Open’s Interest… Fri May 2 2014

Welcome to Open”s Interest for Friday.
Is it starting to feel more like a bottom? We”ll see. At least the sector”s contraction seems to have lost its momentum. Recent “good news” from companies has been allowed to effect price for multiple sessions, instead of for just a few minutes. And stocks are doubling and tripling, left and right. Let”s just focus on whether this is a bottom.

Portfolio holding ENRT has been firming, but I still would like to see this bounce attack .30, where I”ll consider holding or exiting. EDXC is three days into testing critical support at .145. ATTBF surged from .88 support to test 1.04 resistance (previously support), closing above it thanks to a last-minute rally, which qualifies as a Rocket Launch candidate.

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

IGRW no pullback || .037 resistance || .031 stop || .055 and .072 target
VPOR .103 pullback ||.24 resistance || .095 stop || .195 target

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

SING no pullback || .027 resistance || .016 stop || .042 target

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?)

(-ZDPY) no pullback || 4.65 resistance || 6.05 stop || 2.25 target

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

none

Rocket Launch
(sudden explosive interest that gains traction)

ATTBF .95 pullback || 1.07 resistance || .88 stop || 1.38 and 1.68 targets
STEV .145 pullback || .165 resistance || .135 stop || .21 and .25 targets

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