TECUA
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 6.64) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6. Needs to keep above the Friday close, or at least above 5.80 on pull backs to remain viable as a long, aside from any early noise. Aggressive entry over 6/holds.
PRIM
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (18.31) to cap losses on head fake fade entries. 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 sell volume on Friday means it might have decent chances to work. An 18.30 fail would be ideal, or one at 18. Avoid big gaps/longs. Gate dump?
RNDY
B/O scan. I like it long back over 5.04 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 Tuesday. Avoid all shorts and all big gaps. The low on Friday is 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 fair sign for new buys. No A/H quote. Exiting below 4.90 on fails after trigger entry is possibly advisable. Early r/g buy?
MNI
Bullish Engulfing. I like this long over 3.03/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 Tuesday. 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 3 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
PANL
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 27.41/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 28 fail as the ceiling. Stop above Friday's high at the most if more aggressive.
ONP
I like this short on over extension on a gap and crap top fish or better a fall fail back under 2.50/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 2.50 and keeps going a bit. Stops a bit above Friday's high at worst.
CIMT
Looking for a technical breakout long on the daily chart above 5.60/holds. Or a scalp buy from spike ups at or near the gun. No play on real weakness as a short, keep flat on 5.60 fails, etc. Possible early red to green long off initial pseudo weakness that defeats 5.60+. Avoid all big gaps. No A/H quote. Stops under 5.25.
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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 6.64) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6. Needs to keep above the Friday close, or at least above 5.80 on pull backs to remain viable as a long, aside from any early noise. Aggressive entry over 6/holds.
PRIM
Red floater scan return. Idea is to play for more down side on day 2. Closed red on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (18.31) to cap losses on head fake fade entries. 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 sell volume on Friday means it might have decent chances to work. An 18.30 fail would be ideal, or one at 18. Avoid big gaps/longs. Gate dump?
RNDY
B/O scan. I like it long back over 5.04 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 Tuesday. Avoid all shorts and all big gaps. The low on Friday is 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 fair sign for new buys. No A/H quote. Exiting below 4.90 on fails after trigger entry is possibly advisable. Early r/g buy?
MNI
Bullish Engulfing. I like this long over 3.03/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 Tuesday. 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 3 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
PANL
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 27.41/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 28 fail as the ceiling. Stop above Friday's high at the most if more aggressive.
ONP
I like this short on over extension on a gap and crap top fish or better a fall fail back under 2.50/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. No A/H quote. Keep in mind many plays like this go on to become Supernovae scans; it would not surprise me if it overtakes 2.50 and keeps going a bit. Stops a bit above Friday's high at worst.
CIMT
Looking for a technical breakout long on the daily chart above 5.60/holds. Or a scalp buy from spike ups at or near the gun. No play on real weakness as a short, keep flat on 5.60 fails, etc. Possible early red to green long off initial pseudo weakness that defeats 5.60+. Avoid all big gaps. No A/H quote. Stops under 5.25.
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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