Blue Horseshoe: Pot Stocks Update & More

Pot Stocks Update

Even as we’ve had other things occupying our main focus, we’ve stated continuously that traders should keep the cannabis sector on close watch. Following the complete hysteria over the industry which reached its peak shortly after we rung in the new year, we’ve seen just what we expected; consolidations leading to bounces that in many cases have been good for gains approaching those achieved by the New Year’s rush. So let’s take a look at some of the more notable performers from our long-standing watchlist. These represent just a few of the opportunities that marijuana related stocks have continued to bring us. We are not done with this sector by any means, and feel strongly that it will yield more and more gains as time goes on.

ENDEXX Corp. EDXC

We’ve had EDXC on our radar for a very long time, and it is one that didn’t lose much ground at all after pulling back off of its initial surge. Beginning at less than seven cents, 2014 has seen the stock continue to bull its way upward, touching .235 yesterday. It’s certainly a far cry from when we first came upon the stock last year, back when it was trading at roughly .015.

Cannabis Science, Inc. CBIS

CBIS has made quite an impressive bounce after consolidating off of its big run, finding support at .075; from there, it launched itself back upward for a sizable move to yesterday’s high of .1255. That marks a three-session move of 67%

Creative Edge Nutrition, Inc. FITX

The last time we looked in on FITX was on January 14th, at which time the stock was searching for support, and found it at .0174 the following day. It didn’t take long for the stock to produce yet another huge run, touching .045 during yesterday’s session. It broke above an area of previous resistance at .031, so on the next downswing, we’ll be looking for FITX to hold that level as support.

We’ve already pointed out how powerful a signal the Golden Cross can be, and FITX is yet another prime example of this. That’s why we’ve been keeping such a keen eye on our next play, because it too has a Golden Cross in the making.


Resource Ventures, Inc. REVI

REVI held its ground very well yesterday, after our bounce-call on Tuesday took it from .0074-.0105. It registered a higher low at .0085, and managed to close out the day in the green at .009. We’d like to see REVI continue to hold support in the .0075-.0085 as it works toward its Golden Cross, which if the current trend holds, could potentially occur within the next week or two.



ARIAD Pharmaceuticals, Inc. ARIA & Hemishperix BioPharma, Inc. HEB

We’ve been tracking both of these pharma plays for awhile, which are worthy of mentioning this morning:

ARIA

We mentioned ARIA back in October when it was trading around its 52-week low at 2.15. In Mid-December, it began a run which yesterday resulted in a high of 6.75. This morning the stock is gapping up into the 7.30-range.

ARIA has been the subject of potential buyout rumors originating in the UK, with names like GlaxxoSmithKline being tossed around. While this remains speculation at this time, the ramifications of a buyout would be huge, so this is a story we’ll continue to follow.

HEB

In the case of HEB, we’ve tracked this play since December, where it found a bottom in the low .20’s, and has performed exceptionally well into the new year. Yesterday the stock hit a high of .4978.


Extended Watchlist:
PSTI, INO, CVM, CBMX