ZAZA
New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume large Wednesday. 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.
RGLS
Another new Supernovae, see my comments for the above stock, mostly applicable here. A big gap up finished under the open. One day move up on big volume. Potential short.
VII
B/O scan. I like it long back over 2.30 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. Low volume on the rise, a good sign for new buys. Exiting below 2 on fails after trigger entry is possibly advisable. Early r/g buy?
RALY
Bullish Engulfing. I like this long over 9.89/holds. Low volume on the rise, which is a good 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 9.70 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
MGT
In play both ways. As a long on continuation of momentum above 1.10/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/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 1. The fade is more likely given the price action on Wednesday, but keep an open mind.
BRCD
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Wednesday's open for risk control. Trigger is below the low of last time, here under 9.61/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 9.63 let it test/hold/fall from there 1st before entering. No longs. Stop above Wednesday's high at the most if more aggressive.
SHO
Red floater scan return. Idea is to play for more down side on day 2. Closed down under 0.5% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (14.73) 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. Modest sell volume on Wednesday means it may have fair chances to work. A 14.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
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New Supernovae scan return. A 3 day move up which closed below the highs and above the open. Volume large Wednesday. 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.
RGLS
Another new Supernovae, see my comments for the above stock, mostly applicable here. A big gap up finished under the open. One day move up on big volume. Potential short.
VII
B/O scan. I like it long back over 2.30 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. Low volume on the rise, a good sign for new buys. Exiting below 2 on fails after trigger entry is possibly advisable. Early r/g buy?
RALY
Bullish Engulfing. I like this long over 9.89/holds. Low volume on the rise, which is a good 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 9.70 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
MGT
In play both ways. As a long on continuation of momentum above 1.10/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/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 1. The fade is more likely given the price action on Wednesday, but keep an open mind.
BRCD
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Wednesday's open for risk control. Trigger is below the low of last time, here under 9.61/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 9.63 let it test/hold/fall from there 1st before entering. No longs. Stop above Wednesday's high at the most if more aggressive.
SHO
Red floater scan return. Idea is to play for more down side on day 2. Closed down under 0.5% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (14.73) 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. Modest sell volume on Wednesday means it may have fair chances to work. A 14.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
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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