DGLY
First red day Supernovae. Finished red over 19.5% 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 Wednesday. 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 small, range more substantive. Mixed short signals at best on those counts, but watch it.
JRJC
Treat this as another initial red session Supernovae in effect. Fell less that 7% today on modest volume. Might have a bit more gravy.
HGSH
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Also fell over 15% but on more modest volume. Potential fade but be careful.
AFFY
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Fell less than 7.5% on modest volume, so odds of a short are better here.
VII
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Fell more than 16% on moderate volume, so the odds of a short working are not so promising here, but watch it.
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 3.64) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.50. Needs to keep above the Wednesday close, or at least above 3.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.63 are ideal for aggressive entry.
GALT
B/O scan. I like it long back over 6.35 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is 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 fair sign for new buys. Exiting below 5.50 on fails after trigger entry is possibly advisable. Early r/g buy?
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First red day Supernovae. Finished red over 19.5% 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 Wednesday. 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 small, range more substantive. Mixed short signals at best on those counts, but watch it.
JRJC
Treat this as another initial red session Supernovae in effect. Fell less that 7% today on modest volume. Might have a bit more gravy.
HGSH
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Also fell over 15% but on more modest volume. Potential fade but be careful.
AFFY
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Fell less than 7.5% on modest volume, so odds of a short are better here.
VII
Another initial red session Supernovae. See my comments for DGLY which roughly apply here. Fell more than 16% on moderate volume, so the odds of a short working are not so promising here, but watch it.
EBR
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 3.64) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.50. Needs to keep above the Wednesday close, or at least above 3.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.63 are ideal for aggressive entry.
GALT
B/O scan. I like it long back over 6.35 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is 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 fair sign for new buys. Exiting below 5.50 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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