MJNA, PHOT, SKTO, MWIP, HEMP, ELY & Extended Watchlist

Marijuana Sector Update

To kick off the week, we’re turning the conversation back to both medical and legal marijuana-related stocks, a topic that we have covered extensivelyfor over a year now. Many of our old favorites have begun to show signs of promise once again, so we thought this would be a good time to bring them back into the fold as features in today’s morning report.
Medical Marijuana, Inc. MJNA

 

Growlife, Inc. PHOT

SK3 Group, Inc. SKTO

MediSwipe, Inc. MWIP

Hemp, Inc. HEMP

Each one of the preceding stocks (along with a great many more) has brought us several opportunities for large, or even astronomical gains, as was the case with MWIP from which we were afforded the chance at more than a 5250% profit (Coverage range: .0026-.1398)

Last week each of these began finding its way back to our watchlist as we’ve noticed increased volume, and as we’ve learned extensively in the past, volume often precedes price. Thus we are going to want to keep a close eye on these, and indeed the marijuana sector as a whole, which has yet to reach even a fraction of its full potential. Polls show that more than half of Americans now support legalization of cannabis and cannabis products, and of course we know that some states have already taken the necessary steps to make it available to their citizens.


Callaway Golf Co.  ELY

ELY appeared in Friday’s extended watchlist, then put forth a performance that merits mentioning. The stock touched a daily low of 7.82 very early in the session before enjoying a steady 14% surge up to 8.90, its highest point since 2010.

This comes on the heels of a wave of positive press last week including significantly boosted quarterly earnings:


Extended Watchlist:
DNDN, KNDI, OGXI, FNMA, FMCC, AAPL (Earnings expected today)

STXS, JAKK, FNMA, FMCC, PGCX & Extended Watchlist

Stereotaxis, Inc. STXS

After appearing in our Extended Watchlist yesterday morning, STXS made a power move from 3.60-5.69, good for a 58% profit. While our timing on this alert was as close to perfect as we could hope, it certainly was no surprise. This isn’t the first time we’ve ridden this stock to large gains.We first mentioned STXS on July 30th, and at the time, it was trading as low as 2.33. By 08/06, the stock would go on to hit 10.85, for an unbelievable move of 366%

As you can see below, there is a large gap on the chart to fill from 5.64-8.02, so we’re on the lookout for a break past 5.70, which could trigger a possible move up into 8.00-range.


JAKKS Pacific, Inc. JAKK

We caught JAKK on our morning scanner yesterday as the stock was gapping up significantly. What resulted following the bell was a solid day’s performance, as we observed a run from a low of 5.68, and a subsequent high of 6.35, good for a gain of 12%


Fannie Mae FNMA & Freddie Mac FMCC

We tracked this mortgage-lending pair earlier this year to big gains, following them from the $1-range all the way up to the $5-range. (FNMA 1.20-5.44, FMCC 1.11-5.00)

We thought it was high time to re-introduce them to our watchlist, as they are breaking out once again. If past results are any indicator to the kind of gains we can expect on the current run, we’re strapping in for what could be another wild ride.

FNMA Chart

FMCC Chart


Virtual Sourcing, Inc. PGCX

PCGX comes to our attention today as a possible bottom bounce play. We’ve seen it maintain higher highs and higher lows coming off of a recent bottom.

The stock is known for making big swings in the past. Back in August it ran from .16 to 1.10, so there is a precedent for large gains from current levels.


Extended Watchlist:
SEEK, MJNA, PHOT, CLSN, BLDP

MINE, PGRX & Extended Watchlist

Minerco Resources , Inc. MINE

MINE is an old favorite of ours that we’ve tracked for quite some time. Just following our highlight of the stock earlier this month, we saw a 100% move from .0015 to .003. In the weeks that followed that, there was a pullback to .0014 as it geared up for another swing. Yesterday’s close of .0024 marked a gain of another 71%, bringing our aggregate gains for the month of June to 171% .

Currently we are looking for MINE to break resistance at the 200DMA of .0025. If it can push past that mark, we’ll be looking to test its recent swing high of .0032. Beyond that level, we could possibly see a challenge of an earlier swing high from February at .004.


Prospect Global Resources, Inc. PGRX
Yesterday PGRX caught our interest with a breakout session, trading up significantly on near-record volume, breaking through its 50DMA (.25) and closing at the its high of day at .267. We want to put this mover on watch this morning for a continuation of the momentum that we saw building up yesterday.


Orchard Supply Hardware Corp. OSH
OSH is gapping down significantly, so we will want to scan it readily for a bottom-bounce. The recovery could be good for significant gains if timed properly.


Extended Watchlist:
PLUG, CYTK, FNMA, MSTX