Month: June 2016

Blue Horseshoe Stocks: Bottom-Play, Options & More

Adaptive Medias, Inc. ADTM

To kick things off on a fresh trading week this morning, we’re going to return to ADTM, a stock we’ve been familiar with in the past. We want to approach this play as a bottom-watch candidate. The stock has been in a general downtrend for the better part of four months, and just recently had been bashed back to a new 52-week low last week.

The stock has fallen, in just a short period of time, down into subpenny territory from prices of more than a dime a share just a couple of weeks ago. We’re always intrigued when a stock undergoes such a rapid sell-off, because in many instances, it leads to a serious rebound-play opportunity.

Should we be able to properly time the bottom, the potential rewards would be staggering if the stock managed to regain even half of its recent lost ground from current pricing. We’ll be sure to watch closely for that possibility.

Bank of America Corp. BAC – Options Idea

Sometimes, when searching for trading opportunities, the best way to identify items of significance is to follow the money. In the case of this morning, we’ve noticed an exceedingly high amount of open interest in BAC Calls, and are going to be looking to signal some longer-term contracts for monitoring in sessions to come.

Our highlighted targets in this instance are going to the BAC 07/15 $15 & 15.50 Calls. With such an extended expiration, it’s going to give us plenty of time to see BAC stock begin to approach that $15-mark again, and if/when it does, the gains in these contracts should prove to be quite significant.

Extended Watchlist:
BCCI, ONCI, QLTS, QUTR, GRSU, AMRS

Blue Horseshoe Stocks: Reviewing IMMU, EBIO & More

Immunomedics, Inc. IMMU

We began tracking IMMU last month, mentioning it for the first time on May 13th, and then again in a followup on the 20th. Our timeliness in bringing what was already a steady climber to the table, as you can plainly see on the chart below.

It’s been a solid few weeks for the stock since that time. It has risen from our observed low of 3.59 to a new high of 5.44 yesterday, marking a solid 52% PPS increase in just a short time. We can also see that the volume has been steadily creeping up as well.

The last time the stock was this overbought, we saw a leveling out but not much of a consolidation. We’ll look for a similar phenomenon to occur from this point forward, and for IMMU to ultimately continue its general uptrend until we see evidence to the contrary.

Eleven Biotherapeutics, Inc. EBIO

Speaking of plays we called last month that have enjoyed extended moves up, we’ve also got on update on EBIO this morning. We tagged this stock for observation in the first week of May, and would catch it trading at a low of .80.

From there it’s been a fairly steady climb, and yesterday it too shot to new highs. As of yesterday’s top mark of 2.10, we’d witnessed a one-month rise of 163% as the stock temporarily cracked through the 200DMA. We’ll look for it to hold support at or above previous resistance in the 1.70 area on any pullbacks.

Fresh Options Idea

For a closing idea on this short week, we’ve taken notice of the chart on iShares Silver Trust SLV. It’s gapping up moderately in the premarket this morning after recently bouncing off of its lowest price in a couple of months.

Accordingly, today we’re going to look to possibly take advantage of the activity in the SLV $15-16 Weekly Calls* for intraday flip opportunities.
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*Caution: As always, heed our caution with regard to trading options contracts with a weekly expiration on Friday. It’s something only to be attempted by advanced traders!

Extended Watchlist:
GDSI, SNST, SIGA SAND, AUY, USLV

Blue Horseshoe Stocks: HERO, Options Update & More

Hercules Offshore, Inc. HERO

We had HERO figured for a bottom-watch play, and began mentioning the stock a couple of weeks ago for the first time since last summer. After seeing a significant gap-down to start the week, the stock has responded by posting a couple green candles on the chart.

HERO is trending off of a multiple bottom, and is now going to be on our list as a potential momentum play. From the included chart below you can plainly see the kind of volatile swings the stock is capable of making. We’ll be on the lookout for it to first fill in that gap, followed by a breach of the 200DMA. Should that occur, we could see another series of gains resembling those from February and March.

Computer Sciences Corp. CSC – Options Update

Next we want to update our readers on an extended-term options idea we submitted last Wednesday. Despite already seeing significant intraweek moves from contracts within our highlighted range of CSC 06/17 $44-48 Calls, yesterday brought along further opportunities. The gains perhaps weren’t of the magnitude that we’re accustomed to seeing in many of our options plays, but they were solid chances for profits nonetheless:

$45 Calls – Range: 3.20-4.20 – Max Gain: 31%
$47 Calls – Range: 1.65-2.80 – Max Gain: 70%
$48 Calls – Range: 1.25-2.20 – Max Gain: 76%

CafePress, Inc. PRSS

Lastly, another quick idea to add to the mix in PRSS. Aside from the chart being technically attractive, trading near relative lows at a double-bottom, we’re also interested in PRSS for the Form-4 that was filed last week showing a major investor picking up a sizable chunk to add to his position (>>View Filing). We’re going to add this to our own working watchlist and observe it closely in sessions to come.

Extended Watchlist:
TDCP, AJBI, GTHP, GOVX, IMUC