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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

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Notable Calls:

$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!

 

$MYOS   why is this even up on an offering this is stupid. (1.49)  any pop at open towards $2.40-$2.60 after sheep chase this crap look to get in their an fade it, if this pulls at open and lower lows set in fade it. Let sheep chase this then watch for topping then nail it short
$NOW  earnings mixed (124.62) gaping down -$5 pts any pull at open to me is a buying opportunity would even take some here long at $119 area room to add at open and expect a nice gap fill back to $122-$125 on it imo
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