LEI
First red day Supernovae. Finished red over 11% 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 fairly likely given the large red result of Tuesday. 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 moderate. Mixed bag short signals at best on those counts, but watch it.
PVHO
Still up a lot.Watch once more for a fade on weakness.
DMPI
A possible short on a 1.50 fail or at 1.40. Many up sessions in a row. No longs. Keep tight stops, short squeeze bait.
EXK
Red floater scan return. Idea is to play for more down side on day 2. Closed down a bit under 2% on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (3.16) 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 Tuesday means it may have suspect chances to work. A 3 fail may be ideal. Avoid big gaps/longs. Panic dump?
RIG
B/O scan. I like it long back over 9.73 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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 tepid sign for new buys. Exiting below 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
GRPN
Bullish Engulfing. I like this long over 4.40/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 4.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
CHK
I like this long on a break out over 6.15/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. Big volume gap up debut huge rise on Tuesday. Requires constant monitoring. Stops just under 5.75 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 11% 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 fairly likely given the large red result of Tuesday. 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 moderate. Mixed bag short signals at best on those counts, but watch it.
PVHO
Still up a lot.Watch once more for a fade on weakness.
DMPI
A possible short on a 1.50 fail or at 1.40. Many up sessions in a row. No longs. Keep tight stops, short squeeze bait.
EXK
Red floater scan return. Idea is to play for more down side on day 2. Closed down a bit under 2% on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (3.16) 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 Tuesday means it may have suspect chances to work. A 3 fail may be ideal. Avoid big gaps/longs. Panic dump?
RIG
B/O scan. I like it long back over 9.73 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday 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 tepid sign for new buys. Exiting below 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
GRPN
Bullish Engulfing. I like this long over 4.40/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is probably too far away to use for stops. Ideally stays above 4.20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
CHK
I like this long on a break out over 6.15/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. Big volume gap up debut huge rise on Tuesday. Requires constant monitoring. Stops just under 5.75 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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