NVLX
This rose big again. See my previous comments for this former A Supernovae once more. Another red session for a fade still possible, since it's up so much. Only on weakness, though. Box and drop?
HERB
First red day Supernovae. Finished over 18% 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 rather 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 as well. Suspect short signals at best on those counts, but watch it.
ELTP
Another initial red session Supernovae. See my comments for HERB above, which roughly are applicable. Finished down less than 10% though on moderate volume. Potential short.
EXCC
Yet another initial red day Supernovae scan. See my comments for HERB above, for general approach tips. Fell over 11% today on modest volume. So mixed signals on that count. Fade play.
WLCDF
New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume increased most days in the run, 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.
JOES
Another new Supernovae, this one rose 20% on peak volume. See my comments for the above stock for general approach tips on this similar play. 4 day riser. Possible short.
DANG
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 13.44) and holds. Avoid shorts, keep flat on true weakness. Nice move above 11. Needs to keep above the Thursday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13 are ideal for aggressive entry.
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
This rose big again. See my previous comments for this former A Supernovae once more. Another red session for a fade still possible, since it's up so much. Only on weakness, though. Box and drop?
HERB
First red day Supernovae. Finished over 18% 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 rather 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 as well. Suspect short signals at best on those counts, but watch it.
ELTP
Another initial red session Supernovae. See my comments for HERB above, which roughly are applicable. Finished down less than 10% though on moderate volume. Potential short.
EXCC
Yet another initial red day Supernovae scan. See my comments for HERB above, for general approach tips. Fell over 11% today on modest volume. So mixed signals on that count. Fade play.
WLCDF
New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume increased most days in the run, 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.
JOES
Another new Supernovae, this one rose 20% on peak volume. See my comments for the above stock for general approach tips on this similar play. 4 day riser. Possible short.
DANG
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 13.44) and holds. Avoid shorts, keep flat on true weakness. Nice move above 11. Needs to keep above the Thursday close, or at least above 12 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 13 are ideal for aggressive entry.
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
No comments:
Post a Comment