NEWL
1st red day Supernovae. Finished down over 39.5% 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 very 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 huge, range sizable, suspect signals for new shorts. Honor stops.
BFCF
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 1.77) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Friday close, or at least above 1.50 on pull backs to remain viable as a long, aside from any early noise.
BTX
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 under the debut. Stop above the Friday session high (4.62) 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. Medium buy volume on Friday means it might have tepid chances to work. A 4.50 fail would be ideal. Avoid big gaps/longs. Gate dump?
NTRI
B/O scan. I like it long back over 9 or 9.06 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 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. Exiting below 8.80 on fails after trigger entry is possibly smart. Early r/g buy?
PWER
Bullish Engulfing. I like this long over 4.55/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 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 4.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
PERI
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 open for risk control. Trigger is below the low of last time, here under 12.11/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 12 fail as the ceiling. Stop above Friday's high at the most if more aggressive. Tweezer Tops on the daily @ 2.74.
TELK
In play both ways. I like this long over 3.04 and short on a fall fail back under 3 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 3.04 successfully, and overtakes the trigger price. Or the same with a ceiling at 3. Any gap over 3 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 2.78 for longs and just over 3.04 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
1st red day Supernovae. Finished down over 39.5% 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 very 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 huge, range sizable, suspect signals for new shorts. Honor stops.
BFCF
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 1.77) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Friday close, or at least above 1.50 on pull backs to remain viable as a long, aside from any early noise.
BTX
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 under the debut. Stop above the Friday session high (4.62) 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. Medium buy volume on Friday means it might have tepid chances to work. A 4.50 fail would be ideal. Avoid big gaps/longs. Gate dump?
NTRI
B/O scan. I like it long back over 9 or 9.06 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 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. Exiting below 8.80 on fails after trigger entry is possibly smart. Early r/g buy?
PWER
Bullish Engulfing. I like this long over 4.55/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 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 4.40 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
PERI
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 open for risk control. Trigger is below the low of last time, here under 12.11/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 12 fail as the ceiling. Stop above Friday's high at the most if more aggressive. Tweezer Tops on the daily @ 2.74.
TELK
In play both ways. I like this long over 3.04 and short on a fall fail back under 3 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 3.04 successfully, and overtakes the trigger price. Or the same with a ceiling at 3. Any gap over 3 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 2.78 for longs and just over 3.04 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
No comments:
Post a Comment