Bigger Picture

Compilation of my coverage comments on this morning”s thread:

TAUG — I understand a “sell” signal was issued by a powerful industry analyst ;) …I have to regard this the same way I would anticipate the reaction to a buy signal”s Trade Alert, as artificial and temporary. Of course, there is no assurance it will reverse by today”s close, and avoid triggering the stop on a closing basis. Meanwhile, this is the same support that merited long-entry, so holding it through the close should be bullish.

Post-open updates:
VPOR — Gapping up to and through .111 resistance to .125, now dipping back down to .111… Closing negative today would be bearish, closing above .115 bullish.
TTDZ — Closed at the upper-end of its .018-.020 support, now gapping up out of it to .022.
IGRW — Held .048 support yesterday, now popping up at the open on news… I”m still reluctant due to its low float.
STEV — Dipping to .165 at the open, back above .18 would signal the dip was absorbed and reversed back up.
MDBX — Gapped down and extending already back to yesterday”s lows.

There is no Livedesk today. I will be sending log-in information for the 5:30pm ET webinar, where we”ll review site usage and also do any stock analysis request.

Welcome to Open”s Interest for Thursday

(No video today, click here for the morning”s Livedesk… Setups and parameters are below…)

The jury has returned. My opening comment in this space yesterday (after Tuesday”s session) was that the verdict is not yet in, regarding a bottom. On Wednesday, the jury came back to the courtroom.

Monday”s relatively broad array of bounces mostly didn”t follow-through Tuesday, or didn”t follow-through much. And volumes generally contracted. Neither factor contradicted whether a bottom is forming. In fact, I described how that action was potentially bullish for this stage of a bottoming effort.

Follow-through on Wednesday was broad-based. More gainers than losers, more up $ volume than down, and… wait for it… more volume expansion. That last factor is a biggie. Its doesn”t inoculate against a pullback — it reflects that turning the tide is more difficult.

That observation was one motivation to cover the GWPH short. Covering the MDBX short opened yesterday morning won”t be far behind if it. One of the better performers — including Monday — has been ATTBF. Its maximum bearish bounce limit was tested at Wednesday”s close, so Thursday will be very revealing.

Current weekly universe coverage links: First half || Second half

Click here for the previous Open”s Interest issue parameters.

REMINDER: Webinar/Livedesk THIS EVENING. We”ll starting at 5:30pm ET, for a how-to us this service”s features, including the information below…

Enjoy!

Breakout (consolidations or basing that is forming
an accumulative pattern )

IGRW .048 pullback ||.062 resistance || .044 stop || .10 target
The pattern is right, but I”m reluctant due to its low float.

(- INSY short) no support || 29.50 bounce || 32 stop || 22 target
Target me to within 80 cents Wednesday, will monitor for a buy

Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)

MWIP no pullback || .365 resistance || .315 stop || .495 target

Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)

none

Third-day Surge
(2-day surge to fresh highs at risk of peaking — don”t chase higher)

none

Not a Charm
(third test of retested low — lower lows coming?)

(- MDBX ) 17.75 support || 20.25 bounce || 22.50 stop || 12.25 target
Entered Wednesday, will cover quickly if not extending down Thursday

(- MJNA ) .18 support || .198 bounce || .22 stop || .10 target
Very bullish to negate this bearish pattern (by closing higher Thursday)

(- VAPR ) no support || .129 bounce || .135 stop || .05 target
Didn”t confirm Monday”s break.

Falling Knife
(trying to catch the reaction to a steep drop — ouch)

FSPM no pullback || 2.65 resistance || 2.40 stop || 4.00 target
Dropping from coverage if not in-play by noon Thursday

MCIG .375 pullback || .45 resistance|| .34 stop || .57 target

TAUG .032 pullback || .042 resistance || .029 stop || .055 target

TRTC .46 pullback || .52 resistance || .43 stop || .64 target

TTDZ no pullback || .0245 resistance || .195 stop || .035 target

Rocket Launch (sudden explosive interest that gains traction)

STEV .17 pullback || .21 resistance || .155 stop || .21 and .25 targets
Already firming when I bought Wednesday morning

Monitoring
(observations of other stocks of interest)
BRDT “not a charm” may be forming.
GWPH covered short… may re-enter long, or short.
FITX yes, that FITX. Tested (and held) a key support Wednesday
TWMJF key-reversal Wednesday, watching its retrace.
VAPE fresh low testing 2.00 for “bottom-fishing.”
VPOR all-clear above .111 and .124.

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.

A couple of observations…
TWD — “Falling Knife” candidate on today”s Open”s Interest. Gapped down to probe fresh lows at 2.54 (c), then reversed into positive territory now testing 3.07. That”s probing the prior 2-3 days” highs. The session containing a trend low is often retraced considerably, so this will be a Pullback candidate tomorrow.
MDBX — May be covered today if the close is not either under or overlapping 17.75.
REMINDER: Webinar tomorrow afternoon at 5:30pm ET.

Today”s Livedesk starts at NOON ET, when we”ll review current coverage, and other action in the sector, then address any of your stock requests that are outstanding or that require my elaboration, so please be prepared to list the stock symbol and the context or any specific question you about it that makes of interest to you today relative to other stocks. In our second hour, we”ll review run-on sentences and other grammatical tips.

Welcome to Open”s Interest for Wednesday

(Setups and parameters are below…)

The verdict is not yet in. Monday”s relatively broad array of bounces mostly didn”t follow-through Tuesday, or didn”t follow-through much. And volumes generally contracted. None of which contradicts whether a bottom is forming.

The first day of bounces largely held up, instead of being rejected. That”s not bad. Volume contracted while price fluctuated narrowly, which also isn”t bad. Expanding volume with price ranging narrowly would have been bad. If the patterns feel like they”re on pins and needles, it”s because they are. That can be good.

Current weekly universe coverage links: First half || Second half

Click here for the previous Open”s Interest issue parameters.

REMINDER: Webinar/Livedesk this Thursday. We”ll start this one at 5:30pm ET, and review the service”s usage, including the information below…

Enjoy!

Breakout (consolidations or basing that is forming
an accumulative pattern )

IGRW .048 pullback ||.062 resistance || .044 stop || .10 target
Raised pullback parameter

(- INSY short) no support || 29.50 bounce || 32 stop || 22 target
Lowered bounce limit and raised stop after Tuesday”s ranging

Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)

MWIP no pullback || .365 resistance || .315 stop || .495 target

Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)

none

Third-day Surge
(2-day surge to fresh highs at risk of peaking — don”t chase higher)

none

Not a Charm
(third test of retested low — lower lows coming?)

(- MDBX ) 17.75 support || 20.25 bounce || 22.50 stop || 12.25 target

(- MJNA ) .18 support || .198 bounce || .22 stop || .10 target

(- VAPR ) no support || .129 bounce || .135 stop || .05 target
Didn”t confirm Monday”s break.

Falling Knife
(trying to catch the reaction to a steep drop — ouch)

FSPM 2.33pullback || 2.65 resistance || 2.40 stop || 4.00 target
Firming throughout Tuesday buys the pattern another day

MCIG .375 pullback || .45 resistance|| .34 stop || .57 target

Bounced sharply off of .34 support Monday, BIG reversal setup

TAUG .032 pullback || .042 resistance || .029 stop || .055 target
Bought Tuesday”s early dip, raised parameters after intraday rally

TRTC .46 pullback || .52 resistance || .43 stop || .64 target
Raised parameters after Monday”s rally from .40 sup through .43 resis

Rocket Launch (sudden explosive interest that gains traction)

STEV no pullback || .17 resistance || .145 stop || .21 and .25 targets
Another late surge Tuesday moved this coverage from Bottom Fish

Monitoring
(observations of other stocks of interest)
BRDT “not a charm” may be forming.
GWPH want to cover before Wednesday”s close.
TTDZ “falling knife” candidate at .18-.20
TWMJF getting into “falling knife” territory.
VAPE fresh low testing 2.00 for “bottom-fishing.”
VPOR “not a charm” may be forming.

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.