DGLY
A big gap up almost doji printed. It might yet fall Friday. Potential short. See my previous comments.
HGSH
Again, see my previous comments and treat this as an initial red session Supernovae. It fell less than 5.5% today so it might have a bit more downside left.
ISNS
First red day Supernovae. Finished red nearly 11.5% 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 modest, range more substantive. Mixed short signals at best on those counts, but watch it.
CPRX
Almost 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 3.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.20. Needs to keep above the Thursday close, or at least above 3.30 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.41 are ideal for aggressive entry.
OESX
In play both ways. As a long on continuation of momentum above 6.32/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6 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 6. The fade is more likely given the price action on Thursday, but keep an open mind.
RXII
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 6.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (3.75) 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. Decent sell volume on Thursday means it may have suspect chances to work. A 3.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
VHC
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 14.54/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 14.30 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards is not quite there.
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A big gap up almost doji printed. It might yet fall Friday. Potential short. See my previous comments.
HGSH
Again, see my previous comments and treat this as an initial red session Supernovae. It fell less than 5.5% today so it might have a bit more downside left.
ISNS
First red day Supernovae. Finished red nearly 11.5% 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 modest, range more substantive. Mixed short signals at best on those counts, but watch it.
CPRX
Almost 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 3.65) and holds. Avoid shorts, keep flat on true weakness. Nice move above 3.20. Needs to keep above the Thursday close, or at least above 3.30 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 3.41 are ideal for aggressive entry.
OESX
In play both ways. As a long on continuation of momentum above 6.32/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6 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 6. The fade is more likely given the price action on Thursday, but keep an open mind.
RXII
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 6.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (3.75) 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. Decent sell volume on Thursday means it may have suspect chances to work. A 3.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
VHC
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 14.54/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 14.30 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which could mean overt buy interest is still approaching, suggesting reversal upwards is not quite there.
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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