Month: September 2017

Blue Horseshoe Stocks: MRTX Recap & More

 Mirati Therapeutics, Inc. MRTX

After reporting positive cancer trial results on Friday, we talked about MRTX being poised for a big move and we weren’t incorrect.

The stock exploded out of the gate right from the outset, and traded in an impressive range from 9.15 to 12.40 early on in the day. That was good for a 35% intraday run- excellent for a $9+ stock. This is the third time in as many weeks we’ve called a stock that was approaching the ten dollar range and saw it gain more than a third in value in a single session.

Not only did MRTX trade up big on many times more thanits average volume, but it managed to maintain well over half of its daily advance, so we’ll be interested to continue monitoring its activity as we kick off a fresh trading week.

Iconic Brands, Inc. ICNB

We want to place ICNB on bottom-watch after taking a look at the recent history of the chart. This stock exhibits some really nice volatility and is coming down off of a significant spike.

When it finds support and rebounds, we could see a notable swing trade opportunity. The last such swing took the stock from the .003 range to .014.

The company recently announced its brand of Prosecco endorsed by former supermodel Christie Brinkley would be carried by Publix stores, so we’ll also be looking for further updates on that part of the story as well.

Pluristem Therapeutics, Inc. PSTI

We tagged PSTI for observation roughly a month ago, and have since seen a moderate move up on the chart, and will want to continue monitoring the situation.

The run the stock has made thus far is a marginal 27%, but things this morning have taken an interesting turn as the company announced the FDA granted fast track status to one of its treatments.

Extended Watchlist:
RAD, ADYN, NBRV, ARWR, PTIE, BIOA, MBOT, TRXC, COGT

Blue Horseshoe Stocks: ALDX Review & More

Aldeyra Therapeutics, Inc. ALDX

The big standout from yesterday morning’s premarket report turned out to be ALDX, which initially drew our attention with an abnormal volume signal, and the release of positive Phase 2a study data for a Dry Eye Disease treatment.

The stock recorded a continuously bullish pattern throughout the day, trading in an impressive range. From it’s early morning low of 6.60, the stock reached a high of 11.05 just prior to the closing bell. That’s an increase 67% on the day, on more than twenty times the monthly average volume. It also easily took the top gainer spot on the NASDAQ board for the session.

ALDX increasing in value by two-thirds in a single session worked well for us yesterday, but such moves also rare and often unsustainable events. It’s difficult to imagine a scenario where the stock doesn’t undergo a consolidation in the session or sessions to come.

Macy’s, Inc. M – Options Review

We want to swing back around for a recap of the performance in a set of Macy’s calls we made a few weeks ago as a longer-term options idea. Typically, when a stock seems set for an extended rebound, we’ll signal contracts whose expiration doesn’t occur for a longer period of time. In this case we highlighted the

It worked out nicely, with M stock making a steady increase over these last few weeks that facilitated a move in those calls from .60-1.37, which comes out to a respectable gain of 128%

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Fresh Idea:

We also look for quick strike chances as well, and may have one with Mirati Therapeutics, Inc. MRTX today after the stock soared following the presentation of positive cancer trial data at a conference in Chicago.

We’ll be looking for a dip-and-rip pattern off of this morning’s significant premarket gap-up, and will be tracking the MRTX Weekly $7.50 Calls* and possibly even the $10’s if it appears as if MRTX wants to break that ten dollar barrier.

*Never attempt to trade weekly options on a Friday unless you are A.) An expert trader and B.) Have money you can afford to lose. It’s an extremely risky proposition.

Extended Watchlist:
LPTH, ARRY, MBOT, ATOS, RXII

Blue Horseshoe Stocks: AMRS, TTOO Recaps & More

 Cracker Barrel Old Country Store, Inc. CBRL

We were looking at a favorable setup on the CBRL chart along with a premarket earning beat in yesterday morning’s report, and we floated a couple of options ideas that worked out pretty well early on in the session.

We had the CBRL Weekly $150 & 151.50 Calls as well as the 10/20 $155 Calls on watch, and both our short -term and longer-term ideas provided excellent chances for multi-bag gains on the day.

The Weekly $150’s traded in a range from 1.01-4.00 (+296%), while the
$151.50’s ran from 1.10-2.79, gaining 154% intraday. Even the longer-term idea, the 10/20 $155’s more than doubled on the day, running 175% from 1.09-3.00.

Amyris, Inc. AMRS

We wanted to circle back for AMRS today to recap the past month of its performance on the chart. We put this play on bottom-watch on the morning of  August 15th, and as it turns out, our timing was pretty good. It was just a couple of sessions later when we observed a low of 1.86  in the stock, and it’s been mostly bullish moves since then.

Yesterday, AMRS hit a new high of 3.84, marking an overall increase of 106% in matter of just one month’s time. If the stock can manage to break its previous resistance around the 4.30 area, things could get really interesting.

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Added Note:

T2 Biosystems, Inc. TTOO – In that same report from August 15th we were discussing the run we had seen from TTOO from 2.53 to its highs at the time just over $4. It too hit an impressive new high yesterday, at 6.99. That works out to a one month increase of 176%

Extended Watchlist:
ICNB, ONCI, TOPS, ALV, ALDX, IMUC,