CBIS, OLIE, BGMD & Extended Watchlist

Cannabis Science Inc.  CBIS

CBIS is among the medical marijuana cast of characters that we’ve been following for a very long time. We began tracking this play almost two years ago, and have certainly seen a fair bit of dips and rips during that time. Freshest in our minds would be our alerts from this past February, at which point we witnessed huge gains as CBIS rose from the .04-range all way up to .1195.

We decided that now was as good a time as any to re-alert this play, as we’ve noticed it coming off of its 52-week low at .0299. At this time of year, it’s common to see stocks being subjected to tax-loss selling. We want to be on our guard as this period winds down, when selling pressure is likely to be alleviated. Stocks like CBIS stand to gain ground when that happens, as we head into 2014.


Olie, Inc. OLIE

OLIE turned out to be a well-timed call for us from yesterday. The stock may have ended the session in the red, but not before running from .0082 all the way up to a high of .02! That was good for an intraday mega-move of 147% on almost ten times the 3mo. average volume.

As we said, there was a significant pullback into the close at .0097, and with the kind of volatility we’re seeing out of OLIE, we definitely want to pay attention heading into week’s end. Further opportunities could certainly present themselves.


BG Medicine, Inc. BGMD

We had BGMD in yesterday’s extended watchlist, as we were tracking its pullback off of a recent spike. We did in fact get the bounce that we were looking for; following its morning low of .87, the stock would go on to hit a high of 1.05. A strong close at 1.04 suggests that momentum could carry over, and indeed we are seeing the stock gapping up in pre-market trading today.


Extended Watchlist:
ALIM, PERI, PSDV, OXBT, CDTI, TSEM, GILT