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Who”s up for a Livedesk chat? See you there at 1:45pm ET…

Open”s Interests… Wed Apr 16 2014
Originally Posted on April 15, 2014, 11:42 p.m.

[NOTE: I will be on a plane Wednesday morning. My first post might not be made until noon ET.]

Is it time for a bounce? It”s past time, right? Now, we”re talking only about a bounce, not a bottom. And not necessarily sector-wide. Finally, this is from my vantage point the night before. Much can happen this morning that I won”t see (see note above).

Subscribers that read the daily missives know that recent price action has been suggesting a bottom may be nearing. In terms of time, but not in price. At least, not until now.

In the Livedesk room Tuesday (recording linked from the site”s sidebar) I showed examples of my Up/Down Crash setup, and there is also news of a marijuana CEO buying more of his own company”s stock. Assuming no bad news tomorrow open, the following represents parameters on some of our stock coverage:

[NOTE: I will be unable to trigger any trade alerts due to

I would consider buying initial strength, and holding if resistance is broken.

ATTBF above .86 has potential to 1.72

BRDT > .401, targeting .53 and .79

EDXC > .17 would target .24

ENRT > .33-.36 would target .699

ERBB above .052 would target .07

FITX If buying early, needs a close above .085

GWPH above 48.25 would target 58.50 and 68

HPCS .0333 would target new highs above .06

MCIG Close above .59 would target .80

PMCM Back above .0835 would target .0048

SPLI. Above.085 would target .31

STEV above .23 would target .49

TAUG > .054 would target .082

TRTC > .632 stp < .522

Good luck… Also, don''t forget that I will be in a place Wednesday morning.

There is a new blog post for Wednesday, with my pot stocks of choice, and their relevant resistance with targets. It did not post to this page… Don”t forget that I am traveling this morning.

Today”s Livedesk is finished. The moral of the story is that trading is about momentum, which new lows is not. If buying intraday, know first where support is, and be prepared to sell if support appears not to be holding through the close. We also discussed a setup I call “Up/Down Crash” that is appearing in several stocks, which tends to time the next leg — which could be up, or down at a more dramatic pace.

The recording can be found at the Livedesk link in the left column. Stocks we reviewed in order are: TTDZ, ENRT, ATTBF, TAUG, BRDT, SPLI, FITX, HPCS, EDXC, CANN, STEV, ERBB, GWPH, AND TRTC.

Livedesk will be open in a couple of minutes. We”ll review today”s stock action, and describe what scenarios will alert us early to recoveries potentially being underway. (Follow the link to Livedesk in the left sidebar now.)