BioFuel Energy Corp. BIOF
BIOF hit a high of 1.10 on Thursday, a 10% gain. Although we are still sitting on the sidelines with this one, so far during our coverage of the stock, there have been several opportunities for flippers to have a field-day with BIOF.
Yesterday alone saw a 22% run from .90 to 1.10, dipped back to .85, and closed at .97, for an added chance at another 14%
In our opinion, the party isn’t quite over for these ethanol related stocks due to the current conditions affecting ethanol futures.
Icon Media Holdings, Inc. ICNM
ICNM opened at .07 on Thursday, and subsequently hit a high if .095, a sweet 35% gain. We are glad when our new picks fare well on the first day of coverage, as it can sometimes take a few days.
Volume was great yesterday, and it appears as if there is solid support at .07, which we would like to see the stock hold going into the weekend. We do have key resistance at .10, which will be the major hurdle to get over moving forward.