A quick spotlight on some of today’s compelling plays & market observations:
Commodity Action
Precious Metals: Gold ETFs the IAU & GLD plus precious metals ETF the DBP testing support.
Gold miners, GDX, broke support yesterday.
Oil: Crude oil ETFs OIL & USO, heading down after breaking support yesterday.
Cocoa: NIB continues up 1.9% today after breaking out yesterday.
Hot Stocks
Israeli biotech Pleuristem (PSTI) up sharply on past few weeks, today gaining over 15% to $3.75. Was recently listed on 4 Tel-Aviv exchanges and is moving peripheral artery disease drug PLX-PAD into PhaseII/III clinical trials. Stock has also made the “failure to deliver stock” list for the past 22 days. Looks like the shorts are getting squeezed!
Covered call play
Ion Geophysical (ION) breaking out of recent consolidation on heavier than normal volume. Stock at $8.91:
Feb 9 Call @ $0.50 gives 6.6% return assigned, 5.6% unassigned
Feb 10 call @ $0.30 gives 15.6% return assigned, 3.4% unassigned
Net resource
OTCmarkets.com shows level II market makers and bid/ask spreads for bulletin board stocks.
Find more indepth info in the daily *Blue Plate Specials*, a compendium of today’s market action from the technical perspective, a part of our Subscriber Services.