OSH
First red day Supernovae. Finished down almost 18% 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 is very likely given the large red result of Tuesday. 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 modest, range wider. Mixed signals for new shorts.
ASCC
Supernovae, still maturing. See my previous comments, still in effect. Rose on peaking volume over 34.5%.
BEAT
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 3.40) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Tuesday close, or at least above 3.25 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
LPTH
Red floater scan return. Idea is to play for more down side on day 2. Closed red about 5.5% on Tuesday off a gap down open that ended below the debut. Stop just above the Tuesday session high (1.47) 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. Moderate sell volume on Tuesday means it might have unclear chances to work. A 1.40 fail would be ideal. Avoid big gaps/longs. Panic dump?
SVNT
B/O scan. I like it long back over 0.66 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Large volume on the rise, a poor sign for new buys. Up A/H over 2.5% so wait for a pull back. Exiting below 0.62 on fails after trigger entry is possibly advisable. Early r/g?
ALXA
Bullish Engulfing. I like this long over 4.51/holds. Low volume on the rise, which is a fair 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 4.35 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
NVGN
In play both ways. As a long on continuation of momentum above 5.50/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 5. No A/H quote. The fade is more likely given the price action on Tuesday, but be flexible here given the low float.
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First red day Supernovae. Finished down almost 18% 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 is very likely given the large red result of Tuesday. 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 modest, range wider. Mixed signals for new shorts.
ASCC
Supernovae, still maturing. See my previous comments, still in effect. Rose on peaking volume over 34.5%.
BEAT
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 3.40) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Tuesday close, or at least above 3.25 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
LPTH
Red floater scan return. Idea is to play for more down side on day 2. Closed red about 5.5% on Tuesday off a gap down open that ended below the debut. Stop just above the Tuesday session high (1.47) 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. Moderate sell volume on Tuesday means it might have unclear chances to work. A 1.40 fail would be ideal. Avoid big gaps/longs. Panic dump?
SVNT
B/O scan. I like it long back over 0.66 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Large volume on the rise, a poor sign for new buys. Up A/H over 2.5% so wait for a pull back. Exiting below 0.62 on fails after trigger entry is possibly advisable. Early r/g?
ALXA
Bullish Engulfing. I like this long over 4.51/holds. Low volume on the rise, which is a fair 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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 4.35 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
NVGN
In play both ways. As a long on continuation of momentum above 5.50/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 5. No A/H quote. The fade is more likely given the price action on Tuesday, but be flexible here given the low float.
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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