RGSE
First red day Supernovae. Finished red over 13% last time, so more down side might not be in the cards. If it had fallen less more 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 likely given the large 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 modest, range bigger. Mediocre short signals at best but watch it.
ATLS
See my comments for the above stock which this roughly resembles. Fell mega tons so it might easily bounce but watch for a tad more panic selling and dump it fast on any gravy.
(No chart.)
CJESQ
Watch again, still up a lot. Recent initial red session Supernovae.
ESV
B/O scan. I like it long back over 8.25 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. Modest volume on the rise, a fair sign for new buys. Exiting below 8 on fails after trigger entry is possibly advisable. Early r/g buy?
NUGT
Bullish Engulfing. I like this long over 20.31/holds. Moderate volume on the rise, which is a tepid 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 19 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
DNR
In play both ways. As a long on continuation of momentum above 3.21/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3/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 3.19. The fade is more likely given the price action on Wednesday, but keep an open mind.
NBR
Almost 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 12.33) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10.50. Needs to keep above the Wednesday close, or at least above 10.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 11.26 are ideal for aggressive entry.
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First red day Supernovae. Finished red over 13% last time, so more down side might not be in the cards. If it had fallen less more 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 likely given the large 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 modest, range bigger. Mediocre short signals at best but watch it.
ATLS
See my comments for the above stock which this roughly resembles. Fell mega tons so it might easily bounce but watch for a tad more panic selling and dump it fast on any gravy.
(No chart.)
CJESQ
Watch again, still up a lot. Recent initial red session Supernovae.
ESV
B/O scan. I like it long back over 8.25 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. Modest volume on the rise, a fair sign for new buys. Exiting below 8 on fails after trigger entry is possibly advisable. Early r/g buy?
NUGT
Bullish Engulfing. I like this long over 20.31/holds. Moderate volume on the rise, which is a tepid 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 19 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
DNR
In play both ways. As a long on continuation of momentum above 3.21/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 3/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 3.19. The fade is more likely given the price action on Wednesday, but keep an open mind.
NBR
Almost 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 12.33) and holds. Avoid shorts, keep flat on true weakness. Nice move above 10.50. Needs to keep above the Wednesday close, or at least above 10.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 11.26 are ideal for aggressive entry.
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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