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Pre Market Game Plan by AJ – 2/24/17

1)  $IPCI   receives FDA approval for ANDA (2.15)
Stock gapping up +.50 I like this to pop at open get chased to $3.50-$4+ then look for a nice topping then decent pullback on it to $2.40 or under, I will watch this on volume if it pops and flags, volume has been good morning if it pops and flags this may run today “One to Watch”

2) $CEMP   positive results on Phase 3 (3.15)
Stock gapping up +1.35  2 ways to play this this pops at open flags and runs a bit on Phase 3 approval to $5-$6 a share If this pops and tops off I and lower lows set in look for this to fade off rest of day to $3.50 I expect with volume today that this would possibly do an ATM offering either after the bell or early next week so be wary of this.

3) $SMCI   $AAPL discontinues biz with SMCI (27.40)
Stock gapping down -$2 2 ways to play this, this pops at open to $26.50+ on Short covering then look for this to sell off all day to $23-$24 or under, this stock will get hurt on this news today, or this pulls hard at open to same area and we play a slow 1-$1.5 point bounce on it.

4) $RH   Earnings Beat (25.19)
Stock gapping up +$3.50 Nice beat, look for this to pop a little more on short squeeze to possibly $29.50-$30+ then look for this to sell off on profit taking to $26 and under, if this pulls hard at open on profit taking to the same area go LONG on it for a nice all day move to the upside

5) $AAOI  Earnings Beat (37.47)
Stock gapping up +5.50  I like the beat up too much would consider shorting $43.50 area with room to add at open to $45 then look for this to sell off on profit taking to $38.50 area or under, if this pulls hard at open chase a few to at least $40- and under, this should give back some today so watch for the pop and pull on it…stock has range

6) $ACIA   Guides Lower (63.43)
Stock gapping down -$11 this is down a lot for this stock, so with that said, 2 ways to play. If this pops even a little at open chase it and watch a nice 4-5 point short covering squeeze before it tops off if this pulls at all at open I would be eyeing the $48-$49 area to bounce it for 4-5pts. Wait for this to show you and when we see it we will nail it,  Stock has nice range today

7)  $OLED  Earnings Beat (67.45)
Stock gapping up +$8 I would take this $74.50 SHORT with room to add at open to $76 then look to gap fill this back 3-5pts on it, if this pulls hard at open look $68.50 and under as a nice entry then watch the bottom curve the nice slow move back to highs

8) $SPLK  Earnings Miss (64.90)
Stock gapping down -$4.60  2 ways this pulls hard at open to $58 and under then play a nice 2-4point bounce on it, or this pops at open to $62.50 on some gap fill short covering then scale in SHORT for an all day fader on it.

9) $NVDA  Getting more gutted today (100.49)
Stock gapping down -$4 I think this will short cover at the open some to $99-$100 then look to reload short on it, if this pulls harder at open to $94 area then scale in LONG for a nice all day slow move to the upside around $98 to close

10) $INCY  to join S&P 500 (121.95)
Stock Gapping up +$6.05  would take short $128.50 with room to add to 130 this will fade back 3-5 points today based on today’s market conditions. I like this set up and any pop at open consider it a SLOW fade  You must use wide range on this stock otherwise do NOT play

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Notable Calls:

$DGI   Earnings Miss (34.05) Gapping down -$3pts   2 ways this pulls at open to $30 and under then go LONG and play a nice 2 point bounce on it, or this pops at open on short covering to $33.25+ area then look for this to scale in SHORT for an all day fader

$HLF   Earnings Miss (59.40) Gapping down -2 points 2 ways to play this, this pulls at open to $55 and under then play a nice 1-2pt bounce on it then re-short it, or this pops at open to $56.50-$57 then watch for topping then re-short it, Careful on HLF they tend to buy back this stock on huge pullback and misses

$LPTH  (2.27) Gapping up +.23   Keep an eye on LPTH may get a pop today its gaping .23 cents with thin volume may just pop to $3 fast at open or more then fade off for the short sellers in here

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