U.S. indexes are attempting to shake off yesterday's losses, as traders eye European Central Bank (ECB) President Mario Draghi's latest easing measures, and await more comments from Fed Chair Janet Yellen. Among the equities in focus are biotech interest bluebird bio Inc (NASDAQ:BLUE), retail concern Sears Holdings Corp (NASDAQ:SHLD), and drugmaker Foamix Pharmaceuticals Ltd (NASDAQ:FOMX).
FOMX is up 8.4% at $8.64, bringing its year-to-date lead to more than 14%, on the news that its treatment for acneiform rash associated with some cancers had positive results in its Phase II clinical trial. Analysts may be unsurprised by this rally by Foamix Pharmaceuticals Ltd -- which was trending sideways until November -- as all five brokerages covering FOMX give it a "strong buy." Today's news will likely have short sellers sweating, though, as 7.2% of the stock's float is sold short -- more than 10 times FOMX's average daily trading volume. If bears abandon their positions, a short-covering rally could send the shares even higher.
Minimize Risk While Maximizing Profits
There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!