Bigger Picture

Welcome to Open”s Interest for Mon Apr 28 2014

You”ve asked that I provide a greater focus on shakier “opportunities,” so I”m introducing a new format to allow it. Stocks will be assigned to the categories below. They will be repeated daily (including their shorthand instructions). I”ll list the symbol and any actionable parameters, and provide more depth in the video. Generally, stock listed here are already at an inflection point, so starting to rally on expanding volume would be that much more capable of extending higher intraday.

Each daily Open”s Interest begins with an update of the environment, let”s get started…

PHOT came, and went. Up. Trading resumed at a deep discount Friday, its high holding levels where we would have bought if that were the low. I”ve updated my parameters below. ERBB Pullback has reached the precipice, but even more concerning is the context of coming after a lot of recent hype and getting visibility on CNBC. Meanwhile, ATTBF and ENRT narrowly held their pullback limits Friday, with SPLI momentarily attracting a big following. EDXC is on the ropes, and GWPH short is hanging by one. Meanwhile, Tuesday will be two weeks since what I”m still viewing as an important low for the sector. That doesn”t necessarily mean another full-fledged rally is underway, but we”re watching.

Pullback Limit
(breakouts and bounces that have retraced 61.8%…

these situations are often make, or break)

ENRT Still testing its sub-.30 retracement limit
FITX Friday”s bounce retracing its Wed-Thu decline at .0875
MINE Volume contracting as retracement to Mar”s high reaches .031
NVLX Above .37 should retest .45, where new highs could become targeted
TTDZ No room to extend Friday”s dip if Wednesday”s breakout was valid

Bottom Fish
(basing after extended decline — breakout is the “trade”)

(breakdown unconfirmed a 2nd day — only buy strength)

EAPH Three week old range, breakout above .0385
FSPM Lowering buy signal to 3.40
MCIG More of a protracted range, gets bullish above .62

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

none

Not a Charm
(third test of a low often breaks lower)

ERBB Upleg can”t afford to delay recovering above .045
HEMP The latest bounce was pretty shallow

HPCSCup & Handle formation is hanging by a thread, above .025 should spike up
ZDPY Two new low closes last week

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

PHOT adjusting buy zone to .135-.175, targeting .33-.37, prefer no close under .175-.19
STEV above .168 targeting .25

Rocket Launch
(sudden explosive interest that gained traction)

SPLI early uptick on volume would target .11-.14

In the Weeds (technical tips)
— next time —

Enjoy!

The sequel to this morning”s “Livedesk PHOT”

“Livedesk II, Survivor City”
—showtime 11:40 ET—

Plot: The narrator summarizes the meaning of this morning”s price action in PHOT, both for that stock and others. After addressing the portfolio”s holdings, he opens the floor to as many stock requests as possible. The popcorn was a little stale.

This thread will remain live through the close.

Are you on the Activity Feed or in Livedesk? That”s where my updates are available. This is the latest, in case you missed it:
re: SPLI, ATTBF, ERBB, ENRT — If any of these holdings doesn”t justify adding today, then it will be sold. Any indication of closing positive in any of these would trigger another buy.
(EDXC and GWPH are separate setups)

PHOT. (period)

Well, not entirely. Livedesk, too. And while we”ll be focused largely on Growlife”s suspension-lift, charting its price action, we”ll also be tracking the side effects (no pun intended) on other marijuana stocks.

Did you watch the opening segment to yesterday”s Livedesk? Did you watch today”s Open”s Interest video? Price action will be too busy to reiterate that preparation for today”s session. So, I apologize in advance for skipping over questions when unfolding price action requires immediate comment.

I”m opening Livedesk just before the market”s 9:30 ET open. I”ll start commentating and annotating charts when PHOT begins trading. See you there…

Welcome to Friday”s Open”s Interest! In Friday”s video I discuss the following stocks:

Portfolio holdings
ATTBF — second day sitting at 1.04 support
EDXC — held up reasonably well
ERBB — attacking critical support at .04
ENRT — its sub-.30 average down point was session low
SPLI — narrowly avoided the chopping block by recovering .081
GWPH — shorted, will cover without delay if not falling immediately

PHOT
-issued a favorable press release after the close
Good news: SEC is done, gone, and empty-handed.
Bad news: Business is as good as ever.
-My point is that the stock has yet to suffer sector”s contraction
-Still the best of both worlds, in that dour PHOT headline might not have forced rotation back into others so much

More on PHOT
-Still looking for weakness, and I”ll sell my investment holdings above .40
-I”ll buy for a bounce from .20-.25
-Should visit .33-.37 at some point intraday, maybe close there

VAPE — probed its 4.70 bounce potential, which held through the close

Knife-catches in case of temporary negative reaction to PHOT (these are not targets in-play):
MINE — .0195 pullback for .039-.048 target.
FSPM — Retest of 2.60 parameter, which already was met and held.
TTDZ — .033 pullback for .072-.087 target (already confirmed breakout).
MDRM — .09 pullback for .29 target.
TAUG — .033 pullback for .076 target.
CBGI — no longer covering
TRTC — new low under .51 or strength above .733
BRDT — .28 pullback for .053 target.
MCIG — .375 pullback for .068 target.

Enjoy!