Tag: AXN

Blue Horseshoe Stocks: SNTA Recap, Options & More

Synta Pharmaceuticals Corp. SNTA

After catching a PR containing some big merger news for SNTA yesterday morning, we decided to include the stock in our premarket report, and it turned out to be a good decision.

On just under 12X the 3-month average trading volume, SNTA ran from a daily low of .32 up to .45 inside of the first 90 minutes of the session. That registered as a respectable intraday spike of 41% As measured to this morning’s premarket high of .488, that figure is extended to 53%

We’ll have our eyes peeled for another push this morning. The type of volume that we witnessed yesterday coupled with the stock holding more than 50% of its daily gains, puts SNTA into the category of a possible momentum play.

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Bonus Pharma Watchlist:

We are also going to be monitoring the activity in a couple of other pharma stocks in coming sessions:  Aoxing Pharmaceutical Co., Inc. AXN and Eleven Biotherapeutics, Inc. EBIO

EBIO is reportedly another reverse-merger candidate that caught a wave of momentum on the heels of yesterday’s big news, and AXN is showing a double-bottom signal and has been making headway trading up off of its lows for the past few sessions. We’ll want to monitor both of these plays into next week.

SPDR S&P 500 ETF (SPY) – Fresh Options Idea

It wouldn’t be a typical Friday without a end-of-week options idea, so we’re going to turn to one of our classic targets- the SPY. Here in the premarket we’ve observed a low of 207.58. How we’ll want to play it is this: Should the SPY maintain support at 207.50 or above on any early pullbacks, we’re going to be interested in the Weekly $207.50-208 Calls. In the event it fails to hold support a that point, we’ll look to the Weekly $208-207.50 Puts.

*CAUTION: Trading weekly options on Friday is commonly a very high risk proposition. To be attempted by advanced traders only!

Extended Watchlist:
SUNE, LNCO, LINE, VSLR, EBIX, DRWI, AXPW(Bottom-Watcher)

Blue Horseshoe Stocks: AXN, JDST Recaps & More


Aoxing Pharmaceutical Co. Inc. AXN

AXN emerged as one of the day’s most interesting plays following its inclusion in Friday morning’s premarket report. After briefly touching an early morning low of 1.15, the stock would go on to register a subsequent high of 1.63.

That works out to an intraday increase of 42%, and it came on roughly fourteen times the three-month average volume.

After a fairly strong close (1.49) in which the stock held well over half of its daily gains, AXN appears to be gapping up slightly this morning, having risen back into the 1.50’s. This type of activity is characteristic of a classic “momo play”, so we’ll have an eye peeled for AXN as things kick off today to watch for a possible continuation of that momentum.

Pervasip Corp. PVSP

When PVSP appeared in one of our daily reports in late January, we referred to it as a super-subpenny ‘bottom-bouncer’, and it has held to that description in the truest sense over the past several weeks. Less than two weeks ago, the stock was trading at the lowest possible increment (.0001), and toward the end of last week it began to ramp its way up.

On Friday, there was a Golden Cross of the 50DMA over the 200DMA, and PVSP traded as high as .0009, which marks a rapid jump of 800% over our recently observed low. In order for us to remain interested in this play, it will need to maintain support at or above .0005 on any pullbacks.

Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST)

JDST made a modest yet notable move on Friday as well., This one also appeared on our extended watchlist, and we were pleased with its steady uptrend that lasted  throughout most of the morning.

From an initial low of 11.40, the stock pushed its way to 12.60, a gain of 12%

Being a gold miners bear ETF, JDST saw this increase as the release of healthy jobs numbers and the Dollar at an 11-year high coincided closely with gold nearing a three-month low.

Extended Watchlist:
GEVO, AVEO, LBIO, OPXA, CTIC

Blue Horseshoe Stocks: New Options Idea & More

Vivint Solar, Inc. VSLR – Options Idea

VSLR caught our eye yesterday as the stock made considerable progress in coming off of a recent bottom, aided by Q4 financials announced Wednesday, post-market which came in better-than-expected.

In the midst of this rebound, we’ll be looking to possibly take advantage via the options chain. Currently, we’re interested in following the activity on the April 17th $11 Calls (Last Trade:1.30).

VSLR has a 1-year analyst estimated price target of 19.80, and is presently trading well below that range, thus it could turn out to be a stock that we continue to track over an extended period of time.

AVEO Pharmaceuticals, Inc. AVEO

We’re watching AVEO this morning; the stock broke above its 200DMA earlier this week and has been holding support above that level. Yesterday it underwent a gap-and-fade, ultimately finding support at 1.36. and that’s the level we’ll want to see it maintain on any further pullbacks today.

The main thing drawing our attention toward AVEO is the current chart setup.As you can see on the snapshot below, it is showing a strong RSI, a bullish MACD, and appears to be building toward an elusive Golden Cross; a relatively rare event for which we’re always keeping our eyes peeled.

Extended Watchlist:
ASTI, JDST, CRMD, MSO, AXN, GALE

Blue Horseshoe Stocks: BIOC, Options Ideas & More


Biocept, Inc. BIOC
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BIOC came off of yesterday morning’s extended watchlist making a big move to start the week. The stock traded up from a low of 1.71 and ran as high as 2.95, registering as an intraday increase of 72%  on heavy volume in the neighborhood of 17X the 30-day running average.

After pulling back slightly into the close at 2.20, BIOC is presently gapping up in the premarket this morning( High of 2.64), so we’re going to keep it on our watchlist for the time being.

The strong session came in conjunction with a positive PR which hit the wires yesterday:

SAN DIEGO, Feb 23, 2015 (GLOBE NEWSWIRE via COMTEX) — Biocept, Inc. (Nasdaq:BIOC), a molecular oncology diagnostics company specializing in biomarker analysis of cell-free circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs), today announced that its blood-based diagnostic, OncoCEE-BR(TM), was used to determine hormonal status of metastatic breast cancer patients in a prospective study performed at the Columbia University College of Physicians and Surgeons in New York City. Findings from the Columbia study were recently published in the peer-reviewed journal Clinical and Translational Oncology.>>> FULL PR

Direxion Daily Russia Bear 3X ETF (RUSS)

The idea we brought forth yesterday of monitoring RUSS, which trades inversely with the Russian economy, is probably going to be one that we follow for a longer period of time given the drawn out nature of the events currently playing out in the Ukraine, and how they’re affecting Russia.

That being said, we did see some immediate upward price action as RUSS ran into the close, recording a daily trading range from 12.58 – 13.74, a modest, yet solid 9% appreciation on the day.

Added Note:

We also want to make note of a proposed joint venture in the works between two companies whose stocks we’ve mentioned in the past: First Solar, Inc. FSLR and SunPower Corp. SPWR. Both stocks began to move on word of a possible IPO for a new vehicle to be comprised of existing assets from each party. We’re going to keep them on watch as we await further updates on the situation.

They’re both gapping up further this morning, so we’ll be on the lookout for potential dip-and-rip scenarios caused by profit-taking. In such an event, we’ll be fixating on In-the-money Weekly Calls for options daytrading possibilities.

TEMPE, Ariz. and SAN JOSE, Calif., Feb. 23, 2015 /PRNewswire/ — First Solar, Inc. (FSLR) and SunPower Corp. (SPWR) announced today that they are in advanced negotiations to form a joint YieldCo vehicle (the YieldCo) to which they each expect to contribute a portfolio of selected solar generation assets from their existing portfolio of assets. Upon the execution of a master formation agreement, the parties intend to file a registration statement with the Securities and Exchange Commission (the SEC) for an initial public offering of limited partner interests in the YieldCo (the IPO). >>> FULL PR

Extended Watchlist:
CAPN, EYES, CYTX, CHGG, AXN

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