Open’s Interest… Thu Jun 19 2014

By Rod David | June 19, 2014 - 8:16 am

Welcome to Open”s Interest for Thursday

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

Wednesday was a day of pullbacks. My pullback limits were largely tested and so far held. But none have yet reacted up enough to prove its pullback has ended. ERBB is the only pullback I am considering to buy, it being such a substantial retracement of a substantial rally leg. Other pullbacks are within developing uplegs, offering a chance for initiating new positions.

REMINDER: THURSDAY”S LIVEDESK UNLIMITED IS POST-CLOSE AT 4:30pm ET. I”LL ANSWER YOUR CHART ANALYSIS REQUESTS IN THIS POST”S THREAD.

..
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
ATTBF	.37	.46	.51	.37	BOTTOM-FISHING
	Added intraday after RSIs diverged positively on fresh low
INSY	25.25	34.10	36	27.30	BOTTOM-FISHING
	Met 29.20 target and extended to close higher
SPRWF	n/a	.086	.135	.073	PULLBACK
	Running out of time to prove it absorbed the pullback
-MDBX	17.95	20.15	12.25	21.30	PULLBACK
	Bounced to resistance, ready to sell weakness
ERBB	.029	.034	.050	.032	UP/DOWN-CRASH
	Will buy fresh low testing .0225

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