MEDL
Supernovae, still maturing. Read my previous comments, still applicable. Closed up on a bit less, but still strong volume on a doji print ending below the open. Still looking for a fade play.
XIN
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 4.28) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4. Needs to keep above the Thursday close, or at least above 4 on pull backs to remain viable as a long, aside from any early noise. 4.25+ ideal.
CACH
Red floater scan return. Idea is to play for more down side on day 2. Closed down down over 1% on Thursday off a flat open that ended below the debut. Stop just above the Thursday session high (3.97) 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. Strong sell volume on Thursday means it might have suspect chances to work. A 4 fail would be ideal. Avoid big gaps/longs. Gate dump?
SZYM
B/O scan. I like it long back over 8.57 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 likely 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 8.25 on fails after trigger entry is possibly advisable. Early r/g?
CLD
Bullish Engulfing. I like this long over 17.12/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
BGCP
Bearish Engulfing. I like it short below the low (4.11) of Thursday. Moderate volume on the drop, which is a tepid 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 Friday. More conservatively a stop placed above Thursday's close, too. The high on that day is likely too far away to use for risk control via stops. Ideally keeps under 4.25 on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
PLNR
In play both ways. I like this long over 2.05 and short on a fall fail back under 2 or a rebuffed attempt. Could use less volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 2.05 successfully, and overtakes the trigger price. Or the same with a ceiling at 2. Any gap over 2-2.05 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 about 0.50% A/H. Stops at about 1.98 for longs and about 2.07 for shorts are possibly suggested.
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Supernovae, still maturing. Read my previous comments, still applicable. Closed up on a bit less, but still strong volume on a doji print ending below the open. Still looking for a fade play.
XIN
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 4.28) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4. Needs to keep above the Thursday close, or at least above 4 on pull backs to remain viable as a long, aside from any early noise. 4.25+ ideal.
CACH
Red floater scan return. Idea is to play for more down side on day 2. Closed down down over 1% on Thursday off a flat open that ended below the debut. Stop just above the Thursday session high (3.97) 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. Strong sell volume on Thursday means it might have suspect chances to work. A 4 fail would be ideal. Avoid big gaps/longs. Gate dump?
SZYM
B/O scan. I like it long back over 8.57 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 likely 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 8.25 on fails after trigger entry is possibly advisable. Early r/g?
CLD
Bullish Engulfing. I like this long over 17.12/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.75 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
BGCP
Bearish Engulfing. I like it short below the low (4.11) of Thursday. Moderate volume on the drop, which is a tepid 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 Friday. More conservatively a stop placed above Thursday's close, too. The high on that day is likely too far away to use for risk control via stops. Ideally keeps under 4.25 on any pull ups to remain viable as a short. Avoid all big gaps/longs. No A/H quote.
PLNR
In play both ways. I like this long over 2.05 and short on a fall fail back under 2 or a rebuffed attempt. Could use less volume for buys. Avoid all big gaps. The easiest play will be a flat or nominally up/down debut that challenges 2.05 successfully, and overtakes the trigger price. Or the same with a ceiling at 2. Any gap over 2-2.05 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 about 0.50% A/H. Stops at about 1.98 for longs and about 2.07 for shorts are possibly suggested.
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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