AKAO
Though this rose, it merits yet another look for a possible fade on weakness. See my previous comments, obey tight stops on reversals.
NTFU
First red day Supernovae. Finished red over 38% 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 very likely given the big 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 decent, range wider. Poor short signals but watch it.
NM
In play both ways. As a long on continuation of momentum above 1.54/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50/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 1.54. The fade is more likely given the price action on Thursday, but keep an open mind.
ITUB
B/O scan. I like it long back over 9.73 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 not 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 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
BSMX
Bullish Engulfing. I like this long over 7.36/holds. Moderate volume on the rise, which is an unclear 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 7.21 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
PGX
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Thursday's close for risk control. Trigger is below the low of last time, here under 14.21/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 14.23 let it test/hold/fall from there 1st before entering. No longs. Stop above Thursday's high at the most if more aggressive.
CIG
Parabolic Sar scan. I like it long over 2.23 and holds. Low volume on the rise Thursday, a good sign for new longs. Place a stop under the close Thursday or the 1st 30 minute low Friday. 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.
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
Though this rose, it merits yet another look for a possible fade on weakness. See my previous comments, obey tight stops on reversals.
NTFU
First red day Supernovae. Finished red over 38% 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 very likely given the big 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 decent, range wider. Poor short signals but watch it.
NM
In play both ways. As a long on continuation of momentum above 1.54/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.50/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 1.54. The fade is more likely given the price action on Thursday, but keep an open mind.
ITUB
B/O scan. I like it long back over 9.73 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 not 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 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
BSMX
Bullish Engulfing. I like this long over 7.36/holds. Moderate volume on the rise, which is an unclear 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 Friday. More conservatively a stop placed under Thursday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 7.21 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
PGX
Hammer scan short. The tail is not too long to use the high as a stop level unless the position is very large. Can use a bit above Thursday's close for risk control. Trigger is below the low of last time, here under 14.21/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 14.23 let it test/hold/fall from there 1st before entering. No longs. Stop above Thursday's high at the most if more aggressive.
CIG
Parabolic Sar scan. I like it long over 2.23 and holds. Low volume on the rise Thursday, a good sign for new longs. Place a stop under the close Thursday or the 1st 30 minute low Friday. 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.
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
No comments:
Post a Comment