Wall Street had a nice day on Monday. The indices opened strong, and ran all day in a rising channel. Stocks that we follow did well, but it looks like the indices are still a little short-term long in the tooth. Nevertheless, momentum is strong, and Apple Inc‘s (NASDAQ:AAPL) earnings were pretty much blow-out, and should be an impetus for the market on Tuesday. Let’s take a look at some of the stocks we’re following closely.
BioDelivery Sciences International Inc. (NASDAQ:BDSI) is one of our swing trades and is looking great. It spiked down, took out some stops, and ran right back up four days in a row. This rally is taking a lot of the biotech stocks up with it. The resistance on this stock is going to be at 18, and if it gets through that, look for it to head up to the 20-21 zone.
BioFuel Energy Corp. (NASDAQ:BIOF) had a good day, up 41 cents, or 56%, on 809,700 shares. Anyone who has a question about this one, I strongly suggest seeking out the details about the deal. Basically, in a week or so it’s going to become J.D. Builders. The bottom line is, they have about 200 million dollars in revenue, and what I’m hearing is that it should be worth something like 45-55 cents a share. It could spurt that stock to the 10-11 range again, maybe all the way up to 13 short-term. If and when it gets through 10, that’s the next target.
NQ Mobile Inc. (NYSE:NQ) had a nice day on Monday. After the spike down in July, the spike up, and then consolidation, this stock had gone from 5.68, all the way up to 9.35 in the last four weeks. More importantly, on Monday, it broke out over the August highs. Now we can set up a target around 10 1/2-11.
SunEdison, Inc. (NYSE:SUNE) is looking good. I am very pleased about how it had pulled back on Friday, and then snapped right back on Monday, holding support, and then moving up 1.28, or 7.7%, on 25 million shares. That’s very heavy volume. There may be some more upside up toward the 20-21 zone.
Other on Harry’s Charts of the Day are Agios Pharmaceuticals, Inc. (NASDAQ:AGIO), Akorn, Inc. (NASDAQ:AKRX), Anacor Pharmaceuticals, Inc. (Anacor Pharmaceuticals Inc (NASDAQ:ANAC)), Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR), BlackBerry Limited (NASDAQ:BBRY), ITT Educational Services Inc. (NYSE:ESI), Southwest Airlines Co. (NYSE:LUV), NewLink Genetics Corporation (NASDAQ:NLNK), Sears Holdings Corporation (NASDAQ:SHLD), and ShoreTel, Inc. (NASDAQ:SHOR).