1) $TTM Upgraded at Nomura from Neutral to BUY (10.61) TOP SHORT IDEA TO GAP FILL
Stock gapping up 1.50 would nibble small short at $12 room to $13 at the open watch for topping then slow all day fader gap fill to $11 and under, if this yanks and drops to $11 and under bottom curl it then slow all day move to the upside, closer this gap fills better the range on it
2) $AMKR Earnings Beat in line guidance (11.08)
Stock gapping up +$2.70 like to see a little more push to $13.50-$14 at the open then watch for topping then look to gap fill this back down to $11.50 and under, if this yanks and dumps at the open cover whatever shorts you got and look for bottom curl then slow all day move to the upside, I don’t think this will gap fill all the way but at least get close
3) $SANM Earnings Miss (31.79)
Stock gapping down -$4.5 like to see small pop gap fill towards $29.50-$30+ at the open top it off then all day fader on it, if this pulls at the open watch the $25-$26 area for bottom curl then nice 1-2 points on the short cover then slow move to the downside on it
4) $GRUB Forget about it….they blew it this quarter everything WRONG (58.39)
Stock gapping down -$20 OK do not long this unless we get a solid pop at the open through $40+ then you can chase it to $45+ top it off then all day fader, if this yanks at the open watch the $35 level for bottom curl and shorts to come in and cover this. This should be fun traders more it pulls better the range for us for shorts to cover. THIS WILL NOT GAP FILL SO DON’T EXPECT THAT”!!!
5) $SHOO Earnings Beat (35.86)
Stock gapping up +$4 Imo this should gap fill right back to at least $36-$36.50 and under so if you take small now at $39 let it pop to $41 if it comes watch for topping, if you want to wait for the short side of it, let it snap $38 at the open then it will pull down to the $36 area bottom curl it then slow move back to pre-market highs
6) $OFIX Earnings Miss downside guidance (49.02) NO MM’s on it yet
Stock gapping down -$7 I would like to see this snap a little more at the open towards $40 and under then look for shorts to come in and squeeze it back up for 3-4 points top it off then slow all day fader if this at all pops at the open towards $44-$46+ top it off and bleed this on the short side all day long back to lows
7) $TXRH Earnings Beat (50.17) Most of the language this morning was IN-LINE
Stock gapping up +$7 imo let this pop at the open a little more towards $58-$60 top it off then look for nice sell off for 4-5 points to the downside, if you take now short here at $56.80 area you must give it a little room for shorts to get squeezed once we break $55 and under this should fill a few more points, this will NOT gap fill all the way imo but at least give us some room for a nice bottom curl on it once it bottoms out
8) $VRNS Earnings Beat (62.72) NO MM’s on it yet
Stock gapping up +$10 I would like to see small pop at the open then look for nice gap fill back down to $65 and under more it pops at the open better the range for the gap fill, with no MM’s on it and its gapping thin this should pop and fill most of the gap higher it goes better the range, let it show right at the open
9) $BYND Earnings Beat but lock up still looming (105.41)
Stock Gapping down -$22 I would nibble small here at $84 level room to $80 looking for a short covering bounce to $90+ then top it off then slow all day grinder lower, more it pulls at the open better the range for nice short covering bounce let this show you start small once it gets through $86 on the pop will run quick, **I will play this myself
10) $SHOP Earnings Miss (324.93) When $AMZN missed this stock got hurt, now you know why
Stock gapping down -$30 Nice buys at $295 Janni this morning, at this point it gave you 15 points off the $295 if it comes again at the open below $295 watch for shorts to come in again and buy the weakness this was a great play into the conference calls so most of the easy money already done, if this pops at the open towards $315 look for $320 on it then top it off then slow fader, at this point most of you missed the $295 buy so now you have to wait for it to set up for a pop at open then fade. If it pulls again we nail the upside
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Notable Calls:
$NXPI Earnings Beat (108.65) gapping up +$6 NOTE: $NXPI likes to fill there gaps on Earnings, so nibble small short $114 room to $116 at the open look for the stock to snapp $113 at the open then look for gap fill to $109-$110 then bottom curl then slow move to the upside
$MRTX announce 1st clinical Phase 1/2 trial positive results (81.47) gapping up +$14 I would start small short here at the $95 level room to pop at the open towards $97 watch for topping once this breaks $94 and under we should get 4-6 more points to the downside, should be fun let it show you, higher the pop better the range for the downside
