SPRN
New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume huge Friday. 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 Monday 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.
CVRS
See my comments for SPRN above, mostly similar here. 5+ days up on now peak volume. Potential short new Supernovae.
RT
B/O scan. I like it long back over 1.97 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 not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. Exiting below 1.90 on fails after trigger entry is possibly advisable. Early r/g buy?
WWE
Bullish Engulfing. I like this long over 21/holds. Modest volume on the rise, which is a decent 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 not too far away to use for stops. Ideally stays above 20.51 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
PME
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 4.88) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4.50. Needs to keep above the Friday close, or at least above 4.60 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.82 are ideal for aggressive entry.
AFMD
A like this long on a move above 2.55 and holds. No shorts, sell if it tanks under 2.30 after entry.
VER
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 8.86/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 8.84 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest has yet to arrive, suggesting reversal upwards is sketchy at best.
New users: Read my trading guide for my play set-ups!
Review my blog at Investimonials:
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Watch my instructional trading videos on YouTube:
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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
New Supernovae scan return. A 4 day move up which closed below the highs and above the open. Volume huge Friday. 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 Monday 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.
CVRS
See my comments for SPRN above, mostly similar here. 5+ days up on now peak volume. Potential short new Supernovae.
RT
B/O scan. I like it long back over 1.97 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 not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. Exiting below 1.90 on fails after trigger entry is possibly advisable. Early r/g buy?
WWE
Bullish Engulfing. I like this long over 21/holds. Modest volume on the rise, which is a decent 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 not too far away to use for stops. Ideally stays above 20.51 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
PME
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 4.88) and holds. Avoid shorts, keep flat on true weakness. Nice move above 4.50. Needs to keep above the Friday close, or at least above 4.60 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 4.82 are ideal for aggressive entry.
AFMD
A like this long on a move above 2.55 and holds. No shorts, sell if it tanks under 2.30 after entry.
VER
Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session close alternatively instead. Trigger is above the high of last time, here above 8.86/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 8.84 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Modest sell volume, which may mean overt buy interest has yet to arrive, suggesting reversal upwards is sketchy at best.
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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