Blue Horseshoe Stocks: SPY Calls, Bottom Bouncers & More

Fresh Options Idea

SPDR S&P 500 ETF (SPY) – The SPY is one of our favorite funds to take advantage of when market conditions permit, and based on the general atmosphere this morning after crude oil’s impressive rally yesterday, we definitely want to signal a range of contracts for tracking.

We’re specifically looking for the heaviest activity to fall within the SPY Weekly $187-191 Calls*, with the SPY trading in the $189-range here in the premarket. If we do see a dip to start the day, we’ll need the subsequent bounce to occur above that $187-level for this idea to remain valid.

*Don’t forget that trading weekly options contracts on a Friday is an inherently risky proposition, as they are on the verge of expiration. It can, however, be a chance for experienced traders to take advantage as premiums dissipate and volatility increases. 

Decision Diagnostics Corp. DECN

DECN was included in our pool of interests from yesterday’s premarket report, and the stock went on to put up a respectable performance.

From a low of .15, DECN ran as high as .24 for potential intraday gains of up to 60% and the move happened with the aid of roughly nine times the monthly average volume.

TubeMogul, Inc.  TUBE

There have been a couple of events that have TUBE flirting with new relative lows this week. A nominal amount of insider selling seems to have coincided with some  third-party content in its news feed casting the stock in a disparaging light.

Events like these awaken the bargain hunters within us. The stock is approaching previous levels of support as we’ve pointed out on the chart below, so we’ll be monitoring for a possible reversal to occur in that channel in forthcoming sessions.

Synergy Resources Corp. SYRG

We’ve noticed SYRG trending up off of its own recent bottom over the past couple of sessions, and we like the overall look of the chart and the strength building therein. We’re looking for this stock to record higher highs and higher lows and continue to build momentum.

Extended Watchlist:

Blue Horseshoe Stocks: RSH & More

RadioShack Corp. RSH

As most of our regular readers will remember, we tagged RSH as a bottom-play a few weeks ago after noticing that the stock had hit a 52-week low of .55 and was showing signs of a possible turnaround on the chart. It took one more dip back to .55 before that started to happen, but as it turns out we called the bottom quite well.

Over the past several sessions the stock has been exhibiting sure signs of an uptrend, and yesterday RSH really began to break out nicely, heading all the way back to a high of .8941, a solid 62% increase off of our observed low.

That run broke two key resistance areas at .74 and .79, which we’ll want to see hold as support moving forward, and the next key resistance is going to come in roughly around 1.05. Already in the premarket we’ve seen RSH trading as high 1.03.

Vicon Industries, Inc. VII

VII appeared in yesterday’s Extended Watchlist just in time for us to catch a really nice move. The stock traded in a range from 3.84 – 5.30 during yesterday’s session, marking possible gains of up to 38%

The run came on over 4.9M shares traded, exceeding the average monthly volume by more than 26x.

Digital Ally, Inc. DGLY

DGLY pushed its upper limits again yesterday, for the fourth straight session since we caught this stock last Thursday at low of 5.75.

We’ve now seen a move to 16.24, which represents a total increase of 191% in less than a week, so congratulations are in order for any traders who were able to take advantage of this mover!

Extended Watchlist: