April, 2014 | Blue Horseshoe Stocks

Blue Horseshoe Stocks: MNKD, ANGI & Extended Watchlist

MannKind Corp. MNKD
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In putting MNKD on bottom-watch in Friday’s Report, we gave folks the chance to catch this play at a subsequent low of 3.85 on Monday.

We were then hit with the news concerning recommendation from an FDA advisory panel to green-light one of the company’s drugs, after hours on Monday which led to a significant gap-up yesterday.

It appears as if the stock will gap up for the second consecutive session today. In pre-market trading thus far, MNKD has pushed into the 7.30’s. From the low we saw just a couple of days ago to this morning’s high (7.33), represents an overall increase of 90%

Angie’s List, Inc. ANGI

Speaking of recovery plays, ANGI is coming off of a recent bottom, and the resurgence of the share price is opening up some avenues of opportunity with regard to the options chain.

Currently on our radar are the 05/17 $15 Calls, which closed at .65 yesterday, and the 04/19 $12.50 Calls, which last traded at 1.03.

A quick look at the 6-month ANGI chart reveals a stock with the ability to make big swings. We can see that from December through January it ran from the $12-range to the $19-range with ferocity. It would appear as if we are catching it at the beginning of another swing. The RSI is rising sharply, and we’ve got a confirmed uptrend off of that bottom with higher lows and higher highs having been achieved over the past three sessions.

The potential for gains, not only with the options, but also on the stock side of things, is something that we’ll be looking for as we track ANGI during its recovery.

Extended Watchlist:
GLGT, TFER, AMRS, RGDX, ANTH,

Blue Horseshoe Stocks: Midday Update – 04/02/14

Petroleo Brasiliero SA (Petrobras) PBR – Options

We first brought PBR to our watchlist on March 21st, a few days after the stock had hit its all-time lows (03/17 @ 10.20). We recognized the recovery off of that bottom as a prime opportunity to take advantage of the options chain.

We’re extremely pleased at the subsequent performance that PBR has registered. Since our initial alerts, we’ve seen a steady rebound from PBR culminating in today’s high of 13.95 (+37% from our observed low).

It has allowed us to see substantial gains, as the May $12 Calls that have held our interest from the very start have come from a low of .31, to today’s high of 1.90. That’s an impressive move of 513% in the span of just seven sessions.

The June $14 Calls that we added to our radar on Monday have gone up from .41 to .71, representing a 73% increase.

Intraday opportunities today included a nice move from the $13 Weekly Calls trading in a range from .31 to .92. If the stock can breach $14, we may want to go with the $14 Weeklies for further flip opportunities heading into Friday.

Blue Horseshoe Stocks: Bottom Plays, Pot Stocks & More

Legacy Platinum Group, Inc. LWSP

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The latest addition to our cannabis watchlist, we introduced LWSP in yesterday’s daily report. After consolidating off of a recent 39-cent high, the stock has made higher highs and higher lows off of its bottom.

Yesterday the stock traded from its low of .187, and ran 12% into the close, ending the session at its high-of-day, .21. We always like to see a stock finish on a high note, as it is often a precursor to further gains.

BARCHART.COM is currently giving LWSP a 96% Overall “Buy” Rating

MannKind Corp. MNKD

MNKD serves as the latest example of why we highly suggest all of our readers keep a running list of the stocks we place in our daily Extended Watchlists.

We included this play in Friday’s report as it had been in near free-fall and the possibility of a bounceplay was present. The stock ended up finding support at 4.02, and yesterday after-hours we spied a PR regarding recommendation from an FDA Advisory panel to green-light the company’s AFREZZA^(R) insulin inhalation powder.

As a result, the stock is gapping up significantly in pre-market action today, so we’ll want to keep a close watch over this potential breakout play.

VALENCIA, Calif., April 1, 2014 (GLOBE NEWSWIRE) — MannKind Corporation (MNKD) today announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the U.S. Food and Drug Administration (FDA) voted 13 to 1 to recommend that AFREZZA^(R) (insulin human [rDNA origin]) Inhalation Powder be granted marketing approval by the FDA to improve glycemic control in adults with type 1 diabetes and voted 14 to 0 to recommend that AFREZZA be granted marketing approval by the FDA to improve glycemic control in adults with type 2 diabetes. If approved, AFREZZA would be the first ultra rapid-acting mealtime insulin therapy available in the United States. >> FULL PR

Alternative Fuels Americas, Inc. AFAI

Speaking of potential bottom plays with fresh news on the wires, we caught AFAI in our morning scan today, and as it turns out, this is another marijuana-related stock. That fact alone is enough to grab our attention.

We have yet to see much news in this sector from Florida, one of the latest states with a medical marijuana initiative on its ballot, so we’ll be interested to follow this storyline as well.

HOLLYWOOD, Fla., April 2, 2014 /PRNewswire/ — Alternative Fuels Americas, Inc. (AFAI) announced today that its subsidiary Marijuana Holdings Americas, Inc. has founded and will sponsor the Florida Cannabis Industry Association (FLCIA), the primary trade association for Florida’s emerging cannabis industry. >> FULL PR

Prana Biotechnology, Inc. PRAN

In Monday’s Extended Watchlist, we called PRAN a “Huge gap down, possible bounce-play”. The downward pressure continued through yesterday’s session, and the stock closed at 2.30, just .03 off of its low.

This morning, we are seeing the beginning signs of a potential recovery; PRAN is gapping up to the tune of 4% in pre-market trading. We’ll continue to keep this stock on watch, in the event it can regain some of its recent lost ground. Trading over $10 as recently as March 26th, a return to even a fraction of those levels would mean significant opportunity for the sharp trader.

Extended Watchlist:
ENVI, RNN, KIOR, SOL, CPST, DLLR(Possible Buyout)