Tag: JCP

Bllue Horseshoe Stocks: JCP, RNBI & More

JC Penney Co., Inc. JCP

To kick off the week, we placed JCP on watch via Monday’s Extended Watchlist, so let’s finish things off by taking a look at what happened this week. We saw a consolidation down to 8.18 before the earnings release hit the wires yesterday, after which time the stock began to soar.

Already in pre-market trading today the stock has bounced back to hit a high of 10.15, so we’ll be anxious to see what can happen if the stock can break past this mark which also coincides with a recent swing high in November/December.

The 8-K filed contained both increased quarterly figures as well as guidance for 2014, and things seem to be headed in a positive direction overall, so we’ll continue to monitor JCP over the foreseeable future.

Rainbow International Corp. RNBI

Noticing a sizable increase in volume in RNBI during a routine scan on Wednesday prompted us to put it on yesterday morning’s watchlist, and it turned out to be a beneficial decision. We would see the stock spike from a low of .18 running to .24, giving traders a chance to bank up to 33% intraday.

A stock that was trading by appointment only prior to its big rise in volume this week, gaining this much ground on the chart demands the highest level of caution for those who’ve yet to exit their position.

Added Side Note:

We just want to take a minute to address a cautionary statement by influential hedge fund manager David Tepper yesterday, regarding his overall sentiments toward current market conditions. His warning to traders to avoid going too long at the moment, sent ripples through the investment community, and the overall markets saw a pullback (leading to a spike in the VIX/VXX).

Occurrences such as this can be used to profit no matter which way things go; depending on how the public reaction is going to play out, we will be looking to adjust our strategy by trading options on either the SPY, in the event that things turn back to the bullish side rather quickly, or the VIX, should we see a sustained downturn.

Extended Watchlist:
ZBB, DCIN, KGJI, OVRL, GALE, MSTX, CSTI

Blue Horseshoe Stocks: BFLX, SKYF, OBJE & Extended Watchlist

Bioflamex Corp. BFLX

Over the weekend, we were conducting a search for some momentum plays to monitor this morning, and came across BLFX, a sub-penny stock which has just recently awakened from a relatively dormant period. These types of plays, while highly volatile, have definitely provided us with opportunities in the past.

After breaking a previous resistance level, the 200DMA (.0006), the stock held above that mark on Friday. A heavy influx of buying has come in over the past couple of trading days, and it closed out last week in full-on momo-mode.

Today, we’ll need to see BFLX maintain support above the 200DMA, and crack though the psychological barrier at .001 in order for us to remain interested in this play.

SKY440, Inc. SKYF

In the course of another of our routine weekend scans, we caught wind of another runner. SKYF has had significant momentum building up over the past couple of sessions, so this is going to be one that we want to keep on our watchlist as trading for the week commences.

As we point out on the chart below, all indicators are looking bullish and like the aforementioned play, SKYF is another one that we’ll need to see hold support above the .0006-level to hold our attention.

OBJ Enterprises, Inc. OBJE

We tagged OBJE as a bottom watch play on Friday, and like clockwork, the stock came down to find support at .04, and would subsequently bounce back to .0545, for a 36% positive intraday move.

Today, we’re looking for higher highs and higher lows out of OBJE to confirm a sustained uptrend.

Extended Watchlist:
WCUI. CPST, IDN, CERE, RSH, JCP

Blue Horseshoe Stocks: FLST Update, QTWW Bottom-Watch

Fuelstream, Inc. FLST
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FLST continued to make moves following our midday report yesterday, setting a new daily high of .0098 just prior to the close.

At that mark, from the low we’ve seen (.0037) following our first alert less than a week ago, FLST has gained as much as 164%

We’re looking for FLST to confirm this uptrend by making higher lows and higher highs today; there is resistance in the .01-.013 range.

Quantum Fuel Systems Technologies Worldwide, Inc. QTWW

We’re placing QTWW on bottom-watch today. The stock got absolutely hammered yesterday after the revelation that one of its main competitors (Hexagon Lincoln) has partnered with one of its main clients (Agility Fuel Systems), which accounted for nearly half of the company’s revenue last year.

The lasting effects of such an agreement are as yet unclear, however, our interest is purely in taking advantage of a chart bottom and subsequent rebound. We’ve seen this scenario a hundred times, and with proper timing, quick bounceplay profits are often a possibility.

Options Trading Side Note:

Our tracking of the PBR options chain continues after much recent success. Today we’re eyeballing $14-$15.50 Weekly Calls for short term opportunities over the remainder of the week.

Extended Watchlist:
JCP, PLUG, EXEL, WILN, TRIP, FEYE