Open’s Interest… Tue July 1 2014

By Rod David | June 30, 2014 - 8:33 pm

Welcome to Open”s Interest for Tuesday

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

TAUG far exceeded its target Monday, extending to its next higher target at the session”s high. The target may be different, but the consequence is the same: coverage will be suspended if the target isn”t exceeded at Tuesday”s close, as it would have Monday… TWMJF coverage will be suspended if the week doesn”t begin with price action is being suspended for starting the week without making an impression. ts buyers are making a stand… TAUG coverage will also be suspended if the target isn”t exceeded Monday… ERBB spiked up at the close on size, so probing Monday”s low on Tuesday would be very disappointing.

Yesterday”s video discusses several stocks trying to bottom. Of those, VAPE clearly led the day, +25%. The afternoon formed an ascending triangle likely to break higher Tuesday… EDXC also gained, but not on impressive volume. ENRT closed lower on expanding volume, so it”s off the list. But we”re going to give VPOR one extra day to perform.

…
Enjoy!

SYMBOL	suppt	resist	target	stop	SETUP
VAPE	1.83	2.05	3.45	1.78	BOTTOM FISHING
	Ended Monday in an accumulative Ascending Triangle
EDXC	.09	.125	.18	.075	BOTTOM FISHING
	Percolating, starting to show renewed buying interest
VPOR	.06	.07	.135	.055	BREAKOUT
	Light volume inside day allows the pattern extra time
TAUG	.020	.0265	.057	.048	FALLING KNIFE
	Held its target again Fri, burden of proof on buyers
GWPH	86.75	91	117	103	PULLBACK
	Expanding volume would confirm valid rally attempt Mon
INSY	25.25	34.10	36	31.90	PULLBACK
	Firmed to relative highs Fri, valid break should explode up
-MDBX	17.95	20.15	12.25	18.50	PULLBACK
	Ranged narrowly into the weekend
ERBB	.029 / .0225	.034	.050	.025	UP/DOWN-CRASH
	Barely held support into the weekend, already under stop

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