CGNT
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 1.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Wednesday close, or at least above 1.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.81 are ideal for aggressive entry.
PIR
B/O scan. I like it long back over 4.81 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 4.65 on fails after trigger entry is possibly advisable. Early r/g buy?
GNCMA
Bullish Engulfing. I like this long over 13.77/holds. Modest volume on the rise, which is a fair 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 not too far away to use for stops. Ideally stays above 13.55 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
NM
Parabolic Sar scan. I like it long over 1.10 and holds. Lo volume on the rise Wednesday, a good sign for new longs. Place a stop under the close Wednesday or the 1st 30 minute low Thursday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.
GES
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 15.76/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 15.73 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.
CRNT
Red candle floater scan return. Idea is to play for more, real down side on day 2. Closed down a bit on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (2.94) 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 Wednesday means it may have suspect chances to work. A 2.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
THM
Bearish Engulfing. I like it short below the low (0.96) of Wednesday. Low volume on the drop, which is a good sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.00 on any pull ups to remain viable as a short. Avoid all big gaps/longs.
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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 1.99) and holds. Avoid shorts, keep flat on true weakness. Nice move above 1.50. Needs to keep above the Wednesday close, or at least above 1.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 1.81 are ideal for aggressive entry.
PIR
B/O scan. I like it long back over 4.81 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 4.65 on fails after trigger entry is possibly advisable. Early r/g buy?
GNCMA
Bullish Engulfing. I like this long over 13.77/holds. Modest volume on the rise, which is a fair 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 not too far away to use for stops. Ideally stays above 13.55 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
NM
Parabolic Sar scan. I like it long over 1.10 and holds. Lo volume on the rise Wednesday, a good sign for new longs. Place a stop under the close Wednesday or the 1st 30 minute low Thursday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.
GES
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 15.76/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 15.73 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.
CRNT
Red candle floater scan return. Idea is to play for more, real down side on day 2. Closed down a bit on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (2.94) 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 Wednesday means it may have suspect chances to work. A 2.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
THM
Bearish Engulfing. I like it short below the low (0.96) of Wednesday. Low volume on the drop, which is a good sign for new sellers. Keep flat on real strength aside from a typical green to red move, etc. Stops just above the high last time or the initial 30 minute one on Thursday. More conservatively a stop placed above Wednesday's close, too. The high on that day is too far away to use for risk control via stops. Ideally keeps under 1.00 on any pull ups to remain viable as a short. Avoid all big gaps/longs.
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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