On June 27th we suggested NEON as a low-priced name of interest. At the time we intended to publish additional low-priced ideas as a result of frequent requests for the same. We have not done it for no reason other than we forgot. We will endeavor to do better going forward.
As for this name, following a decent spike soon after we suggested the opportunity (quick trigger traders could have made up to 45% on the stock never mind the potential of options), the stock opted to fall all the way back through what would have been any reasonable entry price. Prudent risk management would require that even the most aggressive traders have exited the stock once it returned to their entry point after such a substantial pop.
That said, NEON might be setting up for a fresh move to the upside as the higher timeframes are positively structured.
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