Linn Co. LNCO & Linn Energy LINE
We often include this related pair together and have mentioned them several times in past reports. Most recently was a week ago today, when we called attention to the fact that their [nearly identical] charts were trading at a relative bottom and looking ripe for a rebound. It didn’t take long for our expectations to come to fruition, with both stocks posting solid performances during yesterday’s session.
LNCO ran from .355-.515 for a move equaling 45%, while LINE did slightly better with a run from .32-.50, representing a 56% intraday upswing.
Rex Energy Corp. REXX
We took notice of the momentum that had built up in REXX yesterday, leading us to include a mention of it in our premarket report. We liked its chances of continuing the pattern it had established on the heels of a purchase agreement announcement, and that’s just what it did.
From a morning low of 1.03 we witnessed REXX run as high as 1.44 shortly after 1PM. That registers as an intraday pop of 40% We’ll continue to keep an eye on this play provided it can maintain support above a dollar on any pullbacks.
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Added Note: GEVO was another one from yesterday’s report to trade solidly in the morning and early afternoon. The stock made a relatively small 20% intraday move from .25-.30. It’s still hovering around that high early on today, so we’ll be leaving GEVO on our radars also, for the time being.
Oil-Related Plays
We also wanted to remind our readers of the plays we’ve been tracking recently that are tied to big oil:
VelocityShares 3x Long Crude Oil ETN – UWTI
Petroleo Brasiliero SA (Petrobras) PBR
Both have been putting up solid performances with oil having been on a bullish tear in recent sessions. It appears as if many oil stocks are gapping up in the premarket, so we’ll be interested to follow the resultant action in our own oil-related interests. In the case of Petrobras, we want to go ahead and signal a possible options idea: We’ll be looking at observing PBR Weekly $6 & $6.50 Calls over the remainder of the week.
Strikeforce Technologies, Inc. SFOR – Recap
We also want to take a second to comment on the early move made by another of our recent items of interest, SFOR. In the video chart we published, we mentioned needing to see it hold above a specific support level and it managed to do so for the first part of the session. The stock caught a bounce off of the .0026 level and ran 62% intraday to .0042.
That daily high represented an overall new high for us as well. We’ve now seen a total jump of 500% over our observed low of .0007 from the day of our initial alert on March 31st.
Extended Watchlist:
MDVN, GSS, SDOC, AGTK, TALK, KGNX(Bottom-bouncer)
