Pre Market Game Plan

Pre Market Game Plan by AJ – 4/16/18

1) $ZYNE HC WainWright out with a $23PT BUY Rating (10.17) LONG a few this morning at $10.15 will add on dips
Stock gapping none, think this PT gets this to $10.50-$11 or more, will see how it pops and sets up with some volume at the open

2) $DVAX Earnings Mixed (19.75) $DVAX always fills the gap
Stock Gapping up +$1.50 look for pop at open towards $22-$22.50 scale in short and gap fill it back to $20 and under. Should be fun, they never hold there gains

3) $ACIA down on ZTE news since 30% of the revenue in 2017 came from ZTE (40.03)
Stock Gapping down -$9 I think small pop at open towards $35 followed by an all day slow bleeder back to lows on it, if this pulls hard at open towards $25 and under go long and play a quick 3-5 point bounce on it.

4) $TPX Loop out with a huge Downgrade on this with a $36PT (44.00)
Stock Gapping down -$1.50 I would take a few short here at $42.50 room to $43+ pop at the open then look for an all day slow fader back down to $40 and under. I dont think this goes more then $40 on the pull, but we will see, more it does better the short for us

5) $LITE Exclusive: U.S. bans American companies from selling to China’s ZTE (64.30)
Stock Gapping down -$5 I like to see more downside on this stock today, so any pop on short covering at the open imo would be a short, so watch for it, if this yanks hard at the open towards $54 and under watch for a bottom curl on it then look to go long on it. for a quick 3-4 point bounce on it.

6) $CLVS 200+ Million Offering and Warrants (60.64)
Stock Gapping down -$2 would take a few short here at $58 room to add at the open then look for this to be an all day sell off towards $55 and under imo

7) $ALKS announce FDA has accepted for review HUGE NEWS!!! (42.53) IMO I think this gets back to $55-$58 where it was before
Stock Gapping up +$6 I would consider a small nibble LONG here at $48 area room to add on ANY pull at the open if this pops at all towards $50 I think in the end this just moves right back towards $55+ and fills the gap when it came down. I like this,

8) $BPMC reports proof of concept data also allows competitive door to email open hence the pop on $LOXO (98.98)
Stock Gapping down -$8 I would consider a nibble here long at $90.70 room to add on the open towards $88 area then look for this to bounce back some back to $94-$96 or more. I think this sell off is a little over done so watch for any decent pop and move back towards filling some of the gap

9) $LOXO Morgan Stanley out today with a increase PT to $170 from $120 (122.99)
Stock Gapping up +$8 I like the call, would actually take some short here at $131 with room to add at the open towards $133-$135 then look for some gap fill pullback on it to $125 and under then look for an all day slow move to the upside

10) $ALGT 60mins Hard Hit piece (151.05)
Stock Gapping down -$7 I would be consider taking a few short here at $144 give it room at the open towards $148 use wide spreads I think in the end this comes down another 5-10% today before bottom is in. Both Stifel and MS think more downside on this. I’m thinking we see $130-$135 on this today

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Notable Calls:

$*******ULTA Guggenheim out with notes with a $260PT (220.88) Gaping up +$5 I would actually consider taking a few LONG here at $225 area give it room to add at the open towards $222 and look for an all day slow move to the upside on it. I love the call would consider buying 235-240 weekly Calls on it for a SWING

$CRSP Gapping up Presentation today per Diego in Chat (51.77) I would consider taking some short here at $53.60 with room to add at the open then look for a little pop more towards $54-$54.50 then gap fill it back to $52.50 and under then bottom curl then slow move back to highs

 

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