Pre Market Game Plan by AJ – 10/26/17
1) $PTCT BofA Tags a underperform rating with $14PT (17.30)
Stock Gapping down -.60 would take a few SHORT here at $16.80 with room to pop at open then look for a potential all day bleeder on this one to $14-$15 higher this pops and squeezes better the short, Many will be trying to short this so be wary of the potential squeeze on it.
2) $MNOV announce Phase 2b Trial achieved endpoints (6.53) Thing this PR was poorly written and looks like garbage to me!
Stock Gaping up +1.20 I would love to see sheep chase this right at the open possibly thru $8-$8.50 watch for topping then look for the lower lows to set in and look to do an all day fader on this back to $6.70 and under, if this pulls hard at open which I don’t think it will but if it does then flags it must get thru $8-$8.25 for this to consider going long on a quick scalp play before it stops
3) $ABLX This is yesterday’s #IPO mentioned by Vicky (22.51)
Stock gaping down -$2 I like to see a pop at open thru $22-$23 then look for decent pullback on it (snap) then look for potential all day fader on it. If this pulls hard at open or snaps to $18-$19 area go LONG and play a nice quick 2-3pt bounce before this fades off
4) $STM Earnings Beat (20.90)
Stock gaping up +1.80 I would prefer this to pop at open a little more thru $22.75-$23 if it comes watch for topping then scale in SHORT and gap fill this back down to $21.25 or under, I like the beat but STM tends to fill their gaps first before legging up so keep an eye on that pull if it comes
5) $TAL Earnings Miss (32.37)
Stock gaping down -$5 I would prefer a small pop at open towards $29-$30 spot then lean into it short for an all day fader, if this pulls at all at the open to $26 area or under go LONG and play the 1-3pt bounce. I think this is down way too much on the numbers so I would prefer to see some short covering on it before fading off all day. Lets see how it sets up. if you take some long now (nibble)
6) $UCTT Earnings Mixed (32.69)
Stock gaping down -$3 I would prefer a pop at open to $31.50+ then scale in SHORT for a nice sell off to $29 and under I think shorts will cover this one and will want to short cover it before the fade, if this pulls hard at open to the $29 level or less definitely play the bounce on it. Should give us nice range.
7) $TSCO Earnings Miss (57.92)
Stock gaping down -$3 I would like to see a potential pop at open towards $56-$56.50+ then watch for topping then look to fade it all day, if this pulls hard at open to $53 and under look to scale in LONG and play a nice 2-3pt bounce. Watch the open should give us range once it settles down, seeing a lot of defenses and reiterates so careful if trying to short it huge imo
8) $CELG Earnings Disaster Missed on guidance HUGE! (119.56)
Stock gaping down -$20 pts I would play this careful if this pops a little at open thru $101 would chase it to $105+ before looking to short it all day, if this pulls at open to $95-$96 area scale in long as soon as it breaks $97-$98 this should cover for 4-5 pts this will be tricky but be patient with it. It will deliver us points
9) $BWLD Earnings Beat and Guidance (101.15)
Stock gaping up +$16 Points, I would LOVE to see this pop and squeeze at open thru $120-$122 then look to fade it for 5-10 pts on profit taking, if this pulls at open and dumps on profit taking to $108 and under watch for bottom curl then look to long it for a nice play to the upside
10) $ORLY Earnings Miss (202.72) Chat WIN told you all to short this into earnings and expect a miss IT DID!
Stock gaping down -$12 pts I would prefer this to pop at open to $194+ area then look for some pullback on it, if this pulls hard at open to $185 and under look to go LONG on it for 4-6 pts before fading some, either way I think this covers for some good points for us
$EYE IPO priced 15.8 Million at $22 way above the asking price of $18-$20 if this opens $25 an under I would consider taking a few long it has to open with at least 1.5-2million in shares if this opens at $25-$30 play with 1/4 size no more over $35 WALK AWAY!