AMMJ
Watch again and see my previous comments. Still up a lot possible fade on weakness. Rose again Tuesday, nearing recent highs.
HADV
Also again near recent highs and a possible fade on weakness.
CNAB
Ditto here. Up quite a bit still but on modest slightly advancing volume. Possible short.
VNRBP
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume large Tuesday. 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 Wednesday 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.
LWAY
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 17.38) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Tuesday close, or at least above 16.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 17.19 are ideal for aggressive entry.
MGT
In play both ways. As a long on continuation of momentum above 2.57/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50/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 2.50. The fade is more likely given the price action on Tuesday, but keep an open mind.
ACBFF
Red floater scan return. Idea is to play for more down side on day 2. Closed unchanged on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (1.89) 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. Moderate sell volume on Tuesday means it may have unclear chances to work. A 1.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
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Watch again and see my previous comments. Still up a lot possible fade on weakness. Rose again Tuesday, nearing recent highs.
HADV
Also again near recent highs and a possible fade on weakness.
CNAB
Ditto here. Up quite a bit still but on modest slightly advancing volume. Possible short.
VNRBP
New Supernovae scan return. A 5 day move up which closed under the highs and above the open. Volume large Tuesday. 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 Wednesday 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.
LWAY
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 17.38) and holds. Avoid shorts, keep flat on true weakness. Nice move above 16. Needs to keep above the Tuesday close, or at least above 16.50 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 17.19 are ideal for aggressive entry.
MGT
In play both ways. As a long on continuation of momentum above 2.57/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.50/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 2.50. The fade is more likely given the price action on Tuesday, but keep an open mind.
ACBFF
Red floater scan return. Idea is to play for more down side on day 2. Closed unchanged on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (1.89) 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. Moderate sell volume on Tuesday means it may have unclear chances to work. A 1.80 fail may be ideal. Avoid big gaps/longs. Panic dump?
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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