SR
First red day Supernovae. Finished down a hair last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 not likely given the tiny red result of Monday. 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 low, range a bit wider. At worst, decent short signals.
STXS
Supernovae, still maturing. See my previous comments, mostly unchanged. Rose over 29% on peak volume.
MCOX
New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume modest most days, huge Monday. 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 Tuesday 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, no scalps.
SFES
Another new Supernovae, this one has rose 2 days running, with peak volume today. See my comments for the above stock, which are similar in terms of general approach.
PACB
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 3.45) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Monday 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.
IMMU
Bullish Engulfing. I like this long over 5.60/holds. Modest 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 5.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift.
ARNA
B/O scan. I like it long back over 7.53 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a middling sign for new buys. Down A/H less than 0.50%. Exiting below 7.25 on fails after trigger entry is possibly advisable. Early r/g?
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First red day Supernovae. Finished down a hair last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 not likely given the tiny red result of Monday. 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 low, range a bit wider. At worst, decent short signals.
STXS
Supernovae, still maturing. See my previous comments, mostly unchanged. Rose over 29% on peak volume.
MCOX
New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume modest most days, huge Monday. 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 Tuesday 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, no scalps.
SFES
Another new Supernovae, this one has rose 2 days running, with peak volume today. See my comments for the above stock, which are similar in terms of general approach.
PACB
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 3.45) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3. Needs to keep above the Monday 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.
IMMU
Bullish Engulfing. I like this long over 5.60/holds. Modest 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 5.50 on pull backs to remain viable as a long if it triggers. No big gaps or shorts. No A/H quote shift.
ARNA
B/O scan. I like it long back over 7.53 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Moderate volume on the rise, a middling sign for new buys. Down A/H less than 0.50%. Exiting below 7.25 on fails after trigger entry is possibly advisable. Early r/g?
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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