Open’s Interest… Wed May 21 2014

Welcome to Open”s Interest for Wednesday

(No video today… Setups and parameters are below…)
This week”s Universe || Last Open”s Interest || Non-MJ Requests

If only there were a way to predict a single stock”s one-day reaction would triple its stock. I”m speaking of FRTD”s intraday surge Monday. It visited its highest available resistance. And was then cut in half the next day.

TTDZ reversed this order. It reacted up mid-day Tuesday, after having been cut in half from my pullback limit that was tested into the weekend. That drop never triggered a buy signal, and its level is now resistance. But its action is still informative.

My Up/Down-Crash setup, which is based on a 10-11 day trending sequence, seems to be catching a little early among some MJ stocks. These upside explosions suggest there is a pent-up demand for this sector, such that the slightest spark can get a reaction.

This setup doesn”t apply to TRTC and TAUG, which dropped Tuesday, albeit to critical support and through it. In fact, the vast majority of the Universe is in downtrends. Triggering an Up/Down-Crash would finally be that rising tide to lift (almost) all ships. That”s why I held TRTC and TAUG into Tuesday”s close, and that”s why I”m preparing to cover the MDBX short.

I”ll be introducing several of the most attractive Up-Down-Crash setups Wednesday afternoon. And we”ll be reviewing this very timely concept at Thursday”s weekly “unlimited” webinar after the close (at 4:30 ET this week).

QUICK LINKS:
This week”s Universe || Last Open”s Interest || Non-MJ Requests

Enjoy!

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

none

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

TWMJF 2.45 pullback || 2.65 resistance || 2.40 stop || 3.25 target
Wednesday”s key-reversal has been corrected by a dip.

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

Plenty… Up/Down-Crash setups coming this afternoon

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 || 15.00 stop || 12.25 target
Preparing to cover, regardless of outstanding.

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

INSY 22.25 pullback || 25.80 resistance || 24.25 stop || 29.40 target
Renewed interest now that an inverted H&S has formed.

MCIG .375 pullback || .45 resistance|| .375 stop || .57 target
Met best levels Tuesday since the low, testing resistance.

TAUG .032 pullback || .042 resistance || .029 stop || .055 target
Barely clung to its stop Tuesday.

TRTC .43 pullback || .48 resistance || .39 stop || .64 target
Retesting the decline”s original .403-.43 target, will add or else sell.

Rocket Launch (sudden explosive interest that gains traction)

none

Monitoring
(observations of other stocks of interest)
VAPE Has a fresh low become avoidable? Compelling case.

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