Penny Stock Briefing 10.8.10 Seven Mary Three!
HDY ITMN BORN NANO CDII JASO IVAN BIOF GROW TSYS
Wednesday was a total snoozer of a day. I must have fell asleep 8 times staring at charts, real boring. I had some overnight puts on VHC that I closed out for a decent gain and I shorted ABK in late morning action. The ABK trade lasted all day, so long I forgot I had the position! As I was ready to cut it flat, all the sudden it took a baby dive and I bailed. Better than a loss. I will update on Profit.ly over the weekend. However I found out former CHiPs star Larry Wilcox who played Officer John Baker was charged by the SEC for stock fraud. It’s so hard to resist.
Friday morning is jobless claims. Hope it creates some market traffic.
HDY
HDY has been under significant accumulation since September. Lots of speculation about 3D seismic results and drilling sites. When speculators get involved pumpers follow. This company does not make a dive. Reports pf upgraded infrastructure costs of 25 million will leave them near bankruptcy. They almost went bankrupt a while back. What strikes me the most is that the Principal Financial Officer,Jason Davis owns a 100,000 call options payable at $3. That leads me to believe that this is where the stock will go. After that I see a possible dilution happening in order to finance the infrastructure. This is a stock to watch. I will play both directions. I will be doing a video on this for subs
ITMN
Bumped up stock 7% after they announced they sold their Hep C drug danoprevir to Roche for $175 million in cash. Their intent is to use the funds to force the approval of their pirfenidone that treats cases of lung disease.The problem is that the FDA earlier this year denied pirfenidone because it wanted more evidence that the treatment is effective. This stock was once at $48 bucks. This could be a bad move for ITMN. Me thinks a short is working.
BORN
Back with my good friend BORN. I’ve made a lot of money on this stock and maybe I should leave it alone but I cant. BORN has now showed up on an IBD list and that’s what all the fuss was about. However the $30 price target is bogus. I may ride the bull hype and buy this providing it doesn’t gap up $1 or more. If that happens I will short around +$1.50.
NANO
Pulled nicely away from $15 to the low 14’s. Only reason I have this up here is because for the last few days NANO has been giving up all of its a.m. gains. I will be watching to see if this stock can get a lift off and stay up for at least the first half hour. If the report tomorrow is mega bullish I will scratch this off as it’s not a true crapper and probably will run with the market.
CDII
Contract news in the amount of 6.5 mil helped the twerp get a rise today. I remember shorting this stock in January but it was at $2.30. Far away from that now. I hope this news can pump this stock but I doubt it will be as good a January. This company barley gets by. Really want to see some upward momentum otherwise, I doubt I would waste time with a short.
Stocks still in play from previous watch JASO IVAN BIOF GROW TSYS