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Pre Market Game Plan by AJ – 8/24/17

1) $GES Earnings Beat (12.48)
Stock gaping up +$2 I like to see this get squeezed right at the open possible to $14.50-$15 then look for a nice gap fill profit taking to $13 and under, if this pulls at open to the same area then look for a nice all day slow move to the upside. I like the beat but a lot of bag holders so watch for profit taking to kick in.

2) $ANF Earnings Beat (9.61)
Stock gaping up $1.70 I like this to pop a little at the open to $11.50+ area then look for topping on it then gap fill this back to $10-$10.25 and under on profit taking then go long on bottom curl, if this pulls hard at the open look for the $10 spot and under to go LONG on it.

3) $MIK Earnings Beat (19.61)
Stock gaping up +2.75 I like this to pop a little more at the open possibly to $23+ then watch for topping then gap fill this back to $20.50 and under on profit taking then bottom curl this then go long for an all day slow move to the upside.

4) $TEVA Credit Suisse Tags a Underperform with a $13PT (16.49) ouch!!!
Stock gaping down -.30 I like the call looking for this to get shredded to $15 on it, so any pop at the open imo on short covering to $16.50-$17 on a squeeze look to add into your short, you can take a few now here SHORT at $16.15 but understand to start small, everyone is going to try and nail this short today so expect a possible squeeze first before the fade off.

5) $HRL EarningsĀ miss (33.92)
Stock gaping down -$3 I would actually take some LONG here at 30.90 with room to add to $29.50 at the open on any pullback I think this pops into the call and heads back to $32+ on short covering and investors buying on weakness numbers weren’t that bad but it should top off quick so I’ll be eyeing that $32 area to short it, if this pulls super hard at open to $29 and under watch the big bounce

6) $WSM Earnings Beat (43.40) up thin
Stock gaping up +$3.27 I like this to pop a little more on short squeeze to $47.50-$48.50 at the open I have seen WSM in the past squeeze hard so be careful once we get the top short it and gap fill it for 2-2.5 pts quick to the down side then bottom curl then look to go long on it. I think this pops then fades then curls, if it pulls hard great take the $44-$44.25 area to scale in LONG on it.

7) *************$SIG HUGE Earnings Beat (51.89)
Stock gaping up +$13 I would take a few short at $63 area room to add to $65 at the open look for this to gap fill on profit taking to $57-$58 area then look to go long on bottom curl, I love the beat but I like to see this settle in on the pullback so if this begins to fall chase a few to the $57-$58 area or under it may give us $55, if this pulls at open then look to cover your short on it

8) $DLTR Earnings Beat (74.32)
Stock gaping up +$8 I would actually scale in a few short here $82.50 with room to add at the open (wide range) to $85 on it and look for this to profit take back to $77-$78 or under nice beat but look for profit takers to kick in and take this back 4-5 pts before curl and leg up, if this pushes hard at open blows thru $85 don’t panic this will come down just means a little bit more for all of us.

9) ********$AAOI Big push in Optical Names yesterday before the close (63.51)
Stock gaping up +$1.65 I like this to pop at open to $66-$67 area scale in SHORT gap fill this back to $63-$63.50 wouldn’t be surprised if it pulls even harder if it does, don’t panic $62 area would be perfect to go LONG on it. Then look for all day slow move to the upside

10) $BURL Earnings Beat (84.95)
Stock Gaping up +$7 I would take a nibble short here at $91.50 with room to add on the pop at open thru $93 I think this will gap fill some back to $86-$87 area then look to go long on it. If this pulls and sells off at the open, then definitely cover some but let it gap fill to $86-$87 should be fun.

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Notable Calls:

$ADMS PDUFA name sin play (14.39) Gaping up +$1.10 watch for quick pop at open to $16-$16.75 area then watch for topping on it then look to gap fill this back to $14.75 and under on profit taking if this pulls hard at open to $14.50 watch for bottom curl then look to go long on it should be fun.

$SJM Earnings Miss (118.85) Gaping down -$9 I like to see this pop at open to $114-$115+ on short covering then look for a nice all day fader on it back to lows, if this yanks again at open to $110 and under look for this to give us 2-4 pts on the bounce

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