Through the stock market volatility we’ve seen in 2020, one sector seemingly remains unstoppable.
In fact, just yesterday I noticed a bull go long $880,000 worth of this stock!
Last week I made +176% trading it long and short…
| Ticker Code | Ticker Name | Ticker Industry | Price Change | Average Volume (50)* |
| INO | Inovio Pharmaceuticals Inc | Biotechnology | 47.49% | 37,230,152 |
| NVAX | Novavax, Inc. | Biotechnology | 76.16% | 10,463,397 |
| MVIS | Microvision, Inc. | Scientific & Technical Instruments | 81.11% | 40,179,245 |
| JCP | J C Penney Company Inc | Department Stores | -100.00% | 37,921,572 |
| RTTR | Ritter Pharmaceuticals Inc | Biotechnology | 57.81% | 20,301,190 |
| STCN | Steel Connect Inc | Integrated Freight & Logistics | -63.04% | 403,637 |
| VISL | Vislink Technologies Inc | Communication Equipment | 37.93% | 33,020,802 |
| OPGN | OpGen Inc | Diagnostics & Research | -30.10% | 768,193 |
| KTOV | KITOV PHARMA LT/S ADR | Biotechnology | 46.55% | 15,685,578 |
| SCYX | SCYNEXIS Inc | Drug Manufacturers – Specialty & Generic | 1.27% | 1,298,747 |
| ONTX | Onconova Therapeutics Inc | Biotechnology | 18.92% | 6,507,646 |
| AYTU | Aytu Bioscience Inc | Biotechnology | 3.23% | 19,105,194 |
| GNPX | Genprex Inc | Biotechnology | 22.44% | 3,580,460 |
| NAKD | Naked Brand Group Ltd | Apparel Manufacturing | 18.18% | 2,280,951 |
| BLIN | Bridgeline Digital Inc | Software – Infrastructure | 59.39% | 1,651,726 |
| CYCC | Cyclacel Pharmaceuticals Inc | Biotechnology | -87.14% | 1,331,749 |
| FCEL | FuelCell Energy Inc | Electrical Equipment & Parts | 20.94% | 8,207,517 |
| CDEV | Centennial Resource Development Inc | Oil & Gas E&P | 72.92% | 23,422,839 |
| SAVA | Cassava Sciences Inc | Biotechnology | -78.70% | 2,678,601 |
| CHFS | CHF Solutions Inc | Medical Devices | -25.71% | 3,949,152 |
As we progress through the coronavirus pandemic, there’s one factor which many see as essential to reopening the economy in full and getting back to life as we used to know it.
A coronavirus vaccine.
Said vaccine would likely be produced, tested, and brought to market in mass quantities by at least one biotechnology company, and therefore, biotechnology stocks have been soaring year-to-date.
While I’m not the biggest fan of Inovio Pharmaceuticals’ (NYSE: INO) management, the stock itself is up almost 500% year-to-date, and yesterday I saw a $880,000 call option buyer take a bullish play on INO…
That’s a lot of money, and it makes me ask myself a couple questions…
“Could INO be releasing a statement that they have a vaccine available – or are sizable short sellers going to cover their positions and simply take the losses in the near future?”
Nothing is for certain as of right now… but an $880,000 bullish bet on a fairly small company at least gives me a strong hint that I want to be looking at this stock’s price action today.
In the short term, and as indicated by the chart above, INO has established support at $14/share. In addition to watching “sweeps” (I’ll be providing an explanation of sweeps in the near future) on INO, which is how I spotted an $880,000 bull buy into yesterday, I’ll be watching $14/share as a long or short base.
Above $14/share, and I’ll likely day trade a bullish position on INO, and plan to pay myself by the end of the day.
That said, markets made a huge upside move yesterday, and excessive profit taking at the open may lead to a retreat in broader markets.
If a pullback happens and INO trades below $14/share as a result, I’ll consider making a bearish trade on INO, and paying myself by the end of the day.
Yours for TrackStar trading,
Davis Martin
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.