NVGN
Supernovae, still maturing. See my previous comments, still mostly applicable. Rose almost 26% today on peak volume. Avoid big gaps, especially down ones. No A/H quote shift. No longs.
CHMP
First red day Supernovae. Finished down more than 14% 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 pretty likely given the big 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 small, range bigger, mixed signals for new shorts.
CHTP
New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest most days, peak/huge 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.
MIG
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 1% on Wednesday off a gap down open that ended below the debut. Stop just above the Wednesday session high (7.03) 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. Small sell volume on Wednesday means it might have some chances to work. A 7 fail is ideal. Up A/H over 0.5%. Avoid big gaps/longs. Gate dump?
END
Bullish Engulfing. I like this long over 3.42/holds. Moderate volume on the rise, which is a tepid 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 likely too far away to use for stops. Ideally stays above 3.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
ARAY
Bearish Engulfing. I like it short below the low (4.43) of Wednesday. Low volume on the drop, which is a fair 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 not too far away to use for risk control via stops. Ideally keeps under 4.60ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
MERU
In play both ways. As a long on continuation of momentum above 4.20/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4/holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. No A/H quote. Low float stock, be careful if shorting on any reversal back over 4.
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Supernovae, still maturing. See my previous comments, still mostly applicable. Rose almost 26% today on peak volume. Avoid big gaps, especially down ones. No A/H quote shift. No longs.
CHMP
First red day Supernovae. Finished down more than 14% 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 pretty likely given the big 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 small, range bigger, mixed signals for new shorts.
CHTP
New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest most days, peak/huge 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.
MIG
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 1% on Wednesday off a gap down open that ended below the debut. Stop just above the Wednesday session high (7.03) 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. Small sell volume on Wednesday means it might have some chances to work. A 7 fail is ideal. Up A/H over 0.5%. Avoid big gaps/longs. Gate dump?
END
Bullish Engulfing. I like this long over 3.42/holds. Moderate volume on the rise, which is a tepid 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 likely too far away to use for stops. Ideally stays above 3.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
ARAY
Bearish Engulfing. I like it short below the low (4.43) of Wednesday. Low volume on the drop, which is a fair 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 not too far away to use for risk control via stops. Ideally keeps under 4.60ish on any pull ups to remain viable as a short. Avoid all big gaps/longs.
MERU
In play both ways. As a long on continuation of momentum above 4.20/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 4/holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. No A/H quote. Low float stock, be careful if shorting on any reversal back over 4.
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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