RNN
Supernovae, still maturing. See my previous comments, still in effect. Rose in range of 40% on peak volume. Potential short.
CNAT
First red day Supernovae. Finished down over 17% 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 big 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 modest, range moderate. Mixed short signals, but watch it.
CNYD
Another initial red session Supernovae, see my comments on the above play for general approach tips. Potential gravy short. Fell over 12% on modest volume with wider range. Mixed bag here.
SCMP
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 10.90) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9.50. Needs to keep above the Monday close, or at least above 10 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 10.50 are ideal for aggressive entry.
CYTK
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 6.5% on Monday off a gap down open that ended below the debut. Stop just above the Monday session high (9.42) 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. Huge sell volume on Monday means it may have poor chances to work. A 9 fail may be ideal. Avoid big gaps/longs. Panic dump?
RBY
B/O scan. I like it long back over 1.04 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. Sizable volume on the rise, a weak sign for new buys. Exiting below 1 on fails after trigger entry is possibly advisable. Early r/g buy?
SBOTF
Bullish Engulfing. I like this long over 1.76/holds. Modest volume on the rise, which is a decent 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is too far away to use for stops. Ideally stays above 1.65 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
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Supernovae, still maturing. See my previous comments, still in effect. Rose in range of 40% on peak volume. Potential short.
CNAT
First red day Supernovae. Finished down over 17% 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 big 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 modest, range moderate. Mixed short signals, but watch it.
CNYD
Another initial red session Supernovae, see my comments on the above play for general approach tips. Potential gravy short. Fell over 12% on modest volume with wider range. Mixed bag here.
SCMP
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 10.90) and holds. Avoid shorts, keep flat on true weakness. Nice move above 9.50. Needs to keep above the Monday close, or at least above 10 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 10.50 are ideal for aggressive entry.
CYTK
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 6.5% on Monday off a gap down open that ended below the debut. Stop just above the Monday session high (9.42) 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. Huge sell volume on Monday means it may have poor chances to work. A 9 fail may be ideal. Avoid big gaps/longs. Panic dump?
RBY
B/O scan. I like it long back over 1.04 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. Sizable volume on the rise, a weak sign for new buys. Exiting below 1 on fails after trigger entry is possibly advisable. Early r/g buy?
SBOTF
Bullish Engulfing. I like this long over 1.76/holds. Modest volume on the rise, which is a decent 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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is too far away to use for stops. Ideally stays above 1.65 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
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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