Valeant Pharmaceuticals International, Inc. VRX- Options Update
When others are behaving as if the sky is falling, namely the analysts over at Piper Jaffray who recently blasted VRX, we’re on the lookout for for opportunities. We didn’t go along with the crowd, and went bullish on the embattled stock, and it turns out we had the winning hand.
We called Monday’s 52-week low the bottom, at least for the time being, and signaled the VRX 04/22 $32 Calls for observation. VRX had a boomer of a recovery session, running from 29.01 back to 32.05, and as a result our tracked contracts enjoyed a sizable intraday increase. From a low of 2.90 they reached 3.90, a healthy 35% pop, and granted the fact that the stock appears ready to gap-up this morning, we expect that figure to expand appreciably.
Advanced Medical Isotope Corp. ADMD
This familiar stock was one of a pair of plays that stood out from the rest on yesterday morning’s extended watchlist. We’ve tracked this play on and off for well over a year, and came back to it at a good time to take advantage of the chart it’s been building.
We witnessed an intraday run from .003-.0042, marking a move of 40% which occurred on the heaviest recorded volume in almost a year, and the fourth consecutive session of higher highs and higher lows.
We also prepared a video presentation of the charts of each of the preceding plays:
Pan American Goldfields, Ltd. MXOM
We also had MXOM appear in yesterday’s watchlist, and it too enjoyed a modest but noteworthy move on the day. It went up from a low of .0068, reaching a high of .009. That worked out to a 32% intraday performance on approxiamtely qudruple the average monthly average volume.
KollagenX Corp. KGNX – Possible Bottom Bouncer
We’re going to pin KGNX to our tracklist today as well after noticing the stock showing signs of life off of its recently established 52-week low. We’ve highlighted the pertinent indicators on the chart below, and will continue to track its progress provided it continues to build higher base levels of support.
ENHT, EARI, KGKG, GBSN(FDA News)