BION
1st red day Supernovae. Finished down over 23% 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 Monday. 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 ditto, poor signals for new shorts. Honor stops.
KITD
New Supernovae scan return. A 5day move up which closed below the highs and above the open. Volume modest most days, now smallest. 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 next time 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.
ALJ
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 18.36) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Tuesday close, or at least above 17.50 on pull backs to remain viable as a long, aside from any early noise.
KRO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed down on Tuesday off a gap up open that ended a bit below the debut. Stop above the Tuesday session high (19.91) to cap losses on head fake fade entries. More conservatively, stop above the close 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. Medium buy volume on Tuesday means it might have tepid chances to work. A 19.50 fail would be ideal. Avoid big gaps/longs. Gate dump?
PGNX
Technical break out over 3.04/holds. This is recent resistance on daily chart. You can also play a fall fail off another ceiling at the above level, but I'm flat on that. Also long on spiking up at or near the gun as a scalp. No A/H quote. Avoid all big gaps. Following up a doji print on the 31st, so a continuation play. Set a stop just under 3 if conservative or just below 2.80 otherwise to manage risk.
CRK
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is fairly large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 15.18/holds. Avoid all big gaps, especially up ones. 15+ is the ticket. No A/H quote. If it gaps over the trigger or 15 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Exit loss under 14.75.
LUV
Bullish Engulfing. I like this long over 10.25/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 Monday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 10 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
Watch FORD off record on an over/under 1.50/holds long/short respectively. In play both ways as of now.
New users: Read my trading guide for my play set-ups!
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1st red day Supernovae. Finished down over 23% 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 Monday. 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 ditto, poor signals for new shorts. Honor stops.
KITD
New Supernovae scan return. A 5day move up which closed below the highs and above the open. Volume modest most days, now smallest. 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 next time 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.
ALJ
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 18.36) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Tuesday close, or at least above 17.50 on pull backs to remain viable as a long, aside from any early noise.
KRO
Red floater scan return. Idea is to play for more, real down side on day 2. Closed down on Tuesday off a gap up open that ended a bit below the debut. Stop above the Tuesday session high (19.91) to cap losses on head fake fade entries. More conservatively, stop above the close 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. Medium buy volume on Tuesday means it might have tepid chances to work. A 19.50 fail would be ideal. Avoid big gaps/longs. Gate dump?
PGNX
Technical break out over 3.04/holds. This is recent resistance on daily chart. You can also play a fall fail off another ceiling at the above level, but I'm flat on that. Also long on spiking up at or near the gun as a scalp. No A/H quote. Avoid all big gaps. Following up a doji print on the 31st, so a continuation play. Set a stop just under 3 if conservative or just below 2.80 otherwise to manage risk.
CRK
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is fairly large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 15.18/holds. Avoid all big gaps, especially up ones. 15+ is the ticket. No A/H quote. If it gaps over the trigger or 15 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Exit loss under 14.75.
LUV
Bullish Engulfing. I like this long over 10.25/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 Monday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 10 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
Watch FORD off record on an over/under 1.50/holds long/short respectively. In play both ways as of now.
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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