1) $SAGE Misses the Phase 3 Primary endpoint (149.21) The Death/Funeral of a stock
Stock Gaping down -$93 do NOT be a BUYER unless you see $60+ push at the open then you can chase a few to $65-$70 top it off then all day fader, If this pulls hard at the open watch the $40-$45 area scale in a few long and short cover bounce, in the end IMO this should bleed out today and we will see tons of downgrades from all over so be ready. NEWBIES DO NOT PLAY THIS TODAY, YOUR NOT READY FOR THIS ONE YET!!!!
2) $HOME Earnings Miss downside guidance (8.55)
Stock Gaping down -$3.70 would be a buyer on this at $5 spot watch shorts to cover and push to $6-$6.50 top it off then grind out, if this snaps at open to $4 and under bottom curl it and get 1-1.5 points on the short covering bounce. This should be fun and shorts should come in and cover
3) $SIG Earnings Beat slight guidance above not impressed (16.65)
Stock Gaping up +1.30 let this push a little more at the open would love to see $19-$20+ top it off then slow gap fill back down to $17-$17.50 and under, if this pulls and gap fills at the open to $16.90 and under go long and bottom curl it buyers will come in and scoop this up if it gap fills
4) $AUPH announce Positive Phase 3 (8.39)
Stock Gaping up +9 DO NOT BE A BUYER ON THIS unless you get at $18 push with volume at the open then quick chase to $20+ top it off then grind slow all day back down 2-3 points, If this snaps at open I’m looking for a gap fill back down to $10.50-$12.50 on Bag holder city cashing out. Let this show you at the open, watch those lower lows on it then we nail it.
5) $ETSY HUGE Downgrade from Morgan Stanley to $38 from $52 OUCH!!! (42.14)
Stock Gaping down -$1.50 This will be a nice play for us for an ALLLLLLLLLLLLLLLLL Day fader. If you take short now at $40.50 give it room to pop at the open towards $41.75+ area add into your position, top it off then look for an all day bleeder on it to $39 and under then be done with it
6) $ACAD presents top line Phase 3 Harmony Trial (44.28)
Stock Gaping up +$9 DO NOT NE A BUYER on this unless you see $55 pop at the open then you can chase it for a few more points, top it off then slow gap fill back down 4-5 points, if this snaps $51 at the open should come down to $46-$47 then bottom curl it then slow all day move back to pre-market highs. IMO this should NOT fully gap fill so don’t expect it
7) $VRNT Earnings Beat plus repurchase 300 Million (47.81) Needham Raise JP Morgan lowers
Stock Gaping up +7 I would nibble small short at $54.50 area room to $56 at the open once this snaps $54 this should come back down to $49-$50 then bottom curl it for a 2-3 point bounce, I think the Earnings were not good and they are trying to push it up with the 300 million repurchase which I think is trying to overshadow the so/so report
8) *****$ESTC Earnings Mixed (78.20) Both Piper and RBC and Barclay’s say BUY On weakness
Stock Gaping down -12 once this pops at the open towards $67 go long and rip it through $71-$73 then grind out, if this pulls at open watch the $60-$62 bottom curl and go long, if you wish to nibble now, here at $66 keep size small until we get the push then we rock it.
9) $FIVE Earnings Mixed in line guidance (118.06)
Stock Gaping up +$7 I would take small short at $125.50 room to $127 pop at the open then look for this to sell off back down to $120-$121 and under, if this snaps at the open to same area watch for bottom curl then go long for slow all day move to the upside. NOT impressed with the Earnings report
10) $DG Earnings Beat (153.55)
Stock Gaping up +9 IMO this should simply gap fill back down to $154 and under then bottom curl it then slow all day move back to highs, watch the conference call coming up in an hour, I think the stock will pop on that, if you take some now here at $155 give it room to add if it pulls then bottom curl it then look to go long and bounce back to $158-$160
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Notable Calls:
$FFIV BofA downgrade to $140 from $185 (143.58) Gaping down -$7 do not long unless stock pops at open to $139 area then look for small push to $141+ top it all and all day fader, if this pulls hard at the open to $132-$134 go long short cover the bounce for 4-5 points then top it off and all day fader. More it pulls at the open better the range for us on short covering
$WORK Earnings MIXED in line guidance (21.66) Gaping up +1.60 imo any pop at the open is towards $23 again to me would be nothing but a short idea looking for gap fill back down $21.75-$21.85 and under then bottom curl then slow all day move to the upside Higher it pops better the range to the downside
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