We’ll kick things off this morning by updating everyone as to the status of MHRC, which we placed in Monday’s premarket report as a bottom-watch play. We really couldn’t have timed our alert any better, and after registering a low of .021 Monday, the stock has made continuous progression throughout the week.
Yesterday, after seeing a low of .0257, MHRC ran as high as .0337, marking an intraday move of 31% As measured from our observed low on Monday, yesterday’s high represents a three-session swing of 60%
We’ll continue to remain interested in MHRC in sessions to come provided it continues to establish higher lows as it has been doing. As we’ve pointed out on the following chart snapshot, a number of factors lead us to believe that upside potential remains high with this play. The stock was beaten back vigorously earlier this month, and there are even a couple of gaps to fill on the chart.
We’d now like to update our readers on our options ideas from Tuesday, which included targets in the WMT and HD chains- Yesterday we stated our belief that action in WMT and HD stocks could provide options traders with further opportunities for swing trades and as it happened, we were right.
Walmart-Stores Inc. WMT – For WMT the bullish run continued, and some of the contracts we were observing recorded substantial intraday moves. Possible gains ranged from the $58 Weekly Calls, which traded in a range from 1.81-3.06, allowing for gains of up to 69%, to the $60’s which ran from .26 to 1.16 for a huge 316% rip.
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The Home Depot, Inc HD executed a textbook dip-and-rip rallying into the close, and all of the contracts we originally signaled made big swings:
$123 Calls – Trading Range: 2.10-3.55 – Max Gain: 69%
$124 Calls – Trading Range: 1.30-2.55 – Max Gain: 96%
$125 Calls – Trading Range: .72-1.73 – Max Gain: 140%
$126 Calls – Trading Range: .33-.99 – Max Gain: 200%
In addition to the preceding plays, the following pair also made some solid intraday pushes after appearing in our morning report:
Axion Power International, Inc. AXPW turned in a nice intraday performance as it ran from a low of 1.10 to 1.60, for gains of up to 45% on nearly ten times its 30-day average volume.
Advanced Defense Technologies, Inc. ADCF ultimately ended taking a pounding into the close, but before that happened, it made a noteworthy pop straight out of the starting gate, running 39% from .0079 to .011.
BCCI, IDOI, JAMN, EFFI, NUVI, MARA