Blue Horseshoe Stocks

Blue Horseshoe Stocks: Prime Setup on CCL

Adverum Biotech, Inc. ADVM

Our first order of business this morning is to review a stock we’ve been watching since the beginning of the spring, and reporting on it each month. Back on April 17th we initially alerted on the stock while it was trading for as little as 5.44 a share. We also did a followup report on it on May 20th as well as one last month, on June 5th.

The stock has essentially been in a solid uptrend the entire time, with its biggest single-session move yet occurring yesterday from 10.15 11.95 to 14.96. It marked an intraday pop of 25% and an increase of 47% over the low following our June 5th mention. The total overall increase we’ve observed since our original alert has been 175%

Carnival Corp. CCL

We ran across the technically attractive setup on Carnival’s chart this morning, and it is currently exhibiting many of the signs we’re after when looking for solid bottom-plays.

Just in the last week, CCL started to come off of being heavily oversold, and the MACD is on the cusp of a bullish cross. Add in the nearly two million dollar pickup by an insider according to a pair of Form-4’s filed last Wednesday, as well as the massive topside gap on the chart, and we are feeling pretty good about CCL as a strong recovery play candidate.

We’re going to radar the CCL 08/02 47-48.50 Calls, which should be in good shape if the stock can approach that gap sometime in the next couple of weeks.

Blue Horseshoe Stocks: Fresh Bottom Plays

New Bottom Plays

While we are in a bit of a drought in terms of big name earnings reports, as tends to happen around a holiday. We’re back for a full, fresh trading week and we thought we’d shift our focus to bottom plays as we kick things off.

Taronis Technologies, Inc. TRNX

TRNX is in precisely the sort of position in which we look for bottom-bounce candidates. The stock saw new lows last week before making its reversal, and stringing together three consecutive positive sessions.

We can also see on the RSI that TRNX is just now coming off of being extremely oversold and the volatility potential suggests that even a 100% move from current pricing would not be out of the realm of possibility. We’ll be keeping an eye peeled here in the days and weeks ahead.

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Rockwell Medical Technologies, Inc. RMTI

RMTI is another possible bottom play with some decent potential and a gap to fill the 200DMA currently sitting at 4.11. Perhaps the upside potential here is not quite of the magnitude of the previously mentioned play, but the indicators may be more ripe in this case.

The MACD is on the precipice of a bullish cross, and the RSI is slowly attempting to come off of being oversold. This may also be a good candidate for a more sustained recovery over the next several sessions.

Extended Watchlist:
TBRG, LPTX, GROW, NAKD, DPW, ITCI

Blue Horseshoe Stocks: Winning Options Review

Acuity Brands, inc. AYI – Options Update

We took the opportunity to jump on some AYI calls following a poor showing from the company’s Q3 financials. We felt that the blow taken by the stock in the previous session was an overreaction, and decided to radar a couple of sets of contracts in the AYI chain to correspond with what we assumed would be a rebound from this burst of overselling,

Our targets were the AYI 07/19 $125-130 Calls. We banked on a course correction to provide us with a push and things turned out just as we hoped they might. The stock traded in a daily range from a low of 129.90 and cruised as high as 136.74. That allowed for some very respectable intraday gain opportunities for us, and we will want to continue to monitor these in the sessions ahead.

The $125 Calls ran from 6.10-11.55 for a daily rip of 89% while the $130’s went from 2.85-7.20, a gain of 153% A full two weeks remain before these contracts expire.

KB Homes KBH – Recap

We also signaled our interest in some KBH calls last Thursday. Since that time, the stock has been slowly creeping upward, and we’ve realized the potential for some very nice moves in our KBH 07/19 $26-27 Calls, which experienced their lows on the morning of our initial alert, and reached new highs yesterday.

The $26 Calls ran from .35-1.05, for an even 200% burst, while the $27’s fared slightly better. Those produced a move from .15-.47, signifying a run of 213%

Extended Watchlist:
ADOM, NAK, HSGX, TSU, CETX

Blue Horseshoe Stocks: Earnings and Bottom Plays

Acuity Brands, inc. AYI – Options Idea

After a lackluster Q3 report, AYI took a gut punch yesterday, but began to recover before the day was through, and appears to want to continue to course-correct today.

We are going to radar the AYI 07/19 $125-130 Calls. Even if this holiday shortened week comes to a predictably quiet close and doesn’t provide a ton of activity, we’ll still have plenty of time to get results before the 19th.

comScore, Inc. SCOR

We’ve found what appears to be a prime bottom-watch candidate in SCOR. The stock is egregiously oversold at the present time, and has managed a couple of positive sessions this week.

The volatility potential on this stock is high. It’s not unreasonable to think that it could return to the $10 level or better over a period of several weeks or perhaps even months. We’ll designate this as a longer-term recovery play.

Extended Watchlist:
TBLT, NAK, ZIOP, FCEL, SNSS, OTLK

Blue Horseshoe Stocks: SPY Keeps Producing

SPY Keeps Winning

Yesterday morning in our premarket report, we had just wrapped up with our recap of Friday’s multi-bag winning SPY Calls, and of course we rolled the dice again. We issued an alert for some fresh SPY ideas, and were rewarded with the chance at some serious intraday gains late in the session.

Of the three contracts in the range of the SPY Weekly $295-296 Calls, it was the $295 and $295.50’s that produced the eye-popping moves. The $295’s traded in a range from .08 to .74, an 825% rip, while the $295.50’s blasted off on a run from .03-.31, for a gain of 933%

Nu Skin Enterprises, Inc. NUS

We’re also interested in putting NUS on watch as a possible longer term, swing trade candidate. The chart is technically attractive, with the stock testing its 50DMA briefly yesterday. The volatility ppotential is there, and it has the makings of what could be a good rebound play.

We’re going to place the NUS 09/28 $50-55 Calls on watch. A break past that 50DMA, even the likes of what occurred toward the beginning of last month, would mean ample opportunity in our designated range.

Extended Watchlist:
CUR, CETX, NGD, DOVA, EROS