DRWI
First red day Supernovae. Finished red over 21% 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 pretty likely given the large red result of Thursday. 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 low, range wider. Poorly mixed short signals at best on those counts, but watch it.
PVHO
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume moderate Thursday. 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 Friday 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.
SKYS
Showing up again on my Supernovae scan, this rose today and is still up a lot. Might yield a bit of gravy downside. See my comments for PVHO above as a rough guide.
CYDY
In play both ways. As a long on continuation of momentum above 1.39/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.30/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 1.39. The fade is more likely given the price action on Thursday, but keep an open mind.
VVUS
Red floater candle scan return. Idea is to play for more down side on day 2. Closed down a bit over 1.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (1.83) 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. Decent sell volume on Thursday means it may have suspect chances to work. A 1.70 fail may be ideal. Avoid big gaps/longs. Panic dump?
TTPH
B/O scan. I like it long back over 6.13 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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 5.75 on fails after trigger entry is possibly advisable. Early r/g buy?
CWEI
I like this long on a break out over 13.25/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. Decent volume gap down debut sizable rise on Thursday. Requires constant monitoring. Stops just under 12 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 21% 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 pretty likely given the large red result of Thursday. 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 low, range wider. Poorly mixed short signals at best on those counts, but watch it.
PVHO
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume moderate Thursday. 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 Friday 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.
SKYS
Showing up again on my Supernovae scan, this rose today and is still up a lot. Might yield a bit of gravy downside. See my comments for PVHO above as a rough guide.
CYDY
In play both ways. As a long on continuation of momentum above 1.39/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.30/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 1.39. The fade is more likely given the price action on Thursday, but keep an open mind.
VVUS
Red floater candle scan return. Idea is to play for more down side on day 2. Closed down a bit over 1.5% on Thursday off a gap up open that ended below the debut. Stop just above the Thursday session high (1.83) 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. Decent sell volume on Thursday means it may have suspect chances to work. A 1.70 fail may be ideal. Avoid big gaps/longs. Panic dump?
TTPH
B/O scan. I like it long back over 6.13 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Thursday or the 1st 30 minute low of Friday. Avoid all shorts and all big gaps. The low on Thursday 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 5.75 on fails after trigger entry is possibly advisable. Early r/g buy?
CWEI
I like this long on a break out over 13.25/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. Decent volume gap down debut sizable rise on Thursday. Requires constant monitoring. Stops just under 12 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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