FREE, VCLK & Extended Watchlist

FreeSeas, Inc. FREE

We mentioned FREE on Tuesday after it set off our irregular volume scanner. We’re still watching this stock, as it has managed to achieve higher lows and higher highs every day since then while maintaining much of that volume and momentum. We generally consider a setup like this to be a bullish signal, so we’ll be monitoring the situation as we close out the week. So far, from Tuesday’s low (.2213) to yesterday’s high (.3346), our total possible gain on this play in just three sessions amounts to 51%

We mentioned that our main areas of resistance here were at .33 and .38, and that statement still holds true.

VCLK Options
We were looking at the 09/21 $21 Calls on VCLK a couple of weeks back, so let’s look at what they’ve done for us in the meantime. At the time they were trading in the .60-.80 range, and have since hit a high 1.45, reached at yesterday’s close. We are going to want to keep an eye on these calls heading into their expiration at the end of next week. Provided VCLK continues to fill its recent gap-down (pointed out in our previous report) and push us further into the money, we should continue to see gains from these contracts.

Extended Watchlist: