Blue Horseshoe Stocks: Cannabis News Play & More

Stereo Vision Entertainment SVSN

We had SVSN hit our scanner this morning after we noticed an interesting PR coming across the wires. We’re always looking for new interests in the cannabis space, and SVSN fits that bill. Unlike many of the companies in the business conduct their activities primarily in the western states, SVSN has an operation in Florida.

The company just announced a February 1, 2018 Grand Opening of its majority owned subsidiary CannaVision’s Bay Pines medical cannabis and holistic pain management clinic in St Petersburg, Florida. (>>View PR)

We’ll be interested to track the progress of this new facility, and SVSN stock itself going forward.


SPDR S&P 500 ETF (SPY)

We also want to throw in a quick options idea for the SPY, which despite a momentary hiccup in its week’s-long bullish trend yesterday, looks to be gapping up and ready to get back on track today. There are a set of contracts expiring today that we want to radar: the SPY 01/17 $277.50-279 Calls*.

Please be aware that contracts approaching expiration are subject to evaporating premiums due to time decay, so these are quick-strike opportunities only. We’ll be looking for the classic early dip and rip pattern, which should present those chances for intraday flips.

*Be aware that this idea is extremely high risk, and for advanced level traders only!


Extended Watchlist:
TVPC, DDD, MITK, ADAP, ARGS, IOVA

Blue Horseshoe Stocks: Bearish Options Idea & More

Abercrombie & Fitch Co. ANF – Options Idea

After noticing this morning’s earnings release from ANF, which included a big shortfall on expected sales as well as guidance for the remainder of the year, we may be interested in taking a bearish stance and using the current sentiment to our advantage with a series of puts.

We’re going to place ANF Weekly $22-19.50 Puts on watch as the stock is gapping down more than ten percent in premarket trading. If a large selloff continues to persist, we could be looking at some serious action in these contracts.

As long as the stock doesn’t recover past this morning’s premarket high of 22.95 once the session commences, this idea will remain in play.


Axiom Corp. AXMM

We’ve got an interesting chart setup on this subpenny stock that is sufficient to warrant tagging the play for observation. In addition to forming a fairly strong ascending triangle pattern, there are a number of other bullish attributes of which to take note.

As we’ve pointed out on the following snapshot, AXMM’s coming off of being oversold, and we’re going to want to see that RSI surpass the 50-line. Meanwhile the MACD just underwent a bullish cross, and if we can see a breach of the .0029-mark, there’s little in the way of resistance until you hit .0055, which would also represent a breach of the current 50DMA.


Extended Watchlist:
ADMD, CHRO, DPSI, TVPC, VRME,