PBMD
First red day Supernovae. Finished red over 48% 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 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 moderate, range much wider. Weak short signals at best on those counts, but watch it.
HNR
In play both ways. As a long on continuation of momentum above 1.74/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50/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 1.50. The fade is more likely given the price action on Thursday, but keep an open mind.
EHIC
Red floater scan return. Idea is to play for more down side on day 2. Closed red over 1.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (15.55) 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. Big sell volume on Thursday means it may have some chances to work. A 14 fail may be ideal. Avoid big gaps/longs. Panic dump?
UCTT
B/O scan. I like it long back over 6.32 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Small volume on the rise, a good sign for new buys. Exiting below 6.20 on fails after trigger entry is possibly advisable. Early r/g buy?
KNDI
Bullish Engulfing. I like this long over 9.38/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is a bit too far away to use for stops. Ideally stays above 9 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
FSP
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 11.73/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 11.70 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest has not arrived, suggesting reversal upwards is still in the future.
LONG
I like this long on a break out over 21/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Sizable volume gap up decent rise on Thursday. Requires constant monitoring. Stops just under 20 is one risk managing approach, since a fail back under indicates failure on the buy.
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First red day Supernovae. Finished red over 48% 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 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 moderate, range much wider. Weak short signals at best on those counts, but watch it.
HNR
In play both ways. As a long on continuation of momentum above 1.74/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50/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 1.50. The fade is more likely given the price action on Thursday, but keep an open mind.
EHIC
Red floater scan return. Idea is to play for more down side on day 2. Closed red over 1.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (15.55) 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. Big sell volume on Thursday means it may have some chances to work. A 14 fail may be ideal. Avoid big gaps/longs. Panic dump?
UCTT
B/O scan. I like it long back over 6.32 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday is not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Small volume on the rise, a good sign for new buys. Exiting below 6.20 on fails after trigger entry is possibly advisable. Early r/g buy?
KNDI
Bullish Engulfing. I like this long over 9.38/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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is a bit too far away to use for stops. Ideally stays above 9 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
FSP
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 11.73/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 11.70 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest has not arrived, suggesting reversal upwards is still in the future.
LONG
I like this long on a break out over 21/holds. Or on a spike up at or near the gun as a scalp buy. Keep flat on after the noise candle bearish price action or on morning panic dumps. Watch for a early pseudo weakness with a a red to green move to purchase into. Avoid all big gaps and shorts. Possible short squeeze over the trigger. Sizable volume gap up decent rise on Thursday. Requires constant monitoring. Stops just under 20 is one risk managing approach, since a fail back under indicates failure on the 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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