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Pre Market Game Plan by AJ – 7/11/17

1)  $ARNA  Phase 2 Meet  multiple upgrades from $35 to $53PT (18.39)
Stock gapping up +$7 2 ways to play I like to see this pop at open on short squeeze possibly to $27-$29 a share before giving back some on profit taking. If this pulls at open to $22 and under would take a few long and play an all day slow move back to highs, wait for the set up on it. Should be fun

2) $FOLD   submit a new Drug Application (10.26) Really, and I’m going submit that I’m going to eat dinner tonight?
Stock gapping up +$4.50 Honestly I like to short this today, so if this pops at all at open towards $15-$16 on short squeeze I would like more of the SHORT side of this and gap fill to $11.50 and under, if this begins to sell off assume slow fader back to gap fill, again like ARNA wait for it to reveal itself then we get in

3) $RCII  Possible going private at $15 a share with Vintage (11.10)
Stock gapping up +$2 I would like to short this here at $13 area and any pop at open, I’m not convinced this is a real deal so keep an eye on it If lower lows set in after any initial pop at open look to fade this slowly back to $11.50 and under imo

4) $SNAP  Morgan Stanley Tags a $16PT (16.99)  I told you all when it IPO’d be end of summer this would be $10
Stock gapping down -.70 I would like to see this small pull then go long and gap fill it back to $16.75-$17.10 then lean into it short for an all day fader, if this pulls even a little towards $16 and under play the short covering on it back for .50 to $1 on the bounce before leaning into this short, this is a BIG call from MS imo on the short side, I think with this call this should sit at $15 and under

5) $HK   sells some assets to WB for 1.4billion (WOW) (4.46) Talk about capital infusion
Stock gapping up +$2 This will be interesting, this is a lot of capital I am surprised its still siting at $6 bucks area I would like to see if this begins to pop at open towards $7-$8 at the open then ok to chase a few, if this begins to set in on Lower lows this will be an all day fader on it

6) $CUDA  Earnings Miss (24.00) Careful  JPM says BUY the weakness increases PT to $35 from $33
Stock gapping down -$1.45 I actually would take a few long here at $22.65 with room to add on any aggressive pullback, if this pulls at open to $21 area I would look to take a few LONG and play this back thru $23+. I think this weakness gets bought up so wait for it to set up, think we have some nice range on it

7) $OCUL  submits details of manufacturing equipment (6.49) Really and I’m going to submit details what I’m cooking for lunch today
Stock gapping up +.1.40 imo any pop at open would be a fade on this on profit taking gap fill, so watch for the sheep to chase this to $8-$8.50 then look to lean into it short on lower lows to set in and fade this all day long back to $7.25 and under, keep and eye any pull at open on lower lows this will begin to fade fast imo

8) $TWLO  Baird Tags a BUY rating with $35PT (28.75)
Stock gapping up +.50 cents I would actually take some here long at $29.25 area room to add on any pullback. I think this call gets us to $30.50-$31 + area on this today. Any pull at open to me is a buying opportunity

9) $AAOI  My favorite stock, (68.64)
Stock gapping down .55 cents small pop at open then look for a nice sell off I’m thinking to $65-$66 on it today watch for bottom curl then go long, wait for the bottom to set in, if this pops at open to $70 look to short it

10) ****************$PRTA  Phase 2 complete and Jefferies Tags a BUY rating with $100PT (58.23)
Stock gapping up +$1.78 on no volume. Just simply wait for the pop at open possibly to $62+ then look to fade this and gap fill it back to at least $59-$59.50 or under if it comes and look to go long for a nice solid move to $64-$65.  Option players consider 65-70 weekly call buying

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Notable Calls:

$VOXX  Earnings Miss (8.50) I would take some LONG at the open around $6.75 area and look for a solid move to $7.50-$8 before looking to short it. Think this fills the gap first

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