Frontline, Ltd. FRO
At the beginning of this month when we first began looking at FRO, the stock was trading at a low of 1.33. It took barely a week for the stock to start inching its way up, and it has continued to do so up to the present.
By the time we re-flagged it in Friday’s morning report, it had already cracked the $2.00-mark, and we did mention that the level of momentum was primed to allow for further opportunities.
This morning FRO continues to push the envelope, setting a new high in premarket trading action. This morning’s top figure of 2.64 puts us just slightly short of double-bagger status, having shown us an increase of 98% from the lows we observed the week before last.
It can be argued that the bolstering of activity seen on FRO (and other shipping plays) is due to the continuing fall of oil prices which translates to savings at the pump.
Opko Health, Inc. OPK
OPK is catching our attention in the premarket as well, as a result of an agreement announced this morning with pharma-giant Pfizer to develop and commercialize one of Opko’s highly promising products which combats Growth Hormone deficiency. Peruse the following PR to find out more; the development certainly lands OPK a spot on our watchlist to kick off the week.
In instances like these where a play is sent through the roof on substantial news, we look for the resulting profit-taking to pull the stock back, where we wait to take advantage of a possible dip-and-rip scenario.
OPKO Health, Inc. (OPK) and Pfizer Inc. (PFE) announced today that they have entered into a worldwide agreement for the development and commercialization of OPKO’s long-acting hGH-CTP for the treatment of growth hormone deficiency (GHD)… hGH-CTP has the potential to reduce the required dosing frequency of human growth hormone to a single weekly injection from the current standard of one injection per day. >> FULL PR
WordLogic Corp. WLGC
Speaking of significant news, WLGC forces its way into our vernacular this morning on the heels of the announcement that the company will be teaming up with energy-leviathan General Electric (GE) in order to “monetize specific patented intellectual property in General Electric’s portfolio.”
With such a high-profile bedfellow, WLGC will instantly gain new recognition, and it will be very interesting to see how that translates to the chart.
Notable Gainers from Friday’s Extended Watchlist
Oncothyreon, Inc. ONTY – Range: 1.69-2.05 Gain: 21%
Organovo Holdings, Inc. ONVO – Range: 5.82-6.50 Gain: 11%
Extended Watchlist:
TLM, SN, BLRX, KEG, HGSH, CPST