Reviewing Recent Runners, Fresh Ideas

Elray Resources, Inc. ELRA – OTC Recap:

We caught sight of ELRA midway through last week, and noticed that the stock had been experiencing a marked rise in volume and liquidity. As a result, we placed it on our daily watchlists in our premarket reports Thursday and Friday morning.

ELRA continued to build on its momentum, recording a considerable two session run from our vantage point. From Thursday’s low of .0023, it reached .0049 on Friday, which represents a 113% increase. With the ongoing momentum buildup it has exhibited over the past several sessions, we’ll want to keep an eye on it as we kick off a new trading week.


Friday’s Options Runners:

On Friday morning, we reported the gains in our PYPL options idea from Thursday’s report, the PYPL Weekly $255-260 Calls. We mentioned that we expected to see even more gains added to those figures based on its premarket activity, and that assumption proved accurate.

Below are the total two-day swings recorded by those contract sets, as well as Friday’s numbers on the two runners from our fresh ideas, the ROKU Weekly $307.50-315 Calls and SQ Weekly $227.50-235 Calls:

PYPL Weekly $255-260 Calls
$255: 
.64-3.85 (+501%)
$257.50: .38-2.00 (+426%)
$260: .23-1.20 (+422%)
_____

ROKU Weekly $307.50-315 Calls
$307.50:
 14.72-26.10 (+77%)
$310: 12.46-25.53 (+105%)
$312.50: 11.38-21.68 (+91%)
$315: 2.18-5.05 (+132%)
_____

SQ Weekly $227.50-235 Calls 
$227.50: 4.25-8.28 (+95%)
$230: 2.10-6.37 (+203%)
$232.50: .65-3.80 (+485%)
$235: .18-1.64 (+811%)


Fresh Options Ideas: 
BNTX Weekly $195-197.50 Calls
TSN Weekly $79-79.50 Calls


Extended Watchlist:
EEGI, BFRAF, RGBP, AABB, CBYI, OTTV, AEXE, IFAN, GNCP, DSCR

Blue Horseshoe Stocks: Double-Bottom Watchlist & More

Double-Bottom Watchlist

We like to look for potential rebound plays in stocks that are displaying a double bottom formation on the chart, and we’ve got three such candidate to add to a recovery watchlist this morning.

InVivo Therapeutics Holding Corp. NVIV, Stein Mart,Inc. SMRT, and Sportsman’s Warehouse Holdings, Inc. SPWH have all begun to trend off of a level of support that has been established on one or more previous occasions. We’ll want to monitor this trio in the days and weeks ahead for possible sustained recoveries.




StarBucks Corp. SBUX – Options Idea

Shares of SBUX really came crashing down this morning, all the way to the $55-level, the lowest PPS since March. We’ll be looking to take advantage of a possible forthcoming rebound when the smoke clears.

SBUX has demonstrated solid support in the $54-area earlier this year, so we’ll look for it to hold there or above on this plummet that comes even as analysts are reporting a good outlook.

Once a rebound begins to materialize, we could see some noteworthy activity in the SBUX 08/18 $54-55 Calls.


Extended Watchlist:
UHLN, BVTK, CLDX, OTTV, JAGX, KOOL, IMGN,

Blue Horseshoe Stocks: CGI Recap & More

Celadon Group Inc. CGI

Our first order of business this morning is to swing back around for a stock that we signaled our interest in back in May, which has subsequently gone on to put together a fantastic run up the chart.

When we tagged CGI on May 9th, the stock had recently fallen off of a cliff, and was attempting to recover off of its newly established lows. We observed a low PPS of 1.90 just a couple of sessions later, and that preceded one heck of a recovery. Yesterday, CGI streaked to new highs, coming up as the #4 top gainer on the NASDAQ, and reaching 5.15. That works out to a total increase of 171%

Having now recovered all of the ground it lost in early May, the chart still appears strong, and the next key resistance point we’ll look to see CGI make a run at is the current 200DMA of 5.95.


Options Ideas
We mentioned in the previous report that there would be a growing number of possible options trading opportunities as we neared the end of the week. This morning we’re looking at Facebook, Inc. FB, which reported yesterday post-market, and Anheuser-Busch InBev SA/NV (BUD), reporting this morning.

Each of them had beats, and are gapping up in the premarket. We’ll be monitoring the FB Weekly $172.50-180 Calls and the
BUD Weekly $120 & 125 Calls.


InfoSonics Corp. IFON

We also want to quickly recap the solid performance of IFON, which we tagged yesterday morning as a possible bottom bounce play, after seeing it test it 50 and 200DMA’s the previous day. The stock responded with another nice move from  .562 to .84, an intraday push of 49% on big time volume.

We’ll look for the establishment of higher lows and higher highs and for the stock to maintain its multi-day runner status, and for a break of resistance in the channel between yesterday’s swing high and a swing high back in April at 1.04.


Extended Watchlist:
OTTV, ABHI, SHOR, IDXG, CAPR, TOO, AXTI, TROV