PYDS
First red day Supernovae. Finished red almost 7% 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 modestly likely given the decent red result of Monday. 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. Sell volume was low, range a bit wider. Reasonable to average signals at best but watch it.
EVEP
New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume huge Monday. 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 Tuesday 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.
TOPS
Another new Supernovae, see my comments above for general tips/approaches.
BBG
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (6.93) 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. Moderate volume on Monday means it may have suspect chances to work. A 6.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
RFP
I like this short on over extension on a gap and crap top fish or better a fall fail back under 8.50/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 9 and keeps going a bit. Stops above today's high at worst.
VER
B/O scan. I like it long back over 8.08 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday 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. Moderate volume on the rise, a neutral sign for new buys. Exiting below 7.92 on fails after trigger entry is advisable. Early r/g buy?
UAA
Bullish Engulfing. I like this long over 12.10/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably too far away to use for stops. Ideally stays above 11.75 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:
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The blog has a terms of service. Be sure to read it at:
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First red day Supernovae. Finished red almost 7% 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 modestly likely given the decent red result of Monday. 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. Sell volume was low, range a bit wider. Reasonable to average signals at best but watch it.
EVEP
New Supernovae scan return. A 5 day move up which closed below the highs and above the open. Volume huge Monday. 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 Tuesday 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.
TOPS
Another new Supernovae, see my comments above for general tips/approaches.
BBG
Red floater scan return. Idea is to play for more down side on day 2. Closed down over 2% on Monday off a gap up open that ended below the debut. Stop just above the Monday session high (6.93) 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. Moderate volume on Monday means it may have suspect chances to work. A 6.50 fail may be ideal. Avoid big gaps/longs. Panic dump?
RFP
I like this short on over extension on a gap and crap top fish or better a fall fail back under 8.50/holds. Avoid big gap downs. Also short on confirmed weakness cues or panic dumps at any time, possibly scalping. Keep in mind many plays like this go on longer than anticipated; it would not surprise me if it overtakes 9 and keeps going a bit. Stops above today's high at worst.
VER
B/O scan. I like it long back over 8.08 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Monday or the 1st 30 minute low of Tuesday. Avoid all shorts and all big gaps. The low on Monday 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. Moderate volume on the rise, a neutral sign for new buys. Exiting below 7.92 on fails after trigger entry is advisable. Early r/g buy?
UAA
Bullish Engulfing. I like this long over 12.10/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 Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is arguably too far away to use for stops. Ideally stays above 11.75 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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