Author: BHS

Blue Horseshoe Stocks: ODP Update, FRO & More

Frontline, Ltd. FRO

The last time we mentioned FRO was early this month, at which time the stock was trading at a low of 1.33. It has been ramping its way up over the past few sessions, making higher highs and higher lows, and we wanted to flag it once again this morning as it is trading up significantly in the premarket.

This morning’s high of 2.15 represents an increase of 61% over the 1.33-low that we observed as recently as Monday. With the heavy early-morning momentum we’re seeing we’ll want to follow along with this play closely today and into next week.


Talisman Energy, Inc. TLM

We’ll keep an eye on TLM today as well based on some heavy premarket activity and the fact that the stock is coming up off of its 52-week lows. We’ve noticed a break on the chart due to a gapdown from around 5.60 to 4.80, and with the stock currently trading in the 4.40’s, we should be on the lookout for it to possibly make a run at filling that gap.

ChemoCentryx, Inc. CCXI

Also popping up on our morning scan is CCXI, which is currently trading feverishly in the premarket on the heels of a PR early this morning regarding positive top line results on one of its products currently in testing.

With the stock up over 100% in early trading, we’re going to be on the lookout for massive profit-taking to potentially drive the price back down where it may set us up to take advantage of a dip-and-rip opportunity.

MOUNTAIN VIEW, Calif., Dec. 12, 2014 (GLOBE NEWSWIRE) — ChemoCentryx, Inc., (CCXI), a clinical-stage biopharmaceutical company focused on autoimmune diseases, inflammatory disorders and cancer, today announced positive top-line 52-week data from its Phase II clinical trial in diabetic nephropathy with CCX140, an inhibitor of the chemokine receptor known as CCR2. >> FULL PR

Office Depot, Inc. ODP

ODP was a good call for yesterday’s session, as it made a solid 8% move on news that a large activist investor took up a significant position in Office Depot while raising its existing stake in Staple stock to 10% total ownership. It is fueling speculation that there could be pressure for a merger between the two, so this is definitely a story we’ll continuously track going forward.

Extended Watchlist:
ONVO, ONTY, DENN, FCEL, UBIQ

Blue Horseshoe Stocks: ABIO Recap & More

ARCA BioPharma, Inc. ABIO

Our top performer from yesterday’s report was most assuredly ABIO. We tagged this play after noticing that it had announced being granted orphan drug status by the FDA for “rNAPc2” as a potential treatment of viral hemorrhagic fever post-exposure to the Ebola virus.

Fresh FDA-related plays can often provide a healthy move to take advantage of, and that’s just what we got from ABIO, The stock traded in a range from .82-1.03, an intraday increase of 25% on nearly ten times the 3-month average volume.

Our long-time readers might recall our coverage of this stock last year in December, which sort of got lost in the shuffle that was the hysteria created by the “Green Rush”. We tracked the stock from the low 1.40’s to over 2.20 over a period of a few weeks, so it will be interesting to see if history continues to repeat itself with ABIO, especially with the stock coming off of it 52-week low on Tuesday.

CYREN Ltd. CYRN

We also wanted to acknowledge the early morning move made by another of the stocks we mentioned in yesterday’s newsletter, CYRN. It bolted out of the gate, quickly running from 2.22 to 2.67, a 20% spike within the first 15 minutes of the session.

The stock got hammered into the close quite a bit, so we’ll be open to the possibility of seeing some bounce action, provided it can hold support at or above the 50DMA of 1.75.

Office Depot, Inc. ODP

ODP is in the midst of making a big move on the heels of large activist investor Starboard Value taking up a position which equates to 6% of ODP’s total shares. It also upped its stake in Staples to 10% fueling speculation that it could create pressure for the two office supply giants to merge. It will definitely be a story that we’ll be interested to follow moving forward.

Extended Watchlist:
GPT, RGDX, CYTX, DRD

Blue Horseshoe Stocks: LXRP News Update & FDA-Related Plays

Lexaria Corp. LXRP

Following our initial report on LXRP yesterday, the stock had a productive session as it traded in a range from .095 to a high of .108, an intraday gain of 14% on roughly 2.5X the monthly average volume. It closed at .102 holding more than half of the day’s gains, which is generally a good sign.

We promised to relay any further updates regarding the current status of LXRP, and sure enough the company published a fresh PR this morning containing another major development. It relates to the sale of Lexaria’s domestic oil assets, which we mentioned in yesterday’s report, becoming final with all funds received. It provides LXRP with a cash infusion of $1.4M which will facilitate a clearing of all debt currently on the books, as well as advance the company’s plans to release a CBD-infused tea (infusion method is patent pending) via a new online sales portal. With the rate at which LXRP has been executing its strategies, we expect to hear about the opening of that website any day now.

KELOWNA, BC / ACCESSWIRE / December 10, 2014 / Lexaria Corp. (LXRP) (CSE:LXX) (the “Company” or “Lexaria”) is pleased to announce the sale of all its Belmont Lake oil assets for $1.4 million in cash has closed and all money received. Lexaria congratulates the new owners for having purchased a fine asset. >> FULL PR

FDA-Related News

We caught a couple of FDA news plays on this morning’s scan that we’ll want to keep an eye on:

ARCA BioPharma, Inc. ABIO has reported that the FDA “has granted orphan drug designation to rNAPc2 as a potential treatment of viral hemorrhagic fever post-exposure to Ebola virus.” >> VIEW PR

Cytori Therapeutics, Inc. CYTX announced that the FDA granted approval “for a pivotal clinical trial, named the ‘STAR’ trial, to evaluate Cytori Cell Therapy™ as a potential treatment for impaired hand function in scleroderma, a rare autoimmune disease affecting approximately 50,000 patients in the United States.” >> VIEW PR

Extended Watchlist:
 CYRN, SYMX, SNSS