Sep 10, 2010 8:47 AM PDT
If the name Trico Marine Services Inc (NASDAQ:TRMA) rings a bell, it may be because I put this small cap stock under a bullish light back on June 14th. It was trading at $0.71 then, and had just perked up after a long slumber, hence my interest. Now it's at $0.94, and actually looks even more sound than it did then, hence my bullish reiteration today.
As of today, TRMA shares have crossed back above their 50-day line (purple) as well. Though we've seen such crosses before - to no bullish avail - this one's different in that it started out slow and methodical, and never tip-toed into overbought territory. Translation? There's actually some meat left on the bone with Trico Marine Services. In fact, there's a lot of room for it to run. I don't see any major headwinds until at least the $3.48 area. Let's use that as our first mental target.
----------------------------------------------------------------------
Sign-Up for Free to Receive Future Commentary
and Trading Alerts on CIE, ANX, and TRMA.
----------------------------------------------------------------------
ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX) is not ready for primetime yet, but boy is it close. This small cap biopharma name went back into recovery mode in mid-July, by crossing back above the 20-day line blue with a high-volume shove. It looked like the 50-day line (purple) was going to halt the advance dead in its tracks (and it did, for a while). Today though - even if just barely - we're seeing ANX trade above that 50-day average line.
That said, I'm still not totally convinced ADVENTRX Pharmaceuticals is a safe enough buy. If it can get above the horizontal ceiling (black) right around $2.00, then I think it's time to get in. Keep it close though, 'cause that could happen as early as today.
While I'm bullish on Cobalt International Energy, Inc. (NYSE:CIE), I also don't want there to be any misunderstanding - this small cap company isn't expected to be profitable this year or next. As such, even though there's potential long-term upside for the stock, this isn't to be treated as an investment.... it's a trade.
In any case, CIE has made that nice and slow U-shaped pattern over the last two months.... the kind that usually is seen in front of a big move higher. Though there's very little trading history for Cobalt International Energy just yet, there's enough to know that the centerline of a major wedge is at $13.40. So, I'd suggest swinging for that fence.
If you'd like to receive further updates and any changes in our opinions on TRMA, ANX, and CIE, be sure to sign-up for the SCN Newsletter today! It's FREE.
