Pre Market Game Plan by AJ – 9/18/17
1) *****$CRUS BofA Tags an Underperform and Tags a $50 PT (57.85)
Stock Gaping down -$2.15 already wow this is going to be fun, 2 ways to play this, this pops at open and short covers to $57+ area then scale in SHORT look for an all day fader on it to $52 or less, or this pulls hard at open to $52-$53 then look for a bottom bounce back up for 2-3pts then look to short it back down all day.
2) ****$GNMK BofA Tags a BUY rating with $13PT (8.92)
Stock Gaping up +.70 I love the call look for the pop at open to $10-$10.50 then look for this to begin to sell off and pullback on gap fill to $9-$9.10 or under then scale in long for an all day slow move to the upside.
3) $NVDA BofA/Merrill ups PT from $185 to $210 HUGE!!! (180.11)
Stock gaping up +$4.50 I love the call but this needs to come down some, so I would watch for a pop at open to possibly $186 at the open lean into it short gap fill some at least 3-4pts on the pullback then look for an all day slow move to the upside on it. I love the call but this needs to come down some and gap fill remember this ran huge on Friday.
4) $NBRV announce positive result from Phase 3 pneumonia Trial (6.86)
Stock gaping up +6 I like to see this pop at open on short squeeze then look for lower lows to set in and look for at least a 2point plus pullback on this, if this pulls hard or lower lows set in right away at open to $10 and under watch for a fade to it then bottom curl then grab a few long, this one will be tricky today so lets see how it pop and fades before getting in with size on it
5) $MRTX Looking for continuation on this today for 1 more day on it (11.20)
Stock gaping down -.30 I would take a few long on it at $10.90 room to add on the pullback at the open then look for a possible move towards $12+ spot on it, if this pops at open hard towards $12-$13 then watch for topping then slow all day fade on it back to lows.
6) $ICPT RBC Capital issues a $244 PT and says to BUY on the weakness 9/15 (94.88)
Stock gaping up +$1.10 Looking for continuation on this, today it already is showing $97 on it, so if this pops at open to $96-$97 then look for a gap fill short on it back to $95 and under then look to go LONG on it for a slow all day move towards the $100 mark I think today if this gets going we see the $100 on it
7) $TEVA RBC Capital Tags and lowers PT to $15 on this from $21 (18.10)
Stock gaping up +.08 I like the call so I would actually consider taking a few SHORT at $18.20-$18.25 spot look to add at the open then look for a nice slow all day fade to $17.50 or lower on it. I like this to fade all day on this call. Wait for this to set up shorts may squeeze it at open so give it room before we get those lower lows to set in and fade it
8) $BRKS Needham Tags a Neutral rating on this, I like it cause of the substantial Gap down on it (28.53)
Stock gaping down -$1.10 I would actually consider taking a few LONG here at $27.30 with room to add at open to $26.50 then look for this to gap fill at least 1-1.5pts at the open, if this pulls at open hard to $26 level or lower go LONG and play the 1-1.5pt gap fill then look to fade it all day
9) $MU Evercore raises PT on MU to $50 (34.65)
Stock gaping up +.65 I like to SHORT this gap here at $35.30 with room to add at the open $MU tends to fill their gaps so look for this to pop quick at open then look to gap fill this back to $34.75 or under then scale in long and look for a nice move to $36-$37 on it this will be a slow mover all day once this sets up but look for a higher move on this call
10) $CAT UBS Tags a BUY rating with $140PT from $116 (121.37)
Stock Gaping up +$1.50 I love the call and the gap up I like to see this pop a little more at open possibly to $123.50+ then scale in SHORT wait for a nice 1-1.25pt gap fill pullback on it then look to go LONG on this call for an all day slow move towards $124-$125 on it.
$AGIO JPMorgan raises PT from $71 to $76 (66.43) Stock NOT gaping up yet but look for this to gap up to $68+ right at the open then look for the pullback on it & gap fill back to $66.50 and under then look to go LONG for an all day slow move up, if this pulls at all to $65 then LONG