KITD
1st red day Supernovae. Finished down less than 5% last time, so more down side might be in the cards. If it had fallen more than 10% then less 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 nominally likely given the average red result of Thursday. 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 small, range too, fair signals for new shorts. Honor stops.
HOTT
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 10.92) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10. Needs to keep above the Thursday close, or at least above 10.50 on pull backs to remain viable as a long, aside from any early noise.
EWT
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 13.67/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 idea is to play for a 13.70 fail as the ceiling. Stop above Thursday's high at the most if more aggressive. ETF, keep that in mind. Slim pickings today, clearly!
OPK
Red floater scan return. Idea is to play for more, real down side on day 2. Closed flat on Thursday off a gap up that ended equal to the debut. Stop above the Thursday session high (5.07) to cap losses on head fake fade entries. More conservatively, stop above the open 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. Medium sell volume on Thursday means it might have tepid chances to work. A 5 fail would be ideal. Up A/H a tad. Avoid all big gaps/longs. Gate dump?
PLXT
B/O scan. I like it long back over 4.02 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. No A/H quote. Exiting below 3.90 on fails after trigger entry is possibly advisable. Early r/g buy?
SPWR
In play both ways. I like this long over 9.09 and short on a fall fail back under 9 or a rebuffed attempt. Big buy volume today not a plus here. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 9 successfully, and overtakes the trigger price. Or the same with a ceiling at 9. Any gap over 9 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 tad A/H. Essentially this is over/under play revolving around the 9 level.
P
Looking for a technical breakout long on the daily chart above 10/holds. Or a scalp buy from spike ups at or near the gun. No play on real weakness as a short, keep flat on 10 fails, etc. Possible early red to green long off initial pseudo weakness that defeats 10+. Avoid all big gaps. Down A/H a tad. Stops under 9.75.
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1st red day Supernovae. Finished down less than 5% last time, so more down side might be in the cards. If it had fallen more than 10% then less 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 nominally likely given the average red result of Thursday. 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 small, range too, fair signals for new shorts. Honor stops.
HOTT
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 10.92) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10. Needs to keep above the Thursday close, or at least above 10.50 on pull backs to remain viable as a long, aside from any early noise.
EWT
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 13.67/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 idea is to play for a 13.70 fail as the ceiling. Stop above Thursday's high at the most if more aggressive. ETF, keep that in mind. Slim pickings today, clearly!
OPK
Red floater scan return. Idea is to play for more, real down side on day 2. Closed flat on Thursday off a gap up that ended equal to the debut. Stop above the Thursday session high (5.07) to cap losses on head fake fade entries. More conservatively, stop above the open 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. Medium sell volume on Thursday means it might have tepid chances to work. A 5 fail would be ideal. Up A/H a tad. Avoid all big gaps/longs. Gate dump?
PLXT
B/O scan. I like it long back over 4.02 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 arguably too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Low volume on the rise, a fair sign for new buys. No A/H quote. Exiting below 3.90 on fails after trigger entry is possibly advisable. Early r/g buy?
SPWR
In play both ways. I like this long over 9.09 and short on a fall fail back under 9 or a rebuffed attempt. Big buy volume today not a plus here. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 9 successfully, and overtakes the trigger price. Or the same with a ceiling at 9. Any gap over 9 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 tad A/H. Essentially this is over/under play revolving around the 9 level.
P
Looking for a technical breakout long on the daily chart above 10/holds. Or a scalp buy from spike ups at or near the gun. No play on real weakness as a short, keep flat on 10 fails, etc. Possible early red to green long off initial pseudo weakness that defeats 10+. Avoid all big gaps. Down A/H a tad. Stops under 9.75.
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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