MTLS
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 18.87) and holds. Avoid shorts, keep flat on true weakness. Nice move above 18. Needs to keep above the Tuesday close, or at least above 18 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 18.51 are ideal for aggressive entry.
TBLT
Bullish Engulfing. I like this long over 1.58/holds. Big volume on the rise, which is a good 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 too far away to use for stops. Ideally stays above 1.90 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
HYRE
Possible short squeeze. Long over 3.03/holds. No shorts.
UPWK
3 White Soldiers. Long over 19.69/holds. Stop under 19. No shorts.
MHI
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 10.92/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 10.87 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Decent buy volume, which could mean overt buy interest is developing, suggesting reversal upwards may soon be realized.
MAG
Parabolic Sar scan. I like it long over 7.24 and holds. Large volume on the rise Tuesday, a poor 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.
LION
In play both ways. As a long on continuation of momentum above 25.96/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 25.50 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 25.69 The fade is more likely given the price action on Tuesday, but keep an open mind.
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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 18.87) and holds. Avoid shorts, keep flat on true weakness. Nice move above 18. Needs to keep above the Tuesday close, or at least above 18 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 18.51 are ideal for aggressive entry.
TBLT
Bullish Engulfing. I like this long over 1.58/holds. Big volume on the rise, which is a good 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 too far away to use for stops. Ideally stays above 1.90 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.
HYRE
Possible short squeeze. Long over 3.03/holds. No shorts.
UPWK
3 White Soldiers. Long over 19.69/holds. Stop under 19. No shorts.
MHI
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 10.92/holds. Avoid all big gaps, especially up ones. If it gaps over the trigger or 10.87 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Decent buy volume, which could mean overt buy interest is developing, suggesting reversal upwards may soon be realized.
MAG
Parabolic Sar scan. I like it long over 7.24 and holds. Large volume on the rise Tuesday, a poor 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.
LION
In play both ways. As a long on continuation of momentum above 25.96/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 25.50 and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 25.69 The fade is more likely given the price action on Tuesday, but keep an open mind.
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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