floor. Stop above Tuesday's high at the most if more aggressive.
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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