Today was our best day in many weeks.
* PIRS was up 4% on an upgrade from Roth Capital. It had a record volume day. Kudos to James Evans for finding this opportunity early. We are looking for a swing to $7
* SLTD was up 24% on a pre-announcement of sequential revenue growth of 95%. Trading volume today was 6.2M shares which beat the previous record of 1.8M shares. SLTD also announced a Q2 earnings date of August 6th. This should provide plenty of upside momentum for this stock as it runs into earnings. I recommend selling at least 25% of your position the day before earnings or at prices above $5
* JAKK was up 9% on a $0.05 earnings beat and announcement of company buybacks of it’s shares in recent weeks at $9.01. The conference call today was extremely bullish and analysts were very pleased. Expecting analyst upgrades on this stock shortly and will continue to hold this stock for 1-2 more quarters or until $13-$15 target.
* HOTR was up 12% and closed at the highs of day on moderate volume – perhaps a delayed reaction to two positive catalysts announced in recent days (Just Fresh franchising to commence, and pursuing full buyout of Australia Hooters).
* RGSE was up 3.4% and had it’s highest close since July 13th
On the downside, FXCM announced a 1:10 reverse stock split citing this move necessary to maintain a $1 stock price to stay listed. Given that the stock was at $1.29 when this was announced – it wasn’t surprising that it dove 11.6% on this news. We are removing this as a storytrade but I continue to hold a small position for the long-term.
YHOO and GPRO were down moderately today after earnings. I continue to hold these long-term in my portfolio.
Remember to join us in our free live trading room at 9am EST tomorrow morning.