GBLX
First red day Supernovae. Finished red over 11% 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 pretty likely given the sizable 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. Sell volume was moderate, range wider. Barely plausible to modest signals at best but watch it.
YTEN
Another initial red session Supernovae. See above for general tips.
WAC
Another initial red session Supernovae. See GBLX above for general approach tips.
STGG
Supernovae, still maturing. See my previous comments, up less than 4% on low volume off a gap up. Possible fade.
LXRP
Supernovae, still maturing. See my previous comments for details. Up over 12% today.
CCAN
Watch again. More upside for later shorting. See my previous comments.
PTI
New Supernovae scan return. A 1 day move up off a huge gap up which closed below the highs and above the open. Volume large Tuesday. 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 Wednesday 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.
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:
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First red day Supernovae. Finished red over 11% 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 pretty likely given the sizable 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. Sell volume was moderate, range wider. Barely plausible to modest signals at best but watch it.
YTEN
Another initial red session Supernovae. See above for general tips.
WAC
Another initial red session Supernovae. See GBLX above for general approach tips.
STGG
Supernovae, still maturing. See my previous comments, up less than 4% on low volume off a gap up. Possible fade.
LXRP
Supernovae, still maturing. See my previous comments for details. Up over 12% today.
CCAN
Watch again. More upside for later shorting. See my previous comments.
PTI
New Supernovae scan return. A 1 day move up off a huge gap up which closed below the highs and above the open. Volume large Tuesday. 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 Wednesday 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.
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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