Pre Market Game Plan

Pre Market Game Plan by AJ – 5/31/18

1) $VKTX Gapping up on $MDGL success (4.97)
Stock Gapping up +$2.20 I like to fade this back down to $5.50 and under today, BUT before that happens lets see if we can break out above $7 and let it run, if that happens watch for topping then we fade it. Remember this is up on someone else’s data

2) $VTVT License agreement with Newsoara Bio (1.66)
Stock Gapping up +.90 look for small pop at the open possibly to $2.75-$3+ then watch for lower lows to set in and then look for possible all day gap fill fader back down to $1.75 and under

3) $CLSD Fail (14.54) Phase 2
Stock Gapping down -$3 I would prefer small pop at the open followed by a nice all day fader to $10 and below, if this pulls at open right away to $10 and below then look to go long on it and play the bounce

4) $CIEN Earnings Mixed (24.06) NOTE CIEN looks always to get bought up on weakness (24.06)
Stock Gapping down -$3 I would look for the stock to run on the conference call back to $24+ then once call is done stock should fade from there, if this pulls at all at the open back down to $21-$22 area watch again for bottom curl on it and then look to go long on it

5) $GLNG Horrific miss and overall just horrible numbers (34.68)
Stock Gapping down -$7 this morning got a nice pop off the $28 area if it pulls again to that and lower look to bounce this back to $30-31 Many thought this would be hence the run up on it last few days so look for shorts to cover at the open if they do look for $32-$32.50 as the top then look to fade it back down. Bottom line, just horrible numbers and this stock will get hurt on them

6) $CRSP There Clinical Trial is put on Clinical hold……………..(73.59)
Stock Gapping down -$23 this is a case of too much hype too fast without enough results I would prefer this to small pop at the open and ignore the defense confusions out there, I like this to fade back to $55 and under on it today, so I will be eyeing the short side of this trade today, but $55 imo will be the bottom like yesterdays imo.

7) $DG Earnings Miss (96.52) Just like DLTR they go hand in hand (96.52)
Stock Gapping down -$8 would nibble some long at $89 area think we get a move to $92-$93 before fading off, if this pulls at open to $86 area and under look for a nice move for 3-5 points to the upside on it.

8) $DLTR Earnings Miss (96.35) NOTE this and DG tend to get bought on weakness
Stock Gapping down -$9 would nibble some long at $87 area look for a move towards $92+ on it if it comes then watch for topping then look to fade it back down. IF this pulls at the open below $85 area this WILL get bought up just like $KORS yesterday

9) $BURL Earnings Beat impressive numbers but think this will give back some (136.53)
Stock Gapping up +$10 I like to see small pop at open towards $148-$150 followed by a nice profit taking gap fill back down to $140 and under, decent number but I’m not feeling this will hold its 10 point gain so I will be eyeing the short on it

10) $MDGL Liver Drug Succeeds on Phase 2 Primary Endpoint (108.43)
Stock Gapping up +$75 I would prefer a fade to $150 on this news imo I love the news but I like to see some solid profit taking on this, also if this pops at open look for $185-$190 as the topping on it, haven’t seen any new PT or analyst out but I think we get a decent fade on it so watch for it.

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Notable Calls:

$ULTA Gapping up in anticipation on upcoming Earnings (253.48) would try and get the short on $257-$258 area and look for this to gap fill back down full to $254 and under then watch for bottom curl, I think this will repeat what it did yesterday

$TLYS Earnings Beat (12.21) Trading thin. Gapping up +$1.50 I like to see a small pop at the open towards $14+ then scale in short and fade this back to $12.60 or under on profit taking, then take a few long on it, if this pulls at open to same area go long and bounce it for 1-1.5 points

******$MGNX Evercore out with a BUY rating and $33 PT (22.51) NO MM’s on it yet, so look for this to pop at open to $23.50 – $24 then look to gap fill it back down to $22.65 and under then bottom curl then slow move back to highs for 1-2 points

 

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