Open’s Interest… Wed May 14 2014

Welcome to Open”s Interest for Wednesday

(Setups and parameters are below…)

The verdict is not yet in. Monday”s relatively broad array of bounces mostly didn”t follow-through Tuesday, or didn”t follow-through much. And volumes generally contracted. None of which contradicts whether a bottom is forming.

The first day of bounces largely held up, instead of being rejected. That”s not bad. Volume contracted while price fluctuated narrowly, which also isn”t bad. Expanding volume with price ranging narrowly would have been bad. If the patterns feel like they”re on pins and needles, it”s because they are. That can be good.

Current weekly universe coverage links: First half || Second half

Click here for the previous Open”s Interest issue parameters.

REMINDER: Webinar/Livedesk this Thursday. We”ll start this one at 5:30pm ET, and review the service”s usage, including the information below…

Enjoy!

Breakout (consolidations or basing that is forming
an accumulative pattern )

IGRW .048 pullback ||.062 resistance || .044 stop || .10 target
Raised pullback parameter

(- INSY short) no support || 29.50 bounce || 32 stop || 22 target
Lowered bounce limit and raised stop after Tuesday”s ranging

Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)

MWIP no pullback || .365 resistance || .315 stop || .495 target

Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)

none

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

none

Not a Charm
(third test of retested low — lower lows coming?)

(- MDBX ) 17.75 support || 20.25 bounce || 22.50 stop || 12.25 target

(- MJNA ) .18 support || .198 bounce || .22 stop || .10 target

(- VAPR ) no support || .129 bounce || .135 stop || .05 target
Didn”t confirm Monday”s break.

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

FSPM 2.33pullback || 2.65 resistance || 2.40 stop || 4.00 target
Firming throughout Tuesday buys the pattern another day

MCIG .375 pullback || .45 resistance|| .34 stop || .57 target

Bounced sharply off of .34 support Monday, BIG reversal setup

TAUG .032 pullback || .042 resistance || .029 stop || .055 target
Bought Tuesday”s early dip, raised parameters after intraday rally

TRTC .46 pullback || .52 resistance || .43 stop || .64 target
Raised parameters after Monday”s rally from .40 sup through .43 resis

Rocket Launch (sudden explosive interest that gains traction)

STEV no pullback || .17 resistance || .145 stop || .21 and .25 targets
Another late surge Tuesday moved this coverage from Bottom Fish

Monitoring
(observations of other stocks of interest)
BRDT “not a charm” may be forming.
GWPH want to cover before Wednesday”s close.
TTDZ “falling knife” candidate at .18-.20
TWMJF getting into “falling knife” territory.
VAPE fresh low testing 2.00 for “bottom-fishing.”
VPOR “not a charm” may be forming.

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.