Potential Bottom-Plays
Comstock Mining, Inc. LODE – We’re coming across a serious bottom-bounce candidate in LODE this morning. The stock has been in a general downtrend all year long, and was recently beaten back so severely that a rebound was inevitable. That began yesterday, and now we’re very interested to track the activity and see if we can confirm a sustained reversal on this one.
Taking a look at the included snapshot of the LODE chart, it would quite frankly be a little surprising if this play didn’t see a continued rebound, and it’s currently trading up in the premarket, so we’ll surely want to keep an eye peeled as the session kicks off.
Another notable aspect of this play is that the company must find a way to re-attain a share price of at least a dollar by November, or face delisting from the AMEX.
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MabVax Therapeutics Holdings, Inc. MBVX – Another similar looking chart striking us as a potential bottom-bounce play. MBVX has been trending down since last fall, and it appears as if it’s ready to make a move off of its recently established annual lows, helped along by a key PR.
The company reported positive phase I results for its MVT-2163 ImmunoPET Imaging Agent, an antibody discovery platform focused on the treatment of cancer. (>>View PR) It’s causing a considerable gap-up here in the premarket, and we’ll be quite interested to follow along with the activity.
The Kroger Co. KR – Options Idea
KR set its own 52-week lows this spring, and has recently been making a comeback on the chart. They’ve also got earnings coming tomorrow, so we thought we’d formulate an options idea running into that release.
We’ll be looking at the KR Weekly $29 and $30 Calls, which could see some nice action, especially if the company’s earnings beat expectations tomorrow.
Extended Watchlist:
ABIL, MTBC, MBOT, SBGL, LINU, EKSO