GLBS
Almos a doji print. Watch once more for direction. Possible fade on weakness. Careful, it's nowhere near a lock and volume is declining steadily at least on the sell.
RCAR
First red day Supernovae. Finished red over 21.5% 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 rather likely given the strong 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 big, range wider. Poor short signals but watch it.
NVCN
Another initial red session Supernovae. See my comments for RCAR above for general approaches. Less sell volume sizable range and suspect short signals, yet watch it again to fade.
GRPN
B/O scan. I like it long back over 4 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 3.82 on fails after trigger entry is possibly advisable. Early r/g buy?
RXN
Bullish Engulfing. I like this long over 20.31/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 20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
IPI
In play both ways. As a long on continuation of momentum above 2.55/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.40/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 2.49. The fade is more likely given the price action on Wednesday, but keep an open mind.
FRBK
Red floater candle scan return. Idea is to play for more down side on day 2. Closed down a bit over 0.5% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (7.67) 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 Wednesday means it may have some chances to work. A 7.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
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Almos a doji print. Watch once more for direction. Possible fade on weakness. Careful, it's nowhere near a lock and volume is declining steadily at least on the sell.
RCAR
First red day Supernovae. Finished red over 21.5% 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 rather likely given the strong 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 big, range wider. Poor short signals but watch it.
NVCN
Another initial red session Supernovae. See my comments for RCAR above for general approaches. Less sell volume sizable range and suspect short signals, yet watch it again to fade.
GRPN
B/O scan. I like it long back over 4 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 3.82 on fails after trigger entry is possibly advisable. Early r/g buy?
RXN
Bullish Engulfing. I like this long over 20.31/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 20 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
IPI
In play both ways. As a long on continuation of momentum above 2.55/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 2.40/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 2.49. The fade is more likely given the price action on Wednesday, but keep an open mind.
FRBK
Red floater candle scan return. Idea is to play for more down side on day 2. Closed down a bit over 0.5% on Wednesday off a gap up open that ended below the debut. Stop just above the Wednesday session high (7.67) 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 Wednesday means it may have some chances to work. A 7.50 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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