Open’s Interest… Fri June 6 2014

By Rod David | June 5, 2014 - 10:37 pm

Welcome to Open”s Interest for Friday

(Setups and parameters are below, video will be posted later…)
This week”s Universe || Last Open”s Interest || Non-MJ Requests

Our alternative to Livedesk on Thursday while I”m on the road without bandwidth was not entirely satisfying. I”m looking forward to Friday”s! As of this writing, the video of Thursday”s discussion has not been received. I”ll be doing a video regardless, and adding it to the site.

Meanwhile, we had some action in the portfolio and other coverage on Thursday. I pulled out of three stocks, and two others extended recent gains. The monthly Employment Situation report is announced before Friday”s open, which the broader market”s rally on Thursday seems very optimistic about. So optimistic, that it may be difficult to fulfill their anticipation..

.
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
FITX	n/a	.07	.113	.056	PULLBACK
	Short attention span for this — NOT buying weakness
GBLX	n/a	2.18	4.75	1.85	PULLBACK
	Pullback”s extended depth and duration is disappointing
SPRWF	.07	.105	.15	.08	PULLBACK
	Last chance to snap back up from pullback test
BRDT	.32	.445	.58	.43	BREAKOUT
	Getting through.48 should all but assure .58
TRTC	.44	.65	.91	.67	BOTTOM FISH
	Thu”s extra push created room to absorb sell-off
MCIG	.375	.45	.57	.51	BOTTOM FISH
	Sold Thu, but back above .51 could resume the rally
TAUG	.032	.042	.055	.029	PULLBACK LIMIT
	Sold Thu, would consider re-buying above .033
TWMJF	2.75	3.05	3.75	2.65	PULLBACK LIMIT
	Raised pullback limit Thu, needs to rally into weekend
VAPE	1.85	3.25	4.65	2.05	FALLING KNIFE
	Flatlining, needs a jolt, raised support — its test must recover to close above the stop on expanding volume
-MDBX	17.95	20.15	12.25	21.30	PULLBACK
	Bounce has tested resistance, and held
-GWPH	67.15	69.50	54.00	71.00	PULLBACK
	Held test of significant resistance all week
ENRT	.13	.20	.33	.17	UP/DOWN-CRASH
	Sold Thu as corrective dip hadn”t reacted up
ERBB	.029	.034	.050	.032	UP/DOWN-CRASH
	Extended higher Thu, adjusted stop upward
NVLX	.225	.290	.450	.245	FALLING KNIFE
	Removing coverage Fri while awaiting .225 new lows

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