Open’s Interest… Tue May 6 2014

Welcome to Open”s Interest for Tuesday

Volume is still a sore subject in the marijuana sector. It”s not exactly a hot topic elsewhere in the market. GWPH will report earnings Wednesday, presumably from the UK, so before the open. The sessions before earnings can trade misleadingly, as the market anticipates good or bad news. GWPH is hovering at its highs in anticipation of a a good report. That”s not a given, since Biotechs generally had a bad quarter. But GWPH has an edge, so although I want to participate in a healthy correction that the pattern needs, I won”t short it unless it closes under relevant support

Pullback Limit

(breakouts and bounces that have retraced 61.8%…

these situations are often make, or break)

VPOR .114 pullback ||.13 resistance || .109 stop || .195/.25 target

Bottom Fish

(basing after extended decline — not really a “trade”)

(breakdown unconfirmed a 2nd day — only buy strength)

ATTBF .95 pullback || 1.07 resistance || .91 stop || 1.38 and 1.68 targets
moved from Rocket Launch

IGRW .036 pullback || .055 resistance || .029 stop || .08 target
spiked up at Monday”s close

SING no pullback || .025 resistance || .016 stop || .045 target

Third-day Surge

(2-day surge to fresh highs at risk of peaking — don”t chase higher)

I wish!

Not a Charm

(third test of retested low — lower lows coming?)

(-
ZDPY) no pullback || 4.65 resistance || 6.05 stop || 2.25 target

Falling Knife

(trying to catch the reaction to a steep drop — ouch)

We”ll pull these from the “Monitoring” section below.

Rocket Launch
(sudden explosive interest that gains traction)

STEV .158 pullback || .185 resistance || .145 stop || .21 and .25 targets
adjusted parameters higher

Monitoring
(observations of other stocks of interest)

EDXC, ENRT these are becoming “Not A Charm” candidates.

TAUG .054 resistance || .048 stop (can”t buy weakness).

TRTC knife-catch candidate at or under .44 (really want to like this).

MCIG under .455 would target .36-.40 (unless .55 recovers soon).