RSRT
First red day Supernovae. Finished red almost 71% 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 huge red result of Friday. 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 moderate, range much wider. Poor to mixed at best short signals but watch it.
CNDT
Red candle floater scan return. Idea is to play for more down side on day 2. Closed down a bit over 1.5% on Friday off a gap down open that ended below the debut. Stop just above the Friday session high (17.12) 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 Friday means it may have some chances to work. A 17 fail may be ideal. Avoid big gaps/longs. Panic dump?
VUZI
B/O scan. I like it long back over 6.40 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Decent volume on the rise, a mediocre sign for new buys. Exiting below 6 on fails after trigger entry is possibly advisable. Early r/g buy?
CARA
Bullish Engulfing. I like this long over 15.40/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 14.55 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
EHTH
Parabolic Sar scan. I like it long over 12.55 and holds. Modest volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. 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 12.39 a bit, wait for a test/hold/perk to enter.
BWB
In play both ways. As a long on continuation of momentum above 10.20/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9.50/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 10. The fade is more likely given the price action on Friday, but keep an open mind.
MDU
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 Friday's close for risk control. Trigger is below the low of last time, here under 27/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 27.13 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.
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First red day Supernovae. Finished red almost 71% 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 huge red result of Friday. 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 moderate, range much wider. Poor to mixed at best short signals but watch it.
CNDT
Red candle floater scan return. Idea is to play for more down side on day 2. Closed down a bit over 1.5% on Friday off a gap down open that ended below the debut. Stop just above the Friday session high (17.12) 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 Friday means it may have some chances to work. A 17 fail may be ideal. Avoid big gaps/longs. Panic dump?
VUZI
B/O scan. I like it long back over 6.40 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Friday or the 1st 30 minute low of Monday. Avoid all shorts and all big gaps. The low on Friday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Decent volume on the rise, a mediocre sign for new buys. Exiting below 6 on fails after trigger entry is possibly advisable. Early r/g buy?
CARA
Bullish Engulfing. I like this long over 15.40/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 Monday. More conservatively a stop placed under Friday's close, too. The low on that day is arguably not too far away to use for stops. Ideally stays above 14.55 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
EHTH
Parabolic Sar scan. I like it long over 12.55 and holds. Modest volume on the rise Friday, a fair sign for new longs. Place a stop under the close Friday or the 1st 30 minute low Monday. 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 12.39 a bit, wait for a test/hold/perk to enter.
BWB
In play both ways. As a long on continuation of momentum above 10.20/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 9.50/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 10. The fade is more likely given the price action on Friday, but keep an open mind.
MDU
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 Friday's close for risk control. Trigger is below the low of last time, here under 27/holds. Avoid all big gaps, especially down ones. If it gaps under the trigger or 27.13 let it test/hold/fall from there 1st before entering. No longs. Stop above Friday's high at the most if more aggressive.
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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