MTBC
Watch once more to fade despite the drop, still up a lot a recent Supernovae red day chart.
OHGI
See my previous comments, rose again and a possible short of this maturing Supernovae.
PRGE
First red day Supernovae. Finished red over 34% 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 big 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. Buy volume was modest, range larger. Mixed tepid at best short signals but watch it.
EYES
B/O scan. I like it long back over 1.34 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 1.29 on fails after trigger entry is possibly advisable. Early r/g buy?
ALLY
Bullish Engulfing. I like this long over 19.97/holds. Decent volume on the rise, which is a suspect 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 19.76 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
BKCC
Parabolic Sar scan. I like it long over 7.40 and holds. Low volume on the rise Tuesday, a good 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.
OPK
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 7.66/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 7.65 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is still arriving, suggesting reversal upwards may be delayed.
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Watch once more to fade despite the drop, still up a lot a recent Supernovae red day chart.
OHGI
See my previous comments, rose again and a possible short of this maturing Supernovae.
PRGE
First red day Supernovae. Finished red over 34% 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 big 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. Buy volume was modest, range larger. Mixed tepid at best short signals but watch it.
EYES
B/O scan. I like it long back over 1.34 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. Moderate volume on the rise, a tepid sign for new buys. Exiting below 1.29 on fails after trigger entry is possibly advisable. Early r/g buy?
ALLY
Bullish Engulfing. I like this long over 19.97/holds. Decent volume on the rise, which is a suspect 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 19.76 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
BKCC
Parabolic Sar scan. I like it long over 7.40 and holds. Low volume on the rise Tuesday, a good 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.
OPK
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 7.66/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 7.65 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Low buy volume, which may mean overt buy interest is still arriving, suggesting reversal upwards may be delayed.
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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