DDAY
First red day Supernovae. Finished red over 18.5% 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 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 medium, range larger. Suspicious short signals at best on those counts, but watch it.
GKOS
Bullish Engulfing. I like this long over 16.89/holds. Moderate volume on the rise, which is a tepid 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 arguably not too far away to use for stops. Ideally stays above 16.25 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
SGMS
In play both ways. As a long on continuation of momentum above 8.60/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 8.50/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 8.60. The fade is more likely given the price action on Friday, but keep an open mind.
JCP
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up a bit over 14.5% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (9.71) 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 buy volume on Friday means it may have suspect chances to work. A 9.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
MRO
B/O scan. I like it long back over 8.20 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. Decent volume on the rise, a suspect sign for new buys. Exiting below 8 on fails after trigger entry is possibly advisable. Early r/g buy?
HUN
I like this long on a break out over 10.56/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. Modest volume gap up debut sizable rise on Friday. Requires constant monitoring. Stops just under 10.25 is one risk managing approach, since a fail back under indicates failure on the buy.
CVGI
Parabolic Sar scan. I like it long over 2.46 and holds. Modest volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
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The blog has a terms of service. Be sure to read it at:
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First red day Supernovae. Finished red over 18.5% 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 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 medium, range larger. Suspicious short signals at best on those counts, but watch it.
GKOS
Bullish Engulfing. I like this long over 16.89/holds. Moderate volume on the rise, which is a tepid 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 arguably not too far away to use for stops. Ideally stays above 16.25 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
SGMS
In play both ways. As a long on continuation of momentum above 8.60/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 8.50/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 8.60. The fade is more likely given the price action on Friday, but keep an open mind.
JCP
Red floater scan return. Idea is to play for more, real down side on day 2. Closed up a bit over 14.5% on Friday off a gap up open that ended below the debut. Stop just above the Friday session high (9.71) 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 buy volume on Friday means it may have suspect chances to work. A 9.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
MRO
B/O scan. I like it long back over 8.20 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. Decent volume on the rise, a suspect sign for new buys. Exiting below 8 on fails after trigger entry is possibly advisable. Early r/g buy?
HUN
I like this long on a break out over 10.56/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. Modest volume gap up debut sizable rise on Friday. Requires constant monitoring. Stops just under 10.25 is one risk managing approach, since a fail back under indicates failure on the buy.
CVGI
Parabolic Sar scan. I like it long over 2.46 and holds. Modest volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.
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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