Watchlist 11/01/2017

Welcome to the 1st day of November and the 7th and deciding game of the World Series starting at 5:20 PDT.

STOCKS IN THIS WATCHLIST ARE NOT GEARED TOWARDS ANY SPECIFIC TYPE OF TRADING (DAY, SWING, LONG).  HOWEVER, THEY ARE EITHER TRENDING TOWARDS A BULLISH TECHNICAL CHART OR CURRENTLY IN ONE.  ANY TECHNICAL ANALYSIS IS PROVIDED IN THE ACCOMPANYING CHART.  PLEASE DO YOUR OWN DUE DILIGENCE BEFORE INVESTING IN THESE STOCKS. (The Shares Float is based on figures from FinViz.Com or wsj.com).

Stocks highlighted in this watchlist include: $HMNY, $TWMJF, $NVAX

HMNY:  I alerted this stock on Tuesday 5 minutes before the market closed and advised an overnight hold.  Float of 5.85 million shares with 29.74% short.  

Helios acquired a stake in MoviePass back on Aug. 15 (it currently has a 53.7 percent stake), and the stock went on a tear just weeks later. The stock surged from as low as $2.42 on mid-September to as high as $38.86 by mid-October. Since that peak, the stock has come back down to earth, and on Tuesday, it closed at $10.62 and above it MA(50) after a brief dip below on Monday.  After hours, it was up another 5.5%.  I'm looking for a continuing squeeze up to $13 before re-evaluating.

 

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TWMJF: I see this stock going higher (no pun intended) over the next 2-3 days.  It has a float of 112.37 million shares and was on my Tuesday watchlist too.  Tuesday closed up 5.6% but the high of the day was up by 11.6%.  Momentum came back during the final hour.  

NEWS:  Constellation Brands Inc., a Fortune 500 company announced previously that it's investing $245 million (in Canadian dollars) to buy a 9.9% stake in Canopy Growth Corporation (TWMJF).  Canopy  Growth is a leading medical marijuana provider in Canada.  Today, according to the Wall Street Journal, the two companies plan to work together to develop and market beverages that will be infused with Cannabis.  Canadian prime minister Justin Trudeau is pressing  ahead with plans to legalize recreational use of the drug in July 2018.

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NVAX: A large float of 280 million shares but it has a high 16% short interest.  Novavax announced on Tuesday that it will be Hosting a  Conference Call to Discuss Third Quarter 2017 Financial Results on November 7, 2017.

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