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Pre Market Game Plan by AJ – 10/30/17

 

1) $ADMS Point 72 Takes 1.1million stake + Evercor ups the PT to $85 WOW!!!!! (19.51) SWING IDEA
Stock Gapping up +3.50 I love the call, I like the stake in the company from Cowan, However stock is up quite a bit I would prefer a pop and sell off back to $21 and under we get that then I would begin scaling in LONG this is up way too much BUT the stock has HUGE room to fly towards $25+ at the open so let it push watch for the sell of (SHORT it) then bottom curl then WE LONG IT!!!

2) $M Citi Tags a Sell Rating with $16PT from $21 This is toast!!!! JCP type Toast!!!! (19.69)
Stock Gaping down -.49 would take some SHORT here and add on ANY pop at open look for a slow all dAY move towards $18 or lower this to me is a “Blindfold Trade” just have to be patient with it!

3) $AMD Morgan Stanley out hard with a sell rating and $8PT (11.84)
Stock gaping down -.50 I like the call and I would love to see continuous downtrend. I would ONLY NIBBLE here at $11.40 with room to add at the open, AMD tends to go back up and fill at least half their gap down before leaning into it SHORT for all day slow fader

4) $GM Goldman Sachs Tags a sell rating with $32 PT (44.64) BIG CALL!!!!!
Stock gaping down -$1.80 This is tough being down 2 points I need this to pop some and short cover before leaning into this short. I would prefer $43.50+ at the open then begin to scale in SHORT look for this to bleed out for a few days to the downside and eventually hit $38 and under. If this drops like a hammer at the open go long and play the 2-3 pt bounce then go SHORT on it.

5) $ENDP Surprise Earnings Report (5.88)
Stock gaping up +$1.12 I like to see a quick pop at open on short squeeze prefer to see this hit $7.50-$8 at the open then look for a nice SHORT and gap fill this back to $6.25 and under, reading the report I really don’t see why this is up so much so I will play off the quick squeeze then look to short it.

6) ****$UAA BofA Comes out tough and drops a HUGE sell rating with $12 PT from $21 OUCH!!! (16.04) BLINDFOLD TRADE
Stock gaping down -.38 would take some SHORT here at $15.62 add on ANY pop at open this may even squeeze past $16+ at the open cause I think many will chase this but once this settles this will bleed out all day long back to $14.50 and under. Should be a lot of fun today fading this slowly

7) $OSTK Gaping up on No news (42.90)
Stock gaping up +1.20 I would lean into this SHORT at $44.20 with room to add on any POP at open then look for this to gap fill quick to $43 and under then look for a possible all day slow move to $45+ I like this stock both short and long just wait for this to set up after the pullback on it.

8) $CTB Earnings Miss (35.75)
Stock gaping down -$2 l like to see a nice sell off at the open and let it flush to $31-$32 then look for a quick 1-3pt short covering bounce on it then look to go SHORT on it and fade it back to lows, If this pops at all at the open let it gap fill back to $34.50+ then scale in SHORT after it tops off look for an all day bleeder, I would prefer for this to pull nice at the open if we get it then bounce it

9) $MRK SuntTrust downgrades the stock and issues NEW PT from $73 to $54 (58.24) OUCH!!!
Stock gaping down -$2 I would prefer a pop at open for some short covering towards $57-$57.50 or more then lean into it short for an all day 2 day bleeder on it looking for this to touch $54 and under over then next few days or even today This will b slow so be patient

10) $BMY SunTrust Tags a BUY rating and ups the PT to $75 from $55 (59.94)
Stock gaping up +$1.24 I love the call I would prefer for this to pop at open some more then sell off quickly back to $60.25 area or under then look to scale in LONG for an all days slow move to the upside. This will slow move towards $64-$65 imo either today or by tomorrow on this call.

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Notable Calls:

$VNDA Oppenheimer Tags a BUY rating and ups the PT to $26 from $21 (14.70) I like the call and the range so watch for a pop at open thru $15.25-$16 area then short it and gap fill it back to $15 and under then look to go LONG on it. This you can swing back to $16-$17 on it should be fun.

 

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