CTSO
First red day Supernovae. Finished down over 14.5% 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 Thursday. 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 big, range too. Lame short signals at best, but watch it.
KOOL
Supernovae still maturing. See my previous comments, still in effect for general approaches. Rose over 4.5% today on modest volume. May fade on weakness soon, if not Friday.
AYSI
New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest most days, huge peak Thursday. 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 Friday 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.
NSSC
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 7.25) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6.50. Needs to keep above the Thursday close, or at least above 6.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 7 are ideal for aggressive entry.
FNJN
In play both ways. As a long on continuation of momentum above 9.49/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9 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 9. The fade is more likely given the price action on Thursday, but keep an open mind.
SGYP
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 5.53/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 5.46 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards may soon be at hand.
OMEX
B/O scan. I like it long back over 2.14 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 probably 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 decent sign for new buys. Exiting below 2 on fails after trigger entry is possibly advisable. Early r/g buy?
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First red day Supernovae. Finished down over 14.5% 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 Thursday. 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 big, range too. Lame short signals at best, but watch it.
KOOL
Supernovae still maturing. See my previous comments, still in effect for general approaches. Rose over 4.5% today on modest volume. May fade on weakness soon, if not Friday.
AYSI
New Supernovae scan return. A 1 day move up which closed below the highs and above the open. Volume modest most days, huge peak Thursday. 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 Friday 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.
NSSC
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 7.25) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6.50. Needs to keep above the Thursday close, or at least above 6.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 7 are ideal for aggressive entry.
FNJN
In play both ways. As a long on continuation of momentum above 9.49/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9 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 9. The fade is more likely given the price action on Thursday, but keep an open mind.
SGYP
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 5.53/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 5.46 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards may soon be at hand.
OMEX
B/O scan. I like it long back over 2.14 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 probably 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 decent sign for new buys. Exiting below 2 on fails after trigger entry is possibly advisable. Early r/g buy?
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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