Last Week’s Bottom-Bouncers
We were tracking a couple of stocks and an ETF that we put on bottom-watch heading into the end of last week, and are happy to report that we’ve seen the beginnings of some nice rebounds on those fronts.
Direxion Daily Nat Gas Bull 3X ETF (GASL)
It started with the triple-leveraged natural gas bull fund, GASL, which we caught coming off of its 52-week lows and entered into the conversation on Thursday. At the time we would witness a PPS low of 4.88, and after a nice initial run that day, GASL would go on to register a high of 6.98 on Friday. That marked a timely call on our behalf which opened the door for overnight profits of up to 43%
LINN Energy, LLC (LINE) & Linn Co, LLC (LNCO)
We tagged this linked pair on Friday, noting that one is a publicly-traded wholly-owned sub of the other, and that the chart patterns were virtually identical. Traders could have latched on to either, and witnessed the reversal we called for on the charts.
The move for the parent, LINE, was recorded as a run from 2.73-3.83, a 40% intraday swing. The subsidiary, LNCO, ran 34% from 2.46 to 3.29. Both very respectable single-session moves.
We’ll continue to monitor all three of these plays for the possibility of continued uptrends as we kick things off this week. We’ll look for each one to register higher lows, building a higher base of support than we witnessed on Friday.
Pazoo, Inc. PZOO – Update
We re-tagged PZOO on Friday, pointing out the recovery that had been transpiring on the chart, and we were granted another nice opportunity by the stock. We watched as it ran from a daily low of .0059 and went as high as .0073
In the video chart we drew up for PZOO in that report we mentioned we wanted to see a break of the 50DMA (.0061) and we’ll look for the stock to maintain support at or above that level on any pullbacks. The next area of key resistance crops up at the 200DMA of .011.
The company had a conference call last week (>>>Read Transcript or >>>Listen to Call) which went over a vast array of important topics. We suggest taking the time to go over that; highlights included financial and share structure data, as well as information regarding all branches of the company’s rapidly expanding marijuana testing business.
The Medicines Co. MDCO
Setting off our abnormal volume scanner this morning was MDCO, which looks ready to fly with un-traded upon news regarding a cholesterol study hitting the wires on Sunday. The stock is up considerably in the premarket, so we’re going to formulate a potential quick-hitting options idea for intraday/intraweek flip opportunities- We’ll be looking for the possibility of dip-and-rips in the range of MDCO Weekly $38-41 Calls.
- ALN-PCSsc Achieves Quarterly and Potentially Bi-Annual Subcutaneous Dose Regimen Profile for Effective LDL-C Lowering in Phase 1 Clinical Study (Sun, Aug 30)
SIRG (Subpenny Momentum Play)
BONT, SFXE, GBSN (Bottom-Watch)