Blue Horseshoe Stocks: JDST Review, Options Ideas & More

Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST)

We highlighted JDST in Friday’s morning report, and on that day we observed a low of 11.40 following a gap-up. Bolstered jobs numbers and the continued strength of the dollar combined with a lag in gold prices fueled the beginning of what has turned out to be a solid run for this ETF.

Yesterday, it continued its uptrend, breaking through the 200DMA (14.46) and reaching as high as 14.50. That translates to a respectable two-session increase of 27%

We’ll be keeping a close eye on the spot price of gold which is currently holding support off of three-month lows, and urge caution moving forward. A significant rebound would effectively spell the end of JDST’s current momentum.

Vencor International, Inc. VCOR

We’re also taking notice of VCOR this morning on the heels of a premarket PR alluding to a massive 40% reduction of its authorized common stock. VCOR has recently been rebounding off of its lowest price in more than four months, and it’s possible we’ll see a continuation of that momentum as a result of today’s announcement.

Vencor Announces Reduction of 2 Billion Authorized Shares (Tue 8:30AM EDT)

Qihoo 360 Technology Co. Ltd. QIHU – Options Ideas

We’re catching QIHU in the midst of a morning gap-up today following the company’s post-market earnings beat yesterday. It’s leading us to formulate a couple of options-trading ideas that we’ll share with you now, along with a snapshot of the current chart to help illustrate the opportunities it presents.

The stock itself is coming off of a recently established 52-week low, which in and of itself is a phenomena for which we’re constantly on the lookout.

For a possible short-term swing trade opportunity, we’ll be monitoring the QIHU Weekly (03/13) $48-49 Calls. We’ll also be keeping watch over the 03/27 $50 Calls (Last Trade: 2.22) for a longer-term possibility.

Extended Watchlist: