Medican Enterprises, Inc. MDCN
In yesterday morning’s premarket report we took note of MDCN’s rebound off of a relative bottom, and speculated that the momentum built up in Tuesday’s session could carry over into added gains.
That certainly proved to be the case, as MDCN spiked heavily from its early low of .0024, running as high as .0039 shortly before 11:30AM. It marked an intraday move which provided gain opportunities of up to 62% before pulling back into the close of .0022.
We’ll go ahead and monitor this one for the remainder of the week for any potential bounce-play chances that might arise when it finds solid support. We’ll look for that to occur at or above Tuesday’s low of .0015.
Isis Pharmaceuticals, Inc. ISIS – Options Idea
ISIS appears to be in full-on breakout mode this morning, and as a result we thought we’d formulate an idea to take advantage of this via the options chain.
Given the current price and conditions caused by this morning’s catalyst (link to PR below), we’re going to be tracking the activity in the Weekly $70-73 Calls for potential intraday flip opportunities.
- Isis Pharmaceuticals Reports Data from ISIS-SMN Rx Phase 2 Study in Infants with Spinal Muscular Atrophy (Thu 7:00AM EDT)
PTBI, RAD, SFUN, ATOS, AGEN, ASTI