CBDS
New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume large 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.
IGC
Another new Supernovae. See my comments for CBDS above, mostly applicable here.
CANV
Another new Supernovae. See my comments for CBDS above, mostly applicable here.
GBIM
First red day Supernovae. Finished red over 9% 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 very likely given the huge 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 medium, range medium. Mediocre short signals at best on those counts, but watch it.
VCEL
Another initial red session Supernovae. See my comments for GBIM above, mostly applicable here. Fell less with a big gap down.
TTII
Another up day but up so much another possible fade might be in the cards. Near high of the recent run up again.
HNGR
In play both ways. As a long on continuation of momentum above 6.52/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6.30/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 6.50. 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:
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The blog has a terms of service. Be sure to read it at:
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New Supernovae scan return. A 1 day move up which closed under the highs and above the open. Volume large 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.
IGC
Another new Supernovae. See my comments for CBDS above, mostly applicable here.
CANV
Another new Supernovae. See my comments for CBDS above, mostly applicable here.
GBIM
First red day Supernovae. Finished red over 9% 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 very likely given the huge 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 medium, range medium. Mediocre short signals at best on those counts, but watch it.
VCEL
Another initial red session Supernovae. See my comments for GBIM above, mostly applicable here. Fell less with a big gap down.
TTII
Another up day but up so much another possible fade might be in the cards. Near high of the recent run up again.
HNGR
In play both ways. As a long on continuation of momentum above 6.52/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 6.30/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 6.50. 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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