WUHN
First red day Supernovae. Finished down more than 55% last time, so more down side might not be in the cards. If it had fallen much 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 rather likely given the clear 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 medium, range wider, tepid signals for new shorts.
KBH
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 18.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 17.50. Needs to keep above the Wednesday close, or at least above 18 on pull backs to remain viable as a long, aside from any early noise.
ONP
Red floater scan return. Idea is to play for more down side on day 2. Closed red 4% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (3.19) 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. Big sell volume on Wednesday means it might have suspect chances to work. A 3 fail would be ideal, or one at 2.75. Avoid big gaps/longs. Gate dump?
CORR
B/O scan. I like it long back over 6.98 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 not 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 6.90 on fails after trigger entry is possibly advisable. Early r/g buy? 7+ ideal.
SKUL
Bullish Engulfing. I like this long over 7.01/holds. Low volume on the rise, which is a good 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 6.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Up A/H a tad.
KEG
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 Wednesday's open for risk control. Trigger is below the low of last time, here under 8.01/holds. Avoid all big gaps, especially down ones. No A/H quote shift. 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 an 8.15 fail as the ceiling. Stop above Wednesday's high at the most if more aggressive.
KTOS
Bearish Engulfing. I like it short below the low (4.75) of Wednesday. Modest volume on the drop, which is a decent sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Thursday. More conservatively a stop placed above Wednesday's open, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 4. 80ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
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First red day Supernovae. Finished down more than 55% last time, so more down side might not be in the cards. If it had fallen much 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 rather likely given the clear 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 medium, range wider, tepid signals for new shorts.
KBH
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 18.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 17.50. Needs to keep above the Wednesday close, or at least above 18 on pull backs to remain viable as a long, aside from any early noise.
ONP
Red floater scan return. Idea is to play for more down side on day 2. Closed red 4% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (3.19) 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. Big sell volume on Wednesday means it might have suspect chances to work. A 3 fail would be ideal, or one at 2.75. Avoid big gaps/longs. Gate dump?
CORR
B/O scan. I like it long back over 6.98 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 not 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 6.90 on fails after trigger entry is possibly advisable. Early r/g buy? 7+ ideal.
SKUL
Bullish Engulfing. I like this long over 7.01/holds. Low volume on the rise, which is a good 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 6.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. Up A/H a tad.
KEG
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 Wednesday's open for risk control. Trigger is below the low of last time, here under 8.01/holds. Avoid all big gaps, especially down ones. No A/H quote shift. 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 an 8.15 fail as the ceiling. Stop above Wednesday's high at the most if more aggressive.
KTOS
Bearish Engulfing. I like it short below the low (4.75) of Wednesday. Modest volume on the drop, which is a decent sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Thursday. More conservatively a stop placed above Wednesday's open, too. The high on that day is arguably too far away to use for risk control via stops. Ideally keeps under 4. 80ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
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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