CBLI
First red day Supernovae. Finished red over 27% 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 likely given the clear red result of Tuesday. 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 modest, range a bit wider. OK to mixed at best short signals but watch it.
ROYT
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 2.23) and holds. Avoid shorts, keep flat on true weakness. Nice move above 2.10. Needs to keep above the Tuesday close, or at least above 2.10 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 2.21 are ideal for aggressive entry.
TWI
B/O scan. I like it long back over 9.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
BGCP
Bullish Engulfing. I like this long over 10.88/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 10.72 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
ANW
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 open alternatively instead. Trigger is above the high of last time, here above 11.60/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 11.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is now arriving, suggesting reversal upwards awaits.
TWNK
Parabolic Sar scan. I like it long over 15.95 and holds. Modest volume on the rise Tuesday, a fair sign for new longs. Place a stop under the close Tuesday or the 1st 30 minute low Wednesday. 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.
STRM
Red candle floater scan return. Idea is to play for more, real down side on day 2. Closed unchanged on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (1.48) 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 volume on Tuesday means it may have some chances to work. A 1.40 fail may be ideal. Avoid big gaps/longs. Panic dump?
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First red day Supernovae. Finished red over 27% 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 likely given the clear red result of Tuesday. 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 modest, range a bit wider. OK to mixed at best short signals but watch it.
ROYT
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 2.23) and holds. Avoid shorts, keep flat on true weakness. Nice move above 2.10. Needs to keep above the Tuesday close, or at least above 2.10 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 2.21 are ideal for aggressive entry.
TWI
B/O scan. I like it long back over 9.99 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Tuesday or the 1st 30 minute low of Wednesday. Avoid all shorts and all big gaps. The low on Tuesday is too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Big volume on the rise, a poor sign for new buys. Exiting below 9.50 on fails after trigger entry is possibly advisable. Early r/g buy?
BGCP
Bullish Engulfing. I like this long over 10.88/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 Wednesday. More conservatively a stop placed under Tuesday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 10.72 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
ANW
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 open alternatively instead. Trigger is above the high of last time, here above 11.60/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 11.50 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is now arriving, suggesting reversal upwards awaits.
TWNK
Parabolic Sar scan. I like it long over 15.95 and holds. Modest volume on the rise Tuesday, a fair sign for new longs. Place a stop under the close Tuesday or the 1st 30 minute low Wednesday. 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.
STRM
Red candle floater scan return. Idea is to play for more, real down side on day 2. Closed unchanged on Tuesday off a gap up open that ended below the debut. Stop just above the Tuesday session high (1.48) 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 volume on Tuesday means it may have some chances to work. A 1.40 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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