We wanted to comment on the lack of OTC trading yesterday even though our newsletter didn’t happen to contain any OTC stocks. Due to an alleged glitch in connectivity, FINRA made the call to halt all trading on the OTC Markets. It took most of the day for a solution to be enacted, but apparently the problem was resolved, and trading will resume normally today. This wasn’t the first time this year that a US Market has been shut down for glitches in data streams, as many you of recall, NASDAQ was hit with a similar occurrence which forced a halt back in August.
Geron, Corp. GERN
We added GERN to yesterday’s extended watchlist upon witnessing pre-market trades going off in the 4.00-range. It was gapping up big-time from its previous close at 3.60, and began the day’s trading at 7.25. This was a red flag, and as is usually the case with a stock which has spiked so violently, GERN hit its top at 7.79, and began the inevitable reversal. This would have been an excellent opportunity to short the stock, and cover in the 5.00-range for a rapid profit to the tune of 40%
Merrimack Pharmaceuticals, Inc. MACK
MACK is a bottom-bounce play that we picked up on yesterday, and like it as a potential recovery play. There is a big gap on the chart between the 3.00-3.40 level, the filling of which could provide us with gains of 30% or more. We’ll have it on watch today to break that 3.00-mark.
Aden Solutions, Inc. ADSU
&
Accredited Business Consolidators Corp. ACDU
We noticed that these two plays began to breakout yesterday on abnormally high volume. We want to keep them on watch for a continuation of that momentum into today’s session.
Gainers From Yesterday’s Watchlist
Here are picks from yesterday’s extended watchlist that fared well and offered us the chance at gains:
NeuroMetrix, Inc. NURO saw a low of 2.38, and ran 20% to 2.85 roughly between the hours of 10am-1pm
LivePerson Inc. LPSN touched a low of 10.61 before hitting its daily high at 11.44, an 8% increase.
Extended Watchlist:
PPHM, GRPN, RVLT, OXBT, SUNE