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Pre Market Game Plan by AJ – 4/21/17

1)  $OCN  They came out with statement so this should have a play in it for us today (2.49)
Stock gapping up +.50 I like to see this pop at open to $3.25-$3.40+ area then look for a modest pullback on it then slow move to the upside, however I do feel that after any initial pop if it comes look for this to fade back if lower lows set in this could end up back at $2.50 or lower, will need to see the initial pop first

2) $ASPS I like this one to head back to $30-$32 today (25.44)
Stock gapping up +$2.00 I would consider taking a few here at $27.40 area add on any major pull at open then look for bottom curl and go long, Need to be patient on this and have range but I like this for a nice rebound back to $30-$31 do NOT be surprised if this pops hard at open on short covering

3) $CDTX  Raymond James puts a Strong Buy on this stock with $14PT (6.30) SWING IDEA
Stock gapping up NONE no MM’s on this at the moment so watch for a quick pop at open to $7+ if it comes followed by a slow fader back to $6.30 and under then consider taking a few LONG for a 2-3 day hold looking for this to move to $8-$8.50 on this call

4) $XBIT  receives negative vote from EMA regarding MMA for its antibody (17.02)
Stock gapping down -$6.50 I actually think taking some here at $11.30 with room to $10 at open I’ll be eye a 2-3pt bounce at the open. This is risky but I feel that XBIT will come out and respond on their negative news and issue a statement creating some movement to the upside. Would only consider playing 1/4 size to get a feel for it, if this pulls hard at open around $10 that would be the area for me for sure to begin in on

5) $MXIM  Earnings miss (45.45)
Stock gapping down -$2  2 ways to attack this, this pops at open on some gap fill short covering to $44.50-$45 then scale in SHORT for an all day fader to the downside, if this pulls hard at open to $42 and under wait for bottom curl then grab a few long and play the 1-2point bounce. I like this to actually fade for the day but will need to see how it opens higher it pops better the short

6) $AAOI  will replace Adeptus in the S&P Small Cap 600 (44.31)
Stock gapping up +$1.20 I like to see this do a small pop at open to $45.50-$46.25 area then look for a nice sell off on profit taking back down to $44.60 area and under then consider going long on it for an all day slow move to the upside. If this sells off at open on profit taking overnight look to scale in LONG at $44.60 area or under

7) $EFII Earnings Miss and guidance (50.85)
Stock gapping down -$5.50 with this volume no MM’s even on it, so this should pop at open to $48.50-$49.50 area at the open if it does look for this to scale in SHORT for an all day fader on it. If this pulls hard at open to $42-$43 play a nice 2-4point bounce on it

8) $ATRA  enters into clinical collaboration with MRK (18.90)
Stock gapping up +$6.10 I like the news but this should see off at the open its trading very thin I like to see it touch $19.50 and under then scale in LONG for an all day slow move the upside. IF this pulls hard at open and gap fills to $19.20 and under I would scale in LONG I would prefer the pop and all day fader on it. IMO

9) ***$PFPT  Earnings Beat and guidance (71.00) wowza!!!
Stock gapping up +10 I like to see this sell off at open on some profit taling would consider shorting around $80 area looking for some serious profit taking to $75 and under, if this pulls at open hard let it work itself out to $73-$74 on it if it comes then go long, this will be very interesting how this pops and fades at open if it does, this caught a lot of shorts off guard after hours

10) $AUPH  positive Data BUT think this just pops at fades on the news today (7.00)
Stock gapping UP +.50 I like to see any pop at open on short squeeze if it comes to $7.75-$8.25 then scale in short for a nice fader all day on it, think this is just sell the data and comes back to $7.10 and under, if this dumps at open to same area then let it get to $7-$7.10 then consider going long

Notable Calls:

$RJETQ  Court approves them coming out of BK (.13) I would consider a buy and hold on this and would be surprise to see .20-,25 cents on this, this is under the radar this morning NO one is watching this, but this is an airline that went BK and is now emerging, wouldn’t be surprised we see some buying up so watch the open order I’m going to be watching for big blocks on this one

$MAT  Earnings Miss (25.21) gapping down -$1.50 I like to see small pop at open to $24.50-$24.75 on short covering then go short for all day fader on it, if this pulls at open to $22.50 and under play a nice 1 point solid bounce on it

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