The SPY, DIA, and IWM have all set record highs and look today as though they may hold them although I would expect a pullback on the former two. Gold is still testing support and oil pulled back slightly from the breakout point.
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3 Day Trades Available
IDRA- $3.42M last traded, rel vol 1.95, Biotech, 126M float, 6.51% short @ ratio 8.73, IO 1%,PM news today that they will present on the 8th with a corporate overview and update, news on the 27th that they released positive data for one of their drugs meeting all objectives in early stage trial, seems to be the same news from the 24th when they released the data in a presentation. Just broke out of its 200DSMA yesterday and is closing in on $2 which seems to be strong resistance. A break there should allow this to reach 2.30 within 3 days. This wouldn’t be safe to buy before $2 and the window is small for me so not sure I will play this unless the break is very convincing.
INFI-$10.2M last traded, rel vol 3.24, Biotech, 48.64M float, 5.65% short @ ratio 2.62, IO 1.1%, released date for earnings on the 28th set for March 14th, news on the 27ths that they will be presenting on the 6th. Volume on the daily could be better. This is currently mid-gap and approaching $3. I don’t think it will break $3 but if it does and pulls back to hold it as support, It should be a good swing to 3.75 provided it can be sold before earnings are released.
VRML- $629K last traded, rel vol 2.57, Diagnostic Substances, 33.43M float, .91% short @ ratio 2.6, IO 14%, several insider buys in February, AH news yesterday that they got a contract with BCBS in Michigan. They sold $5.6M in shares on the 14th priced at market levels, looks like it was all purchased by insiders. This is up about 50% since the insiders started buying. I think this will pull back. If it manages to hold 2.50 as support it could be a decent swing to $3 but needs more volume.
SXE-$1.95M last traded, rel vol 2.21, Gas Utilities, 10.27M float, 1.4% short @ ratio .54, IO .5%, SEC filing on the 27th that the president and CEO stepped down (which was announced on the 9th) and provided he does not violate their agreement, will be getting a severance payment which seems to be in the amount of $100k. Needs more volume.
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