Cannabis Sativa, Inc. CBDS
CBDS was part of our cannabis stock watchlist yesterday, and even as the majority of the sector was seen to be fading, CBDS bucked the trend and produced an excellent intraday opportunity.
We watched as the stock took off like a rocket right at the opening bell from a low of 1.26, and didn’t stop until hitting its 2.45 high-of-day shortly before 11’clock. That works out to a 94% swing and it came on immense volume, to the tune of 23X the 3-month average.
Cheers go out to any of our readers who caught a piece of the action on CBDS, which was the first in a trio of selections from yesterday’s premarket report to produce respectable intraday performances.
Cardinal Resources, Inc. CDNL
Next in line was CDNL, which is a stock that we’ve referenced in our reports on numerous occasions over the past several months. This subpenny runner turned in an intraday rip of 77% as it ran from .0047-.0083 on a little more than twice the average trading volume, and managed to hold the majority of its daily advance into the close at .0074.
It marked the second consecutive big day for the stock trending off of its lowest prices in roughly six months, so we’ll certainly want to continue tracking its activity, watching for it to record higher highs and higher lows in coming sessions.
Celator Pharmaceuticals, Inc. CPXX
We caught CPXX yesterday on the heels of an attention-grabbing PR (link below) which hit wires post-market on Monday afternoon, relating to encouraging results from a late-stage clinical trial. Despite already being up close to 300%, we still felt it warranted a tag in our watchlist, and we weren’t disappointed.
As is often the case in such circumstances, we saw a dip-and-rip unfold early, after which time the stock ran from a low of 6.44 to 9.10, for a solid 41% swing on absolutely massive volume.
We’re going to designate the following stocks as bottom-watch plays and reserve a spot on our watchlist for each of them over the next several sessions:
Pernix Therapeutics Holdings, Inc. PTX
Sunesis Pharmaceuticals, Inc SNSS
Peak Resorts, Inc. SKIS
Quantum Fuel Systems Technologies Worldwide Inc. QTWW
Chipotle Mexican Grill, Inc. CMG – Options Idea
We want to throw in a quick options idea this morning as well, and it’s going to come in the form of a short. Specifically, we’re going to be looking at the CMG Weekly $485-475 Puts.
VPRO, UPL, PSG, SIPC, LEAS, POTG