Authentidate Holding Corp. ADAT
Despite turbulent overall conditions, to this point we’ve succeeded in weeding out at least one big winner each day this week, and yesterday’s was most assuredly ADAT. We tagged this stock after noticing some unusual premarket activity, and it proceeded to break out immediately following the opening bell.
We witnessed a big-time surge from a low of .15 all the way up to .55 in the first 35 minutes of the session. That’s an eyebrow-raising 267% rip! Big cheers go out to any of our readers who were able to ride that massive wave of momentum to quick intraday profits.
Bon-Ton Stores, Inc. BONT
We called BONT as a bottom-watch play in Friday’s premarket report, noticing it testing new annual lows, and described it as being generally undervalued.
Our instincts proved to be quite accurate; the stock found its ultimate low of 2.89 during the next session on Monday, and followed that up with a tremendous rebound yesterday. The stock ran back to touch a high of 4.15, representing a session-over-session swing of 44%
Moving forward, we’ll look for BONT to continue to build higher levels of support. The stock will need to maintain above yesterday’s low to retain our immediate interest, but remember, we like to begin to monitor retail stocks like this one more heavily as schools go back in session and the holiday season rapidly approaches.
Options Ideas – Updates
We’ve got to update our subscribers on the performance of the options ideas we’ve been tracking this week for the second straight day. We zeroed in on the performance of Weekly UVXY $49 Calls and Weekly SPY $190 Puts, which we had already seen make considerable moves on Monday, and the opportunities just kept coming. Just look at the kind of gains that were offered up:
UVXY $49 Calls – Daily Range: 5.00-19.30 – Max Gain: 286%
SPY $190 Puts – Daily Range: 1.10-4.77 – Max Gain: 334%
The markets are gapping up this morning, so we’ll be on the lookout for a possible selloff from profit-taking followed by a subsequent rebound, for the chance at added opportunities in these plays as we progress through midweek.
ABGB(Gapping Up, Gaps to Fill on Chart), GSAT and GASL(52-Week Lows)