Open’s Interest… Thu June 5 2014

By Rod David | June 5, 2014 - 1:27 am

Welcome to Open”s Interest for Thursday

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

Livedesk is back! We”ll try to start at 10:45 ET — I”ll send an alert, and stock requests can be added to its thread. We”ll start with the MJ sector review, and there are a lot of compelling setups.

Thank you for the patience while I am traveling and unable to give the market uninterrupted attention. Open”s Interest will be available the prior evening beginning on Tuesday. As late as today”s post is, we”re skipping a video since it”s so close to the Livedesk.

.
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
FITX	n/a	n/a	n/a	n/a	PULLBACK
	RSI Monitoring, some concerns, but pullback to 6 is complete
GBLX	2.05	2.45	4.75	2.13	PULLBACK
	RSI diverging positively into Wed”s close
SPRWF	.07	.105	.15	.08	PULLBACK
	Pullback struggling to hold .08
BRDT	.32	.445	.58	.375	BREAKOUT
	Fresh recovery high to resistance, but is all good news out?
TRTC	.44	.65	.91	.67	BOTTOM FISH
	Closed above .69 Wed, and above .735 to signal and confirm the rally”s momentum remains intact
MCIG	.375	.45	.57	.51	BOTTOM FISH
	Wed action ultimately maintained Tue surge
TAUG	.032	.042	.055	.029	PULLBACK LIMIT
	Supported by a thread
TWMJF	2.65	3.05	3.75	2.52	PULLBACK LIMIT
	Wed was spent testing Tue”s fresh low, without extending
VAPE	1.65	3.25	4.65	1.92	FALLING KNIFE
	Was late-day surge from negative territory a warning shot?
-MDBX	17.95	20.15	12.25	21.30	PULLBACK
	Preparing to bounce, looking to short
-GWPH	67.15	69.50	54.00	71.00	PULLBACK
	Closed under support Tue, no reason to delay drop
AGTK	.225	.268	.380	.215	UP/DOWN-CRASH
	A couple of intraday surges failed to gain traction
ENRT	.13	.20	.33	.17	UP/DOWN-CRASH
	Still holding the corrective dip”s low, but not reacting up
ERBB	.029	.034	.050	.025	UP/DOWN-CRASH
	Bought in portfolio Wed
NVLX	.225	.290	.450	.245	FALLING KNIFE
	Started rolling over Wed, suggesting fresh lows coming

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