Pre Market Game Plan

Pre Market Game Plan by AJ – 4/2/18

1) $ALNA ROTH Yes ROTH putting a $61 PT on this $11 stock Crazy!!! But have to take notice (11.02)
Stock gapping up +$1.41 based on this PT look for this to make a solid move towards $14-$15 possibly $17 by Weds to consider swinging this. BUT before we have fun, note the stock has been bought into so wait for the pop a pullback to $11.25 and under then begin scaling in to position

2) $CGEN entered in exclusive agreement with Medlmmune receives 10 million upfront (4.45)
Stock Gapping up +.60 I like the news, lets see if this pops at open and runs a little bit towards $6 then watch for topping on it then look for a nice fader back to fill the gap, if this small pop at open then small pull breaks $4.90 and under look for an all day fader on it.

3) $SORL Earnings Mixed stock getting hit, I think we get small rebound on this (6.51)
Stock Gapping down -$1.30 I actually like to see this move back towards $6-$6.25+ so any pullback additional at the open look for this to rebound back thru $6+ would nibble a few here at $5.30 room to $4.75 at the open if it comes then bounce it for a solid point

4) $IBN Gaping down on CBI probe (8.85)
Stock Gapping down -$60 I like to see possible small pop then big pull then be bought up on weakness, I think the news is still sinking in so don’t be surprised if we get a solid pop first at open before tanking, if this pulls hard at open look for $7.50 to be the buying spot on this stock.

5) $MNOV Phase 2 trial had some positive results (10.22)
Stock Gapping up +$3 was up +$6 earlier, would love to see just a pop and slow fader today, this Phase 2 isn’t primary endpoint, I think in the end this just gap fills back down to $11 and under so watch for any slight pull at the open and if it pops towards $15-$16 let it then watch the topping on it, I think in the end this just comes right back down

6) $ITCI Getting hit on ALKS news (21.05) Remember another stock getting hit means rebound when it has nothing to do with
Stock Gapping down -$2 I would actually try and get a few LONG at $19.50 room to add on any pullback at the open and look for this to rebound back thru $20.50-$21 m If this pulls at open and flushes to $17-$18 IMO this is just a buying opportunity

7) $ALKS receives REFUSAL letter from the FDA on there main drug ALKS 5461 (57.96)
Stock Gapping down -$10 I like to see this pop at open and short cover towards $50+ at the open then look for some selling off, ALKS out hard this morning indicating they are going to fix this quickly with the FDA (this is good) so if this pulls at open at all towards $43-$44 look for bottom curl and go long, I think when the dust settles this rebounds back to $50 spot but let it set up for us

8) $CVLT Elliot Management discloses Stake in Company (57.20)
Stock Gapping up +$5 I like to see small pop at open maybe we get thru $64-$65 would actually nibble a few short at $63.256+ spot and let it push a little, I like the news, but also think that this will pop and drop back to $58.50 and under so watch for a nice little pop at open then pullback if this breaks $62 I think we get the fader I’m looking for

9) $HUM Potential M/A with $WMT (268.83) Remember its not done yet
Stock Gapping up +$20 I think in the end today this goes back to $275 area and under, so any significant pop at the open imo I would consider shorting it with small size, and see if we cant get back, higher it pops at open imo better the short on it for points

10) $TSLA recalling 123k Model S (266.13)
Stock Gapping down -$14 be careful on this one, if this pulls hard at open to $250-$252 spot I would be buying the 5-7 point bounce on it or more, if this pop even a little at open thru $258 I think we get it back to $263+ before the fade kicks in, in the end I think we fade this more today so lets see the set up, already down $14 so we have room to have some fun

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Notable Calls:

$ACXM Wells Fargo all over this today saying the pullback is a BUYING3535 opportunity (22.71) Gaping up just a tad +.30 I like to see this pop, pullback and rebound back thru $25+ Wells Fargo putting $33PT from $36 and saying to buy the weakness today

$PTCT Sticking around $27 a share would look to pick up the weakness on it and look for a nice slow move to $29+ or more today (27.06) No gap up but think it pops and runs a little, any pullback is a buying opportunity imo