NO PDT BROKER

Tuesday, April 30, 2013

GMCR trade idea for tomorrow/this week

GMCR to me looks like it is setting up for a move to 61-62.50 by this week
i think markets got to rip past 1600 for this to happen  SPY 160-162

27% float short about 30-33 million shares

Break and hold above 58-58.30   target 60  then move to 61 then 62.50

Currently the stock has been in a 1 month consolidation
seen here

the current avg daily volume is 2.5 million

as you can see from the chart last time we had 2 green days it followed it by 2 more green days.

past 2 days i have noticed buyers at 56 holding this and then 57 today.

big move scenario
what i want to see based on volume to suggest that we may see a 5+ million volume day and possible a $2-3$ range  big 1 day move

3 minute volume pace of 50k shares      for a regular 2.5-3.5 mill vol   prob looking at a 20 k 3 min vol pace
5 min volume pace of 75k shares                                      35k

30 min candle 400-500k vol pace                          200-260k



or gmcr could just keep up with the low volume move higher  and put in a 3-3.5 mill volume day and creep higher $1-1.75 before a breakout.   but i feel that with this being a momentum stock that it will be picked up again and get pushed past 60 in 1 day move

closing price of the options on tuesday   just got it off google finance
if i see volume confirm for a possible  big move tomorrow i might go in heavy on the 58s for a daytrade and
59s for a lotto   and 57.50s for a swing

56.001.60+0.291.661.79411251
57.000.95+0.180.991.07336443
57.500.72+0.100.710.79240772
58.000.51+0.090.490.56257648
59.000.15-0.070.190.24263315
60.000.10-0.010.050.17267506
61.000.060.000.010.045227


im long some gmcr 57.50 weekly calls.

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