ECRY
First red day Supernovae. Finished red over 63.5% 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 huge 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 wider. Weak short signals at best on those counts, but watch it.
CTIX
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up under 1% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (4.59) 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 volume on Wednesday means it may have unclear chances to work. A 4.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
CRNT
B/O scan. I like it long back over 1.13 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 neutral sign for new buys. Exiting below 1.06 on fails after trigger entry is possibly advisable. Early r/g buy?
IRR
Bullish Engulfing. I like this long over 8.44/holds. Large 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 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 8.30 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
JQC
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 open alternatively instead. Trigger is above the high of last time, here above 8.75/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 8.75 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate sell volume, which could mean overt buy interest is unclear suggesting reversal upwards is still in progress.
CLDN
I like this short on over extension on a gap and crap top fish or better a fall fail back under 18/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 18.23 and keeps going a bit. Stops above Wednesday's high at worst. May not be done yet.
NBIX
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 22) and holds. Avoid shorts, keep flat on true weakness. Nice move above 20. Needs to keep above the Wednesday close, or at least above 21 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 21.89 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
First red day Supernovae. Finished red over 63.5% 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 huge 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 wider. Weak short signals at best on those counts, but watch it.
CTIX
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up under 1% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (4.59) 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 volume on Wednesday means it may have unclear chances to work. A 4.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
CRNT
B/O scan. I like it long back over 1.13 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 neutral sign for new buys. Exiting below 1.06 on fails after trigger entry is possibly advisable. Early r/g buy?
IRR
Bullish Engulfing. I like this long over 8.44/holds. Large 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 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 8.30 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
JQC
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 open alternatively instead. Trigger is above the high of last time, here above 8.75/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 8.75 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Moderate sell volume, which could mean overt buy interest is unclear suggesting reversal upwards is still in progress.
CLDN
I like this short on over extension on a gap and crap top fish or better a fall fail back under 18/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 18.23 and keeps going a bit. Stops above Wednesday's high at worst. May not be done yet.
NBIX
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 22) and holds. Avoid shorts, keep flat on true weakness. Nice move above 20. Needs to keep above the Wednesday close, or at least above 21 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 21.89 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