Open’s Interest… Mon June 23 2014

By Rod David | June 22, 2014 - 4:51 pm

Welcome to Open”s Interest for Monday

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

New coverage is being added today for
VRCI. Be sure to watch the video for a full description. ERBB bounced into the weekend, as did ATTBF. TWMJF held up but didn”t extend. Shorted MDBX into Friday”s opening bounce. GWPH extended to fresh highs into the weekend through its 91 resistance, so a pullback may be a pipe dream. INSY bounced from the lower-end of its pullback limit to the upper-end. SPRWF coverage was dropped for lack of action.

..
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
VRCI	.054	.08	4.15	.14	FALLING KNIFE
	New coverage, would prefer buying or waiting for a quick dip
TWMJF	2.70	3.25	4.15	2.60	BREAKOUT
	Held substantially all of the week”s gains into the weekend
GWPH	80	91	99	88.50	PULLBACK
	Might have missed a pullback entry, won”t chase fresh highs
ATTBF	.37	.46	.51	.37	BOTTOM-FISHING
	Firmed into the weekend to test the week”s highs
INSY	25.25	34.10	36	27.30	PULLBACK
	Now playing as a pullback, will buy early strength, not a dip
-MDBX	17.95	20.15	12.25	19.50	PULLBACK
	Fri late surge might require covering initial strength Mon
ERBB	.029 / .0225	.034	.050	.023	UP/DOWN-CRASH
	Added at pullback”s objective, lacking volume on Fri bounce

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