GENE
First red day Supernovae. Finished red over 22.5% 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 quite likely given the big red result of Friday. 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 expansive. Mixed short signals at best on those counts, but watch it.
HLIT
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 7.89) and holds. Avoid shorts, keep flat on true weakness. Nice move above 7.50. Needs to keep above the Friday close, or at least above 7.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 7.65 are ideal for aggressive entry.
CTP
In play both ways. As a long on continuation of momentum above 5.89/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5.50/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 5.50. The fade is more likely given the price action on Friday, but keep an open mind.
BGMD
Red floater scan return. Idea is to play for more down side on day 2. Closed down +1.5% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (1.22) 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. Large sell volume on Friday means it may have some chances to work. A 1 fail may be ideal. Avoid big gaps/longs. Panic dump?
WHZ
B/O scan. I like it long back over 8 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a weak sign for new buys. Exiting below 7.50 on fails after trigger entry is possibly advisable. Early r/g buy?
COSWF
Bullish Engulfing. I like this long over 6.45/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 6 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
STML
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 Friday's close for risk control. Trigger is below the low of last time, here under 15.20/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 15.48 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.
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First red day Supernovae. Finished red over 22.5% 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 quite likely given the big red result of Friday. 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 expansive. Mixed short signals at best on those counts, but watch it.
HLIT
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 7.89) and holds. Avoid shorts, keep flat on true weakness. Nice move above 7.50. Needs to keep above the Friday close, or at least above 7.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 7.65 are ideal for aggressive entry.
CTP
In play both ways. As a long on continuation of momentum above 5.89/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5.50/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 5.50. The fade is more likely given the price action on Friday, but keep an open mind.
BGMD
Red floater scan return. Idea is to play for more down side on day 2. Closed down +1.5% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (1.22) 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. Large sell volume on Friday means it may have some chances to work. A 1 fail may be ideal. Avoid big gaps/longs. Panic dump?
WHZ
B/O scan. I like it long back over 8 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Medium volume on the rise, a weak sign for new buys. Exiting below 7.50 on fails after trigger entry is possibly advisable. Early r/g buy?
COSWF
Bullish Engulfing. I like this long over 6.45/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is too far away to use for stops. Ideally stays above 6 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
STML
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 Friday's close for risk control. Trigger is below the low of last time, here under 15.20/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 15.48 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.
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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