Bigger Picture
The broader market has taken
The broader market has taken quite an interesting turn. A probe of fresh highs has reversed down under overnight lows — overnight lows that were already a pullback which tried to recover.
I”m concerned with the speculative premium coming out of this market, and how that might deflate the MJ sector”s stocks. If I were to sell one, then I would likely sell them all — not as a pronouncement of the sector, but of the broader market”s influence described above.
I”ll update shortly…
Let”s do an early Livedesk
Let”s do an early Livedesk this morning at 10:45 ET. Skip that third cup of coffee, or whatever that is you”re… sipping. Post your chart analysis requests to this thread, then meet me at the following link:
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/
Open’s Interest… Tue June 24 2014
Welcome to Open”s Interest for Tuesday
(Setups and parameters are below)
This week”s Universe || Last Open”s Interest || Non-MJ Requests
I”m adding coverage of Tauriga (TAUG) after it was pushed higher Monday. Its late push failed, but that formed a predictable pattern that should recover after extending its dip. Gapping up above Monday”s high would also be credible for extending higher intraday.
..
Enjoy!
| SYMBOL | suppt | resist | target | stop | SETUP |
| TAUG |
.022 |
.0265 |
.036 |
.021 |
FALLING KNIFE |
| New coverage, huge volume reversal, still needs confirm | |||||
| VRCI |
.054 |
.08 |
4.15 |
.14 |
FALLING KNIFE |
| New coverage, would prefer buying or waiting for a quick dip | |||||
| TWMJF |
2.70 |
3.25 |
4.15 |
2.60 |
BREAKOUT |
| Held substantially all of the week”s gains into the weekend | |||||
| GWPH |
80 |
91 |
99 |
90.35 |
PULLBACK |
| Might have missed a pullback entry, won”t chase fresh highs | |||||
| ATTBF |
.37 |
.46 |
.51 |
.37 |
BOTTOM-FISHING |
| Chipping away at .42 now needs to break through it | |||||
| INSY |
25.25 |
34.10 |
36 |
27.30 |
PULLBACK |
| Now playing as a pullback, will buy early strength, not a dip | |||||
| -MDBX | 17.95 | 20.15 |
12.25 |
19.50 | PULLBACK |
| Still suspicious of the bigger buy orders, but staying short | |||||
| ERBB |
.029 / .0225 |
.034 | .050 | .025 | UP/DOWN-CRASH |
| Began the week surging, raised stop | |||||
Breakout
(consolidations or basing that is forming an accumulative pattern )
Up/Down-Crash
(extended trending with only 1-2 countertrend closes, ready to snap back)
Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)
Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)
Third-day Surge
(2-day surge to fresh highs at risk of peaking — don”t chase higher)
Not a Charm
(third test of retested low, triangle — lower lows coming?)
Falling Knife
(trying to catch the reaction to a steep drop — ouch)
Rocket Launch
(sudden explosive interest that gains traction)
Monitoring
(observations of other stocks of interest)
Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.
A very promising open to
A very promising open to the new week. Let”s start our Livedesk at the 11:00 ET. Please post your stock analysis requests to this thread. I”ll review them live, right after touring the MJ sector price action. Then click here by 11:00 —
http://marketfy.com/product/marijuana-stock-technical-trade-alerts/livedesk/
Open’s Interest… Mon June 23 2014
Welcome to Open”s Interest for Monday
(Setups and parameters are below)
This week”s Universe || Last Open”s Interest || Non-MJ Requests
New coverage is being added today for
VRCI. Be sure to watch the video for a full description. ERBB bounced into the weekend, as did ATTBF. TWMJF held up but didn”t extend. Shorted MDBX into Friday”s opening bounce. GWPH extended to fresh highs into the weekend through its 91 resistance, so a pullback may be a pipe dream. INSY bounced from the lower-end of its pullback limit to the upper-end. SPRWF coverage was dropped for lack of action.
..
Enjoy!
| SYMBOL | suppt | resist | target | stop | SETUP |
| VRCI |
.054 |
.08 |
4.15 |
.14 |
FALLING KNIFE |
| New coverage, would prefer buying or waiting for a quick dip | |||||
| TWMJF |
2.70 |
3.25 |
4.15 |
2.60 |
BREAKOUT |
| Held substantially all of the week”s gains into the weekend | |||||
| GWPH |
80 |
91 |
99 |
88.50 |
PULLBACK |
| Might have missed a pullback entry, won”t chase fresh highs | |||||
| ATTBF |
.37 |
.46 |
.51 |
.37 |
BOTTOM-FISHING |
| Firmed into the weekend to test the week”s highs | |||||
| INSY |
25.25 |
34.10 |
36 |
27.30 |
PULLBACK |
| Now playing as a pullback, will buy early strength, not a dip | |||||
| -MDBX | 17.95 | 20.15 |
12.25 |
19.50 | PULLBACK |
| Fri late surge might require covering initial strength Mon | |||||
| ERBB |
.029 / .0225 |
.034 | .050 | .023 | UP/DOWN-CRASH |
| Added at pullback”s objective, lacking volume on Fri bounce | |||||
Breakout
(consolidations or basing that is forming an accumulative pattern )
Up/Down-Crash
(extended trending with only 1-2 countertrend closes, ready to snap back)
Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)
Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)
Third-day Surge
(2-day surge to fresh highs at risk of peaking — don”t chase higher)
Not a Charm
(third test of retested low, triangle — lower lows coming?)
Falling Knife
(trying to catch the reaction to a steep drop — ouch)
Rocket Launch
(sudden explosive interest that gains traction)
Monitoring
(observations of other stocks of interest)
Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.