RSOL
New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume modest most days, peak today. 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 on Thursday 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 scalps.
ICAD
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 6.15) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5.50. Needs to keep above the Wednesday close, or at least above 5.50 on pull backs to remain viable as a long, aside from any early noise. 6+ ideal.
HDY
B/O scan. I like it long back over 0.59 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a tepid sign for new buys. No A/H quote. Exiting below 0.55 on fails after trigger entry is possibly advisable. Early r/g?
CRK
Bullish Engulfing. I like this long over 13.89/holds. Moderate volume on the rise, which is a neutral 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 arguably too far away to use for stops. Ideally stays above 13.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
UEC
Bearish Engulfing. I like it short below the low (2.45) of Wednesday. Modest volume on the drop, which is a neutral 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 close, too. The high on that day is arguably a bit too far away to use for risk control via stops. Ideally keeps under 2.54ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
PRCP
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 6.98/holds. Avoid all big gaps, especially up ones. 7+ is the ticket. No A/H quote. If it gaps over the trigger or 7 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
LPHI
I like this short on over extension on a gap and crap top fish (4.13 at most) or better a fall fail back under 4/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Up A/H over 2.5%. Keep in mind many plays like this go on longer than expected; it would not surprise me if it overtakes 4.02 and keeps going a bit. Stops just a bit above today's high possible. No longs.
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New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume modest most days, peak today. 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 on Thursday 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 scalps.
ICAD
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 6.15) and holds. Avoid shorts, keep flat on true weakness. Nice move above 5.50. Needs to keep above the Wednesday close, or at least above 5.50 on pull backs to remain viable as a long, aside from any early noise. 6+ ideal.
HDY
B/O scan. I like it long back over 0.59 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 too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a tepid sign for new buys. No A/H quote. Exiting below 0.55 on fails after trigger entry is possibly advisable. Early r/g?
CRK
Bullish Engulfing. I like this long over 13.89/holds. Moderate volume on the rise, which is a neutral 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 arguably too far away to use for stops. Ideally stays above 13.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
UEC
Bearish Engulfing. I like it short below the low (2.45) of Wednesday. Modest volume on the drop, which is a neutral 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 close, too. The high on that day is arguably a bit too far away to use for risk control via stops. Ideally keeps under 2.54ish on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
PRCP
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 6.98/holds. Avoid all big gaps, especially up ones. 7+ is the ticket. No A/H quote. If it gaps over the trigger or 7 let it test/hold/perk 1st before entering. No shorts, keep flat on redness.
LPHI
I like this short on over extension on a gap and crap top fish (4.13 at most) or better a fall fail back under 4/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Up A/H over 2.5%. Keep in mind many plays like this go on longer than expected; it would not surprise me if it overtakes 4.02 and keeps going a bit. Stops just a bit above today's high possible. No 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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