NAVB
First red day Supernovae. Finished red over 5.5% 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 moderately likely given the decent 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 short signals, but watch it.
HK
See my previous comments, hardly stellar but watch for gravy short, which is questionable given the circumstances. Obey tight stops and take early profits. New price range selloff today which made my Supernovae scan by a technicality, really.
IDI
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (5.92) 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. Modest sell volume on Tuesday means it may have good chances to work. A 5.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
APRI
B/O scan. I like it long back over 0.38 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. Modest volume on the rise, a decent sign for new buys. Exiting below 0.36 on fails after trigger entry is possibly advisable. Early r/g buy?
BPI
Bullish Engulfing. I like this long over 7.15/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 not too far away to use for stops. Ideally stays above 7 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
MTNB
In play both ways. As a long on continuation of momentum above 1.25/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.20/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 1.22. The fade is more likely given the price action on Tuesday, but keep an open mind.
ANW
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 9.70/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 9.64 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is just developing, suggesting reversal upwards is not here yet.
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First red day Supernovae. Finished red over 5.5% 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 moderately likely given the decent 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 short signals, but watch it.
HK
See my previous comments, hardly stellar but watch for gravy short, which is questionable given the circumstances. Obey tight stops and take early profits. New price range selloff today which made my Supernovae scan by a technicality, really.
IDI
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (5.92) 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. Modest sell volume on Tuesday means it may have good chances to work. A 5.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
APRI
B/O scan. I like it long back over 0.38 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. Modest volume on the rise, a decent sign for new buys. Exiting below 0.36 on fails after trigger entry is possibly advisable. Early r/g buy?
BPI
Bullish Engulfing. I like this long over 7.15/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 not too far away to use for stops. Ideally stays above 7 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
MTNB
In play both ways. As a long on continuation of momentum above 1.25/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.20/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 1.22. The fade is more likely given the price action on Tuesday, but keep an open mind.
ANW
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 9.70/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 9.64 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is just developing, suggesting reversal upwards is not here yet.
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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