Blue Horseshoe Stocks: Revisiting VMEM, ONOV & More

Violin Memory, Inc. VMEM

This morning, we’re going to take a minute to go over the recent performance of a stock that we tagged for tracking on June 1st. At the time, we were noticing that VMEM, after a period of sharp consolidation that led to its 52-week lows roughly a month ago, was rebounding nicely.

Subsequent to our mention of the stock we observed a low of .482, and in the ensuing two weeks, it’s been mostly trending upward as you can see on the chart below. It has since reached a high of .79, representing a total increase of 64% over our observed low.

To remain interested in VMEM, we’ll need to see it hold support at or above its recent swing-low at .56 on any pullbacks.


BioNovelus, Inc. ONOV

We’ve got another stock in ONOV that we had previously mentioned earlier this spring, which has also managed a near-continual uptrend of late.

Following our alert of this play back on the 26th of April, it was trading for as little as .006 a share, and as you can plainly see, the climb it’s made since that time has been nothing short of monumental. The stock incredibly hit a new high of .103 yesterday, which registers as a 1617% upswing over our observed low!

Despite being quite overbought at the moment, we’ve got the indicator of all indicators, a Golden Cross, forming on the chart. Should the stock hold support at .04 or better on any dips, we’ll remain watchful for the possibility of further breakouts.


Extended-Term Watch Idea:

Motorcar Parts of America, Inc. MPAA – We took notice of MPAA this morning after the company’s mixed earnings release. We are seeing a number of attractive features of this stock at the moment, and want to put it on a longer-term watch. Not only is it currently feeling out its 52-week lows, but there has been a wave of Form-4 Buying that has been reported over the past week. These are attributes which have led us to good bounceplay opportunities in the past, so we’ll keep an eye peeled.


Extended Watchlist:
SOUM, GRLD, SFBE, ERHE, IMNP, SGY, YGE,
ADTM(Back on bottom watch)

Blue Horseshoe Stocks: Options Update, NESV, WTW & More

TripAdvisor, Inc. TRIP – Options Update

Last week we were continuously tracking TRIP options, and that led to several opportunities for multi-bag profits. In addition to a slew of weekly contracts, we repeatedly mentioned our longer-term interest in the 10/30 $85 Calls.

They did manage to generate substantial gains on Wednesday, to the tune of a 120% intraday swing, and Friday’s move was also rather respectable. From a daily low of .93, the 10/30 $85’s made their way to as much as 1.40, which registers as a 51% pop.

We’re anxious to see how this morning’s news of a big extension of TRIP’s partnership with the world’s largest hotel company will be received by the community at large; these contracts could be in line for even further gains, so we’re going to leave them on our radar for the time being.

PARSIPPANY, N.J. and NEEDHAM, Mass., Oct. 19, 2015 (GLOBE NEWSWIRE) — Building on a longstanding relationship, Wyndham Hotel Group, the world’s largest hotel company, and TripAdvisor, the world’s largest travel site*, today announced they have extended their partnership to add the hotel group’s inventory to the TripAdvisor instant booking platform. >> FULL PR


National Energy Services, Inc. NESV

We placed NESV on our extended watchlist on Wednesday as a bottom-watch play, and it too finished the week with strength. After ultimately finding support on Thursday morning at a PPS low of .02, NESV enjoyed two straight sessions of bullish activity as it pushed its way into Friday’s close at a new high of .034; a two-session increase of 70%

Moving forward, we’ll be looking for the stock to continue logging higher highs and higher lows to establish a sustained rebound pattern.


Weight Watchers International, Inc. WTW – Fresh Options Idea

One of the bigger storylines heading into this week will assuredly be the huge spike in WTW stock after an early morning announcement today revealed that Oprah Winfrey will be taking up a 10% stake in the company and joining the board. As a result, the stock has exploded in the premarket, running from the $8 range up past $13.

Whenever a knee-jerk reaction from the investment community causes this type of dramatic rise, especially when no material changes have occurred in the involved company, we always take notice. In cases such as this, it is extremely common for the rapid rise to draw profit-takers out of the woodwork, and therefore we’re going to be watching for a classic dip-and-rip.

Our initial target contracts are going to be the WTW 11/20 $10-13 Calls, which should be in line to perform quite well if the action unfolds as we suspect it may. This is going to be a very interesting play to track as we kick off this new trading week.


Extended Watchlist:
GRLD, ILST, EQLB, STSC, BCCI