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Pre Market Game Plan by AJ – 10/5/17

1) $INO Positive results immune response on patient Phase 1 trial (6.48)
Stock Gaping up +$.70 I like the news BUT INO tends to sell off their gains so watch for the SHORT on it more then the long side, like to see sheep chase this to $7.50 possible at the open then watch for lower lows to set in then possible all day fader on it

2) $ACAD Multiple Upgrades today BofA $46 Piper $61 JMP $50 (39.14)
Stock Gaping up +$2 I would love to see small pop at open possibly to $42 then look for profit taking gap pull back down to $39.90 area or under then scale in LONG look for an all day slow move to the upside. Should be fun once this finds bottom like GBT yesterday

3) $CDNA 4.3mil Offering at $4 (4.41)
Stock gaping up +$1 Interesting on this today, I would prefer a solid pull at the open imo like to see $4.25 believe it or not or under before going LONG I just not getting this being up so much, if this pops at all at the open towards $5.5-$6 spot I would short it

4) $ZUMZ Nice Earnings and Guidance (18.90)
Stock gaping +1.20 I like this gap would love to see a decent pop out of the gate to $20.50-$21 area then look to scale in SHORT and gap fill it back to $19.25 and under on profit taking, if this pulls hard at open to same are then look to go LONG on it for an all day slow move to the upside

5) $ABEO Maxim raised this double from $17 to $35 this morning on NEW PT (17.40)
Stock gaping up +$1.20 I like the upgrade PT almost double see the stock hitting $20 on this, BUT we need the pop and drop on it so I would be eyeing the pull at open if it comes to $17.90 and under then begin scaling in LONG on it for a nice all day slow move to the upside, if this simply pops at open quick to the $19-$20 level SHORT it and gap fill it since volume is light

6) $NBIX FDA has approved 80mg Ingrezza (62.56)
Stock gaping up +$3 SHORT SHORT SHORT $NBIX always always always gives up their gaps on upgrades and FDA approvals today will be no different so any pop at open is a short looking for a $62 pull and under then maybe go long on it.

7) $LB Issuing Light guidance Again!!!!! (41.36)
Stock gaping down -$1.75 I like to see this really get hurt today so 2 ways to play it, quick short covering pop at the open to $41+ are then look to scale in SHORT and fade it all day back to lows, if this pull at open hard to $37 area look to bounce it for 1-2 pts then short it again

8) $SHOP Look for more downside on this, this hit $99 this morning (103.30) SHOP did NOT come out and defend STUPID
Stock gaping down -$4 2 ways this pulls at open hard to $96 area then go LONG and play a bounce to $103 on it, if this pops at open look for that $104-$105 area then scale in SHORT as it tops out and look for this to fade off all day

9) $STZ Earnings Beat and Guidance (201.18)
Stock gaping up +$12 I like to see this sell off at the open if we can get gap fill to $207 area or under that would be great I would be looking for that I think we will see a lot of profit taking on it so watch for the pop and pullback on it Expect afternoon upgrades

10) $BIIB Morgan Stanley out with notes increasing PT from $311 to $375PT (314.92)
Stock Gaping up +$6 I like to see a pullback at the open to $315-$316 then scale in a few LONG look for an all day slow move to $325+ on this call, If this pops at open scale in SHORT and take it down for 3-5 pts before going long, BIIB likes to fill their gaps before legging up

Notable Calls:

$MTDR Offering 8mil shares around $26 (27.42) I would love to see a massive sell off on this to $25.75 area or under then take a few long on it as this gets filled think we get a nice 1-1.5bounce on it, its trading down -$1 but I like to see this yank at open for range

$CATB Oppenheimer Tags a $7PT from $4 but Citi Tags $3.50 Be careful just play the Chart nothing more, I like oppenheimer PT but CITI tends to have more power

 

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