CYCCP
Yet again, see my previous comments, mostly unchanged. Rose a tad on very low volume. Possible short.
FREE
1st red day Supernovae. Finished down over 20% last time, so more down side might not be in the cards. If it had fallen less 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 Wednesday. 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 moderate, range too, tepid signals for new shorts. Honor stops.
NEWL
New Supernovae scan return. A 6 day move up which closed below the highs and above the open. Volume modest 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 Thursday 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.
SVA
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 3.50) and holds. Avoid shorts, keep flat on true weakness. Nice move to 3.50. Needs to keep above the Wednesday close, or at least above 3.40 on pull backs to remain viable as a long, aside from any early noise. OTC stock, be careful and aware. Deep cup correction to reach 3.50 again on daily. This is a key point of resistance, that, if breached and held, could clear the way for further upside.
USAT
Red floater scan return. Idea is to play for more down side on day 2. Closed up on Wednesday off a gap up open that ended under the debut. Stop above the Wednesday session high (2.23) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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. Medium sell volume on Wednesday means it might have tepid chances to work. A 2.20 fail would be ideal. Avoid big gaps/longs. Gate dump? Nice bearish hammer prints lately.
CMVT
B/O scan. I like it long back over 4.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is arguably 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 decent sign for new buys. No A/H quote shift. Exiting below 3.95 on fails after trigger entry is possibly smart. Early r/g buy?
KITD
Bullish Engulfing. I like this long over 0.38.5/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 0.35 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Possible incher for longs over a few days?
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Yet again, see my previous comments, mostly unchanged. Rose a tad on very low volume. Possible short.
FREE
1st red day Supernovae. Finished down over 20% last time, so more down side might not be in the cards. If it had fallen less 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 Wednesday. 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 moderate, range too, tepid signals for new shorts. Honor stops.
NEWL
New Supernovae scan return. A 6 day move up which closed below the highs and above the open. Volume modest 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 Thursday 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.
SVA
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 3.50) and holds. Avoid shorts, keep flat on true weakness. Nice move to 3.50. Needs to keep above the Wednesday close, or at least above 3.40 on pull backs to remain viable as a long, aside from any early noise. OTC stock, be careful and aware. Deep cup correction to reach 3.50 again on daily. This is a key point of resistance, that, if breached and held, could clear the way for further upside.
USAT
Red floater scan return. Idea is to play for more down side on day 2. Closed up on Wednesday off a gap up open that ended under the debut. Stop above the Wednesday session high (2.23) to cap losses on head fake fade entries. More conservatively, stop above the close on Wednesday 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. Medium sell volume on Wednesday means it might have tepid chances to work. A 2.20 fail would be ideal. Avoid big gaps/longs. Gate dump? Nice bearish hammer prints lately.
CMVT
B/O scan. I like it long back over 4.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is arguably 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 decent sign for new buys. No A/H quote shift. Exiting below 3.95 on fails after trigger entry is possibly smart. Early r/g buy?
KITD
Bullish Engulfing. I like this long over 0.38.5/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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 0.35 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Possible incher for longs over a few days?
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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