Open’s Interest … Fri June 20 2014

By Rod David | June 20, 2014 - 1:37 am

Welcome to Open”s Interest for Friday

(Setups and parameters are below)
This week”s Universe || Last Open”s Interest || Non-MJ Requests

We added Tweed (TWMJF) on Thursday, and added
to Tranzbyte (ERBB). I”ll discontinue coverage of Supreme Pharmaceuticals (SPRWF) if it enters the weekend without at least making an effort. Medbox (MDBX) is making quite an effort, probing fresh lows while its volume expands into expiration, and will be shorted before the weekend. I”m still adding to GW Pharmaceutical on a pullback, but I wonder whether we”ll one — the news of a secondary barely caused a dip.

..
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
TWMJF	2.70	3.25	4.15	2.60	BREAKOUT
	Add as recent breakout began extending
GWPH	80	91	99	78	PULLBACK
	Holding up optimistically in wake of secondary news
ATTBF	.37	.46	.51	.37	BOTTOM-FISHING
	Pullback on Thu should force squeeze into the weekend
INSY	25.25	34.10	36	27.30	BOTTOM-FISHING
	RSIs diverged negatively on fresh high
SPRWF	n/a	.086	.135	.073	PULLBACK
	No distributive, but dropping coverage for lack of action
-MDBX	17.95	20.15	12.25	21.30	PULLBACK
	Reaction down from resistance has corrected
ERBB	.029	.034	.050	.032	UP/DOWN-CRASH
	Added at pullback”s .0225 objective, will sell lower close Fri

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.

Posted in Bigger Picture