IMTC
Supernovae, still maturing. See my previous comments, still applicable for entry/exit/trade management approaches. Rose almost 24.5% today on equally big volume as last time. Potential short.
RGRX
First red day Supernovae. Finished down over 10.5% 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 pretty likely given the sizable 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 moderate, range medium. Tepid short signals at best on those counts, but watch it.
PLPL
Although this soared today, a previous session initial red day Supernovae should be watched for new down side. See my comments for it last time. A fade on weakness, no longs.
JOB
New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume increasing 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 Thursday 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.
VAPR
Another new Supernovae, see my comments for JOB above for general approach tips. A staggered move up with today's on less volume. Potential short.
FSPM
In play both ways. As a long on continuation of momentum above 5.27/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. The fade is more likely given the price action on Thursday, but keep an open mind. Up A/H 0.50% so let it settle first before entering.
SBOTF
Bullish Engulfing. I like this long over 1.54/holds. Huge volume on the rise, which is a poor 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably too far away to use as a stop. Ideally stays above 1.45 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 applicable for entry/exit/trade management approaches. Rose almost 24.5% today on equally big volume as last time. Potential short.
RGRX
First red day Supernovae. Finished down over 10.5% 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 pretty likely given the sizable 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 moderate, range medium. Tepid short signals at best on those counts, but watch it.
PLPL
Although this soared today, a previous session initial red day Supernovae should be watched for new down side. See my comments for it last time. A fade on weakness, no longs.
JOB
New Supernovae scan return. A 2 day move up which closed below the highs and above the open. Volume increasing 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 Thursday 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.
VAPR
Another new Supernovae, see my comments for JOB above for general approach tips. A staggered move up with today's on less volume. Potential short.
FSPM
In play both ways. As a long on continuation of momentum above 5.27/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. The fade is more likely given the price action on Thursday, but keep an open mind. Up A/H 0.50% so let it settle first before entering.
SBOTF
Bullish Engulfing. I like this long over 1.54/holds. Huge volume on the rise, which is a poor 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is arguably too far away to use as a stop. Ideally stays above 1.45 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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