Avanir Pharmaceuticals, Inc. AVNR
We included AVNR in our extended watchlist yesterday and we were glad that we did. The company released an announcement concerning the positive clinical trials of its drug “AVP-923” which is used to treat Alzheimer’s >>Read The Release and what followed was one heck of a bullish session.
The stock saw an early low of 9.32, and steadily pushed its way up all session long, with the high of 13.09 coming just prior to the close. That mark represented a solid 40% intraday gain, as well as a new 52-week high! The amount of volume traded was also impressive, on the order of more than 89M shares, an annual record and more than 25X the three-month average, so we really like the timing of our alert on AVNR.
AVNR provides another good example of why we always remind our subscribers to check through our daily extended watchlist selections thoroughly, as hidden gems like this one tend to pop up with surprising regularity.
Sino-Global Shipping America Ltd. SINO
SINO began to run when the company released financials that included some significant highlights just prior to the close yesterday, and the stock is gapping up heavily this morning for what should be an interesting session.
Generally in these instances we’ll be on the lookout for the phenomenon we refer to as the dip-and-rip. Stockholders see the huge run, and the resultant profit-taking usually leads to a subsequent pullback. That’s where we’re waiting to catch the bounce and snipe some rapid profits.
FreeSeas Inc. FREE
FREE made its way down to a new 52-week low of .29 yesterday and could be in prime position for a possible bounceplay. This morning, the company has revealed that it has concluded the sale of one of its vessels for $12.25M and entered into a long-term charter with the new owners >> View PR
FREE is gapping up as a result and provided that the stock can break through resistance at roughly .45 which we’ve pointed out on the following chart, things could get very interesting.
Options Trading Ideas
We’ve got a couple of possibilities we’re looking at in the options arena today as well:
– RWLK $38-$40 Calls
– PBR $16.50 & $17 Calls
Extended Watchlist:
GRT, NWBO, DNDN, MSTX, STRI