Pre Market Game Plan by AJ – 8/15/17
1) $HMNY Confirms to acquire majority stake if movie sub tech MoviePass (2.79)
Stock gaping up +$2 I would love to squeeze this a tad more at the open possibly thru $5 a share would be nice, but in the end I think this just fades all the way back to $3.30 and under, To me this play is for shorts its moved up way to much on this news. So watch for the pop and lower lows to set in.
2) $PLAB Earnings Miss (9.85)
Stock gaping down -$1.45 I would prefer this to pop at open for short covering to $9.25+ then watch for topping then let this sell off the rest of the day, if this pulls under $8 definitely watch that bottom curl then go Long and play the short covering move for +$1 or more
3) $EXTR Earnings Play (9.32) Gaping up this volume
Stock gaping up +$1.10 I would like to see a small pop at open followed by a nice gap fill pull at open if it comes to $9.50-$9.75 would look to go LONG on it for an all day slow move to the upside, if this pops at open thru $11 I would short it and gap fill it. Should be fun
4) $DKS Earnings Miss (34.91) I told you all yesterday why they would miss and look today Just beautiful
Stock gaping down -$6 To me I would just let this sell off into the call and call begin in an hour look to go long let CEO push the stock up and save his company by a few shares then after call done look for a nice sell off, look for down grades on this stock today. This is down a lot so be cautious you might see a decent 2pt spike at the open then it will fade off.
5) $COH Earnings Miss (47.92) I told you all yesterday that this would miss and why and it did
Stock gaping down -$4.75 I actually would nibble a few LONG here off the bottom at $43.25 area I think this has room to $44.50-$45.50 before coming back down and fading all day. So if this pops at all at open let it push then watch for it to fade all day long like a M or JWN for all day fade
6) $SYF Berkshire Hathaway, Senator Investments and Omega Increased positions in company (29.64)
Stock gaping up +$2 This is great for this company, I actually would take some at $31 and add on dips if they come, I realize its up quite a bit but this is substantial confidence in the company so ANY weakness on this or any pull at open I would go long, with market being up today this could run quite a bit.
7) $YY Secondary Offering hearing 5mil (80.58)
Stock gaping down -$6 I would actually take a few LONG here at $74.50 room to $73 to add I think this will be bought back up and taken back thru $77-$78 a share today, more it pulls if it does 5mil is pretty quick to fill so look for more a gap fill pop then anything.
8) $AAOI Gaping up on upcoming Raymond James conference (68.92)
Stock gaping up +$3.75 I would take some short (nibble) at $72.50 area room to $74 at the open and look for a nice short gap fill pull at the open think this will pull down -$2-$2.5 pts then look for bottom curl then go long, More it pops better the gap fill, once the pull comes nail that bottom reversal and look to go LONG (let this set up for you traders)
9) $AAP Earnings Miss (109.32) HUGE overnight win call on Earnings Nailed IT!
Stock gaping down -$17 I would actually nibble a few LONG here at $92 area give it room to $90 and see if we get a small 4-6pt bounce on short covering if this pulls hard at open under $90 go LONG shorts WILL come in an cover. I’m hoping they do it at the beginning if this pops at all thru $100+ look for topping then short it
10) $ORLY Getting his on AAP (198.44)
Stock Gaping down -$12 I would buy on weakness on this since ORLY isn’t the one that reported I would actually take a few LONG at $187 room to $185 or under at the open and look for a nice gap fill back 5-6 pts to the upside, more this pull remember $175 is most likely the bottom on this, if you wish to wait for this to settle all good.