Open’s Interest… Mon July 7 2014

By Rod David | July 6, 2014 - 9:13 pm

Welcome to Open”s Interest for Monday…

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

Washington state”s recreational usage comes on-line Tuesday. It seems there is a little more scrutiny compared to Colorado. ABC”s ”
This Week” Sunday morning political show accentuated such things as pot brownie related deaths and the increase of under-age substance abuse patients. These are very real, and shouldn”t be minimized — but they won”t be the highlight of WA”s launch. Anti-pot activists would be better advised to push these concerns when not diluted by the timely stories.

There is no new coverage for Monday, but a couple of issues might be introduced intraday. Meanwhile, I”ll be watching for the theme shifts focus to recreational from pharmaceutical. Not that a repeat of Jan 2014 is at hand, but milestones are being crossed in awareness, acceptance and legitimacy.

…
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
VAPE	1.83	2.05	3.45	2.85	BOTTOM FISHING
	Back above $3 should reinstate target, or higher to 3.75
EDXC	.09	.125	.18	.075	BOTTOM FISHING
	Pattern needs to perform this week to avoid another dip
VPOR	.06	.07	.135	.07	BREAKOUT
	Ended the week at .082 resistance, can”t afford to hover
TAUG	.038	.048	.066	.036	PULLBACK
	Coiling into the weekend, beware brief fresh high that fails
GWPH	86.75	91	117	103	PULLBACK
	Symmetrical Triangle into weekend suggest corrective dip
INSY	25.25	34.10	36	31.90	PULLBACK
	Still hovering under stop, back above 32 triggers breakout
-MDBX	17.95	20.15	12.25	18.50	PULLBACK
	2-1/2 weeks ranging at lows should break at any moment
ERBB	.029 / .0225	.034	.050	.025	UP/DOWN-CRASH
	Ended the week filling a gap below, so no excuse to delay

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