ASCC
First red day Supernovae. Finished down almost 47% 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 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 huge, range too. Mixed signals for new shorts.
CRTX
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 10.23) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Wednesday close, or at least above 9.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
URG
Red floater scan return. Idea is to play for more down side on day 2. Closed red about 2.5% on Wednesday off a gap down open that ended below the debut. Stop just above the Wednesday session high (1.18) 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. Big sell volume on Wednesday means it might have poor chances to work. A 1.15 fail would be ideal. Avoid big gaps/longs. Panic dump?
HNR
B/O scan. I like it long back over 3.80 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. Modest volume on the rise, a fair sign for new buys. Up A/H over 2% so wait for a pull back. Exiting below 3.50 on fails after trigger entry is possibly advisable. Early r/g?
BBN
Bullish Engulfing. I like this long over 20.79/holds. Decent volume on the rise, which is a suspect 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 20.66 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
NORX
In play both ways. As a long on continuation of momentum above 1.64/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50 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 1.50. No A/H quote shift. The fade is more likely given the price action on Wednesday, but be flexible given the unclear float.
AINV
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 7.99/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 7.96 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean their interest is waning, suggesting reversal. Not really clear though. 8+ is the ticket for buyers. No A/H quote.
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First red day Supernovae. Finished down almost 47% 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 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 huge, range too. Mixed signals for new shorts.
CRTX
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 10.23) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9. Needs to keep above the Wednesday close, or at least above 9.50 on pull backs to remain viable as a long, aside from any early noise. No A/H quote.
URG
Red floater scan return. Idea is to play for more down side on day 2. Closed red about 2.5% on Wednesday off a gap down open that ended below the debut. Stop just above the Wednesday session high (1.18) 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. Big sell volume on Wednesday means it might have poor chances to work. A 1.15 fail would be ideal. Avoid big gaps/longs. Panic dump?
HNR
B/O scan. I like it long back over 3.80 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. Modest volume on the rise, a fair sign for new buys. Up A/H over 2% so wait for a pull back. Exiting below 3.50 on fails after trigger entry is possibly advisable. Early r/g?
BBN
Bullish Engulfing. I like this long over 20.79/holds. Decent volume on the rise, which is a suspect 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 20.66 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote.
NORX
In play both ways. As a long on continuation of momentum above 1.64/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50 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 1.50. No A/H quote shift. The fade is more likely given the price action on Wednesday, but be flexible given the unclear float.
AINV
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 7.99/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 7.96 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low sell volume, which could mean their interest is waning, suggesting reversal. Not really clear though. 8+ is the ticket for buyers. No A/H quote.
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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