AMDA
First red day Supernovae. Finished red over 8% 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 fairly likely given the sizable 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 moderate. Unclear short signals at best on those counts, but watch it.
SDPI
Another initial red session Supernovae, see my above comments. Fell almost 13% on small volume.
GOL
Rose a bunch today but still watch for another chance to fade on weakness. A recent initial red session Supernovae.
ADTM
Rose again today but still up enough to warrant another look for a possible fade on weakness.
RIC
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 4.11) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4. Needs to keep above the Wednesday close, or at least above 3.83 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.03 are ideal for aggressive entry.
CX
B/O scan. I like it long back over 4.67 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. Moderate volume on the rise, a neutral sign for new buys. Exiting below 4.50 on fails after trigger entry is possibly advisable. Early r/g buy?
TDW
Bullish Engulfing. I like this long over 5.24/holds. Big 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 too far away to use for stops. Ideally stays above 5 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
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First red day Supernovae. Finished red over 8% 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 fairly likely given the sizable 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 moderate. Unclear short signals at best on those counts, but watch it.
SDPI
Another initial red session Supernovae, see my above comments. Fell almost 13% on small volume.
GOL
Rose a bunch today but still watch for another chance to fade on weakness. A recent initial red session Supernovae.
ADTM
Rose again today but still up enough to warrant another look for a possible fade on weakness.
RIC
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 4.11) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4. Needs to keep above the Wednesday close, or at least above 3.83 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.03 are ideal for aggressive entry.
CX
B/O scan. I like it long back over 4.67 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. Moderate volume on the rise, a neutral sign for new buys. Exiting below 4.50 on fails after trigger entry is possibly advisable. Early r/g buy?
TDW
Bullish Engulfing. I like this long over 5.24/holds. Big 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 too far away to use for stops. Ideally stays above 5 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
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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