MarilynJean Interactive, Inc. MJMI
We want to circle back around to a play we tagged for observation last week. MJMI has been making a good deal of progress, showing upward momentum over the past couple of sessions.
Subsequent to our mention of the stock we took note of a .091 low (Friday), and after a couple days on the upswing, MJMI reached a high of .216 yesterday afternoon. It represents a three session-swing amounting to 137%
We’ll want to see the stock maintain support at or above the 50DMA at .16 on any pullbacks in order to remain interested.
Potential Momentum Plays
Each of the following stocks represents the possibility for continued momentum coming into this morning’s sessions. Both closed just a shade under their respective highs-of-day, and will be placed on watch as we cruise through midweek.
CollabRx, Inc. RNVA – We’re no strangers to this stock, which is in the midst of filling a sizable gap on the chart that presently runs from current PPS levels in the mid-to-upper .30’s, on up to around .47.
Yesterday RNVA hit a high of .39 before closing just below at .37. We’re looking for the stock to produce its fourth consecutive session of higher highs and higher lows today.
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Intermolecular, Inc. IMI – IMI is new to our reports this morning, and qualifies as both a bottom-bouncer as well as a potential momo-play. It also ended up closing with strength, just a hair shy of its daily high yesterday.
It comes less than a week removed from a big PPS dropoff, so we’ll be on the lookout for the stock to continue this rebound and regain some of the ground it has lost over the past week or so.
Tempur Sealy International, Inc. TPX – Options Update
We also want to provide a quick update on the TPX longer-term options idea that we’ve been tracking for over a week now. We were initially interested in the TPX 08/19 $70-80 Calls. The $70’s have since been pushed too deep in the money, but over the past week both the $75’s and $80’s have performed quite well:
$75 Calls – Range: 1.91-4.50 – Max Gain: 135%
$80 Calls – Range: .38-1.35 – Max Gain: 255%
We’ll continue to track these plays leading into their expiration next Friday.
Extended Watchlist:
ECPN, MINE, EEGI, ASPS, PLG, JD