ZPPB
Once again, see my previous comments on this de facto 1st red session Supernovae. It rose a bit on less volume and is essentially a wash in terms of status change. Watch it again for Friday.
ROIAK
Almost 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 1.25) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.15. Needs to keep above the Thursday close, or at least above 1.15 on pull backs to remain viable as a long, aside from any early noise.
FSSIF
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Thursday off a gap down open that ended below the debut. Stop above the Wednesday session high (0.79) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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. Moderate sell volume on Thursday means it might have tepid chances to work. An 0.79 fail would be ideal, or one at 0.75. Avoid big gaps/longs. Gate dump?
AMRN
B/O scan. I like it long back over 9.24 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderately strong volume on the rise, a suspect sign for new buys. Up A/H a bit less than 1%. Exiting below 9 on fails after trigger entry is possibly advisable. Early r/g buy?
WAVX
Bullish Engulfing. I like this long over 1/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is too far away to use for stops. Ideally stays above 0.95 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
CALI
In play both ways. I like this long over 3.75 and short on a fall fail back under 3.75 or a rebuffed attempt. Could use more volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.75 successfully, and overtakes the trigger price. Or the same with a ceiling at 3.75. Any gap over 3.75 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. Down A/H a tad. Stops at about 3.48 for longs and about 3.78 for shorts are one possible risk approach.
FVE
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 Thursday's open for risk control. Trigger is below the low of last time, here under 5.71/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 other idea is to play for a 5.80 fail as the ceiling. Stop above Thursday's high at the most if more aggressive. A bit thin on volume.
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Once again, see my previous comments on this de facto 1st red session Supernovae. It rose a bit on less volume and is essentially a wash in terms of status change. Watch it again for Friday.
ROIAK
Almost 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 1.25) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.15. Needs to keep above the Thursday close, or at least above 1.15 on pull backs to remain viable as a long, aside from any early noise.
FSSIF
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Thursday off a gap down open that ended below the debut. Stop above the Wednesday session high (0.79) to cap losses on head fake fade entries. More conservatively, stop above the close on Thursday 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. Moderate sell volume on Thursday means it might have tepid chances to work. An 0.79 fail would be ideal, or one at 0.75. Avoid big gaps/longs. Gate dump?
AMRN
B/O scan. I like it long back over 9.24 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderately strong volume on the rise, a suspect sign for new buys. Up A/H a bit less than 1%. Exiting below 9 on fails after trigger entry is possibly advisable. Early r/g buy?
WAVX
Bullish Engulfing. I like this long over 1/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is too far away to use for stops. Ideally stays above 0.95 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
CALI
In play both ways. I like this long over 3.75 and short on a fall fail back under 3.75 or a rebuffed attempt. Could use more volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 3.75 successfully, and overtakes the trigger price. Or the same with a ceiling at 3.75. Any gap over 3.75 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. Down A/H a tad. Stops at about 3.48 for longs and about 3.78 for shorts are one possible risk approach.
FVE
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 Thursday's open for risk control. Trigger is below the low of last time, here under 5.71/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 other idea is to play for a 5.80 fail as the ceiling. Stop above Thursday's high at the most if more aggressive. A bit thin on 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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