IO
Watch once more. Still up a lot. Fell today under 35% on modest volume.
BONT
First red day Supernovae. Finished red under 4% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 modestly likely given the middling red result of Monday. 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 larger. Mixed short signals at best on those counts, but watch it.
NCTY
Another initial red session Supernovae. See my comments above and treat similarly.
CNIT
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume near highs Monday. 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 Tuesday 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.
CMLS
Another new Supernovae. See my comments for CNIT above. Several days up, middling volume.
MNGA
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 1.63) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Monday close, or at least above 1.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.61 are ideal for aggressive entry.
PEIX
In play both ways. As a long on continuation of momentum above 5.12/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/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 5.12. The fade is more likely given the price action on Monday, but keep an open mind.
New users: Read my trading guide for my play set-ups!
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The blog has a terms of service. Be sure to read it at:
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Watch once more. Still up a lot. Fell today under 35% on modest volume.
BONT
First red day Supernovae. Finished red under 4% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 modestly likely given the middling red result of Monday. 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 larger. Mixed short signals at best on those counts, but watch it.
NCTY
Another initial red session Supernovae. See my comments above and treat similarly.
CNIT
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume near highs Monday. 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 Tuesday 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.
CMLS
Another new Supernovae. See my comments for CNIT above. Several days up, middling volume.
MNGA
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 1.63) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Monday close, or at least above 1.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.61 are ideal for aggressive entry.
PEIX
In play both ways. As a long on continuation of momentum above 5.12/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/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 5.12. The fade is more likely given the price action on Monday, but keep an open mind.
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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