BCDA
Watch again. A recent initial red session Supernovae rose a bit and is still a lot. Fade possible.
IDXG
First red day Supernovae. Finished red under 10% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 fairly likely given the solid 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 low, range a bit wider. Unclear at best short signals but watch it.
TITXF
New Supernovae scan return. A 3 day move up which closed under the highs and above the open. Volume large Wednesday. 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 Thursday 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.
QBIO
Another new Supernovae. See my comments for the above stock which this resembles. Up 5 sessions running on increasing volume. Possible fade on weakness.
NTFU
Another new Supernovae. This one rose over 119% today. See my comments for TITXF for general approach tips on a possible fade play.
SNMX
In play both ways. As a long on continuation of momentum above 1.22/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.10/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 1.19. The fade is more likely given the price action on Wednesday, but keep an open mind.
OLLI
Bullish Engulfing. I like this long over 29.45/holds. Low volume on the rise, which is a good 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 possibly too far away to use for stops. Ideally stays above 28.45 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
New users: Read my trading guide for my play set-ups!
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Watch again. A recent initial red session Supernovae rose a bit and is still a lot. Fade possible.
IDXG
First red day Supernovae. Finished red under 10% last time, so more down side might be in the cards. If it had fallen much more than 10% then less 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 fairly likely given the solid 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 low, range a bit wider. Unclear at best short signals but watch it.
TITXF
New Supernovae scan return. A 3 day move up which closed under the highs and above the open. Volume large Wednesday. 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 Thursday 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.
QBIO
Another new Supernovae. See my comments for the above stock which this resembles. Up 5 sessions running on increasing volume. Possible fade on weakness.
NTFU
Another new Supernovae. This one rose over 119% today. See my comments for TITXF for general approach tips on a possible fade play.
SNMX
In play both ways. As a long on continuation of momentum above 1.22/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1.10/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 1.19. The fade is more likely given the price action on Wednesday, but keep an open mind.
OLLI
Bullish Engulfing. I like this long over 29.45/holds. Low volume on the rise, which is a good 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 possibly too far away to use for stops. Ideally stays above 28.45 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
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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