Pre Market Game Plan by AJ – 1/30/17
1) $CBAY Upgraded to BUY from Neutral HC Wainwright from $2.50 -$6PT (1.67) SWING
Stock gapping up +.44 I like the call looking or a $2.50-$3 on this call. Watch for quick pop as normal at the open followed by a nice (SHORT) gap fill pullback to $1.75 or under then scale in LONG for a nice swing hold on it
2) $CALA collaborates with INCY receives 45mil upfront (4.60)
Stock gapping up +$1.40 Nice NEWS/PR I think their are a lot of bag holders on this stock, so watch for a quick topping and lower lows to set in and possible fade back to $5 an under, I also think their could be a potential ATM coming with the volume done on the stock today, so watch for the pop, volume and possible all day fader on it.
3) $QURE FDA Breakthrough designation (5.37)
Stock gapping up .40 I like to see this pop some at open to $6-$6.30+ on it followed by a nice topping then gap fill it back on profit taking to $5.50 and under if this pulls at open to same area then look for bottom curl then scale in LONG on it.
4) $FIT Guides Lower cuts work force (7.21)
Stock gapping down -.1.40 In play today, 2 ways this squeeze at open on short covering to $6.50+ then look for topping then look to short it or this pulls hard at open to $5.50 area or lower then play the nice bounce on it for .50-.75 cents with size
5) $FGEN Meets Primary endpoints (23.30)
Stock gapping up +$1.10 I like to this pop at open to $25+ look for topping on it then look to fade this back on gap fill to $23.75 and under, if this pulls at open to same area or under watch for bottom curl then scale in LONG on it for all day slow move to the upside
6) $ARLP Earnings beat (24.35) Thin stock
Stock gapping up +$1.35 I like to see this pop at open to $26.50-$27+ area then followed by a nice gap fill pullback on profit taking to $$24.75 or under then look for bottom curl then scale in LONG if this pulls at open to same area then look to scale in LONG
7) $TPX terminates contract with Mattress Firm (63.19)
Stock gapping down -$17 2 ways to play this, It has a nice potential pull on it to $43 or under at the open we play a nice 4-6 point bounce play on it, or this begins to gap fill at open and runs to $53-$54+ on it on short covering, either way we have a nice play in on it, just need to see how it sets at open……..Be ready It has range
8) ***$DKS Goldman Tags a BUY rating with $62PT (51.31)
Stock gapping up +$1.50 I like to see small pop at open to $53+ then scale in SHORT gap fill it back down to $51.50 or under then watch for bottom curl then scale in LONG for an all day slow mover to the upside.
9) $IPGP Earnings Beat this morning (104.47) Thin Stock
Stock gapping up +$7 I like to see a quick pop at open to $115-$117+ on it then look for a nice profit taking pullback on it to $106 or under, if this pulls hard at open on profit taking to same area watch for bottom curl then scale in LONG on it
10) $MELI BofA Tags a BUY rating and ups PT from $185 to $216 (182.63)
Stock Gapping up +$1.50 2 ways this pops at open hard to $185-$187 then scale in SHORT gap fill it back -4pts on the pullback watch for bottom curl then scale in LONG on it, if this pulls at open on profit taking to $180-$181 or under scale in long.
$SNE losses 1billion on the Movie side of the biz (30.52) Gapping down -$1.50 2 ways this pulls hard at open to $28 or under play the 1pt bounce, or this pops at open to $30+ on short covering and look to fade this all day back to lows.
$RGLS Wells d/g to Market Peform and issues a $1-$2 PT from $8 (2.25) Small cap fader on this. Any pop at open on short covering look for this to fade back to $1.30 or lower if this pulls hard to same are play a .50 cent bounce on it. This will take all day to make its move up or down IMO
$EYEG Standard monthly garbage news with the standard Gap up on it. ANY pop at open will be a nice fade so you short sellers in here do your thing, (1.63) More it pops at open look for this to fade back to $1.75 or under imo