Minerco, Inc. MINE
MINE was one of a pair of plays we tagged for observation in yesterday morning’s premarket report that offered up the chance at some nice single-session gains.
The stock traded in a range from its early morning low of .008 and essentially spent the entirety of the session trending up. It led to a high of .012 shortly before the closing above its 50DMA, and it marked a solid intraday pop of 50% The move came on nearly 8 times the monthly average volume as well, so we’ll be on the lookout for further activity from MINE.
A key area of resistance will be the stock’s previous swing high of .014 from late June.
Eline Entertainment Group, Inc. EEGI
The other mover from yesterday’s watchlist was EEGI. This subpenny has a track record of volatility, and it played to our favor quite nicely with a respectable intraday run.
From a low of .0011 it reached as high as .0015, a 36% move on slightly greater-than-average volume. The stock tends to bounce around freely within the .0005-.002 range, so we may look to catch this one on a future dip-and-rip, which the chart history seems to suggest is a strong possibility.
Macy’s Inc. M – Options
Macy’s is fresh off of a big beat on earnings and is gapping up big in the premarket. As always when we run across this type of situation, we want to signal a range of options calls to correspond with the forthcoming activity. The sheer number of times we’ve reaped rewards from earnings-fueled options trades is getting too high to count. We’ve actually done so with Macy’s itself on multiple occasions.
The target range we’re going to zero in on is the M Weekly $36.50-39.50 Calls, for potential daytrades and possibly even swing trades into tomorrow’s session, depending on this afternoon’s activity.
Extended Watchlist:
KEGX, WDDD, IMI, WAC, SPWR, GSV, NYMX(Potential Bottom-Bouncer)