PROW, RNN & Extended Watchlist - Blue Horseshoe Stocks

Record-Setting ‘Green Rush’ Begins to Subside

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Like all good things, the frenzied buying of countless pot stocks largely came to an end during yesterday’s session. It was a historic week; an overwhelming trend caused by sheer excitement over Colorado’s precedent-setting entry into the post-prohibition era, and we were happy to cover every step, taking profits along the way! Granted, the main wave of hysteria is now over, but our continued interest in the sector as a whole will not wane. As we stated previously, this story has only just begun to be written. Even as many of the huge runners we’ve tracked began to pull back, others maintained their trends, and still others came down to find support only to rebound and provide bounce opportunities. Rest assured, we will remain hot on the trail of any possible chance at added profits within this sector that has been so good to us for so long a time. For now, it’s time to shift gears and talk about some of our other interests that were forced to the back burner in all the excitement.

Progress Watch Corp. PROW

PROW has brought us some really impressive gains in the short time that we’ve been including it in our reports. When we first began talking about it (12/20/13, trading at .0065) we were especially interested in its tight share structure. That day, we said that the 50DMA rising sharply toward the 200DMA “should lead to a golden cross in the weeks and months ahead.” That golden cross is now in progress as the stock ran into the close yesterday, attaining four cents, an increase of 515% off of the bottom we observed just twelve trading sessions ago.

As the value of the stock increases, we’re going to be looking for support levels to hold at areas of previous resistance. In the event of any pullbacks, we would like to see support hold at .025, and below that, .013, in order to remain bullish on PROW.

Rexhan Pharmaceuticals, Inc. RNN

Back on December 11th, we tagged RNN for the first time in our extended watchlist, and were rewarded with an intraday run of 26% from .4026 to .5179. Even as marijuana stocks were breaking out over the past couple of days, we were still tracking this stock’s impressive run via our extended watchlists, and yesterday, saw a high of .765. That marks an increase of 90% from our observed low, a figure which is being pushed even higher this morning; pre-market trades have gone off as high as .929, so things could get very interesting from here. This spike seems to have been catalyzed by a recent press announcement from RNN.

The following PR was released under the headline: “RX-3117 has Shown Efficacy Against Gemcitabine-Resistant Human Cancer Cell Lines and a Broad-Spectrum of Anti-Cancer Activity “
ROCKVILLE, Md., Jan 08, 2014 (BUSINESS WIRE) — Rexahn Pharmaceuticals, Inc. (NYSE MKT: RNN) a clinical stage biopharmaceutical company, announced today the initiation of a Phase Ib clinical trial to study the safety and efficacy of RX-3117 in cancer patients with solid tumors. RX-3117 is a next-generation cancer cell specific drug candidate that possesses a broad spectrum of anticancer activity with reduced side effects. In an exploratory Phase I clinical trial conducted in Europe, RX-3117 demonstrated oral bioavailability, and safety and tolerability in cancer patients with solid tumors. >> FULL PR

Extended Watchlist:
CNAT, BBRY, IMMU, BLDP, NSPH, RTRX