Blue Horseshoe Stocks: Bottom-Plays, Updates & More

BioNovelus, Inc. ONOV

For the third day in a row we’re bringing our readers up to speed on new highs for ONOV, a stock we’ve been tracking since  April from a low of .006, which has been continuing to break out like crazy this week.

We said in was in blue-sky territory in yesterday morning’s premarket report, and it did indeed continue to soar into the atmosphere. From an early low-of-day at .11 it got a boost all the way up to its new high of .15. It went down in the books as a 36% intraday pop, and a megalithic move of 2400% over our witnessed low from earlier this spring!

Cheers go out to any of our readers who were able to carve out a slice of the ONOV pie, it’s been quite a ride thus far!

Bottom-Play Possibilities:

As most of our audience is surely aware by now, we love a good bottom-bounceplay opportunity, and in the past, catching stocks that have taken recent beating at just the right moment has served us quite well. We’ve got a couple of potentials in that arena this morning that we’ll want to have an eye on over the next few sessions.

Infinity Pharmaceuticals, Inc. INFI – This is a classic case of negative hype and unfavorable news simultaneously converging to form a perfect storm of stock bashing. Just look at the massive gap on the chart, even a partial re-filling of which would produce sizable gain opportunities. The enormous selloff which occurred led to new lows, but INFI gave something of a bounce signal during yesterday’s session, so we’ll be quite interested to see how the activity unfolds from this juncture.

FXCM, Inc. FXCM – Also giving off a strong bottom signal is FXCM, a stock we rode to multi-bag gains back in December. We want to come back and give some attention to this play as it has come down to find support near its 6-month lows, and appears ready for a possible rebound. We’ll want to be watching for when that occurs.

Extended Watchlist:
CRDS, MUX, AG, NUGT, GDX, AEGR(Bottom-Watch)

Blue Horseshoe Stocks: ISR, Bottom Plays & More

IsoRay, Inc. ISR

We first began tracking ISR back in early October as a potential bottom play, and just a few sessions subsequent to our first mention, we would witness a low of 1.22 (10/16).

It took just a couple of weeks for us to ride ISR to a 66% gain as it ran to a high of 2.03 at the end of October. It consolidated down from that level, and for the past month or so the stock has been trading channel between 1.50-1.70.

ISR is catching our attention once again this morning, as we picked up on a new update over the press wire regarding the company’s Cesium-131 low-dose radiation therapy for brain cancer sufferers (Learn More About Cesium-131).

The Barrow Neurological Institute conducted studies with 27 patients with several variations of brain cancer, and the company is reporting that there was no recurrence of the disease on the treated sites in 26 out of the 27 candidates, where other treatments had failed. >> Read PR

We’re going to be interested to see how the stock picks up trading following the holiday week, especially with such an encouraging piece of news out in the premarket. So far, the ISR has gone as high as 2.08 in preliminary trading this morning. We could be looking at a dip-and-scenario once the session commences; to remain interested we’ll want to see support hold at a minimum of 1.89 as that would mark a 50% retrace from the current premarket range.

Potential Bottom Plays

AEterna Zentaris, Inc. AEZS absolutely fell off a cliff back in early November, following FDA denial of a New Drug Application AEZS had submitted. The stock has spent the intervening time bottoming out, and it is now trading at all-time lows. This is exactly the sort of situation that sends us into “vulture-mode”, where we’re on the lookout for any signs of recovery after a stock has been hammered down.

Frontline, Ltd. FRO is a stock that is in the process of coming off of a recent bottom, and is showing signs of life here in today’s premarket, currently trading in the mid-1.30’s.

Extended Watchlist: