Adamis Pharmaceutical (NASDAQ:ADMP) exploded on FDA approval drug news late in the session, jumping 2.00, or 53%, on 12 million shares traded, and formed a coil in after hours. It appears to me, that, with this kind of spike-up on high volume, it may very well extend, and fill the gap at 7 1/2, or in the 9-10 area.
Epizyme Inc (NASDAQ:EPZM) had an explosive snapback, going from a retest at the 9 1/4 level on Wednesday morning to Thursday’s bounce at 2.15, or 17 1/2%, to the high for the day at 14.50, on 4.3 million shares traded, and closed there. I’m looking for a 15-15 3/4 as early as Friday morning. Targets are in the 18-19 zone going forward.
Stocks on the Short Side
Inphi Corporation (NYSE:IPHI) (IPHI) has been down for 7 days in a row. On Thursday, it was down another 53 cents, or 1.44%, 36.18, on 910,453 shares traded. It looks like it’s headed for a test of 33, and eventually 28-9 are my targets.
PCM Inc (NASDAQ:PCMI) (PCMI) broke out of a bear wedge and dropped another 20 cents to 18.70, on 89,495 shares traded. It is now testing support. If it takes out 19, the target is 14 1/2.
On the long side, stocks included Adamis Pharmaceuticals Corporation (ADMP), Cymabay Therapeutics, Inc. (NASDAQ:CBAY), Carvana Co (NYSE:CVNA), 3D Systems Corporation (NYSE:DDD), Epizyme Inc (NASDAQ:EPZM), Neuroderm Ltd (NASDAQ:NDRM), Omeros Corporation (NASDAQ:OMER), Wayfair Inc (NYSE:W), and Weight Watchers International Inc (NYSE:WTW).
On the short side, stocks included Aspen Technology Inc (NASDAQ:AZPN), Continental Resources Inc (NYSE:CLR), CyberOptics Corporation (NASDAQ:CYBE), DineEquity Inc (NYSE:DIN), Diamondback Energy Inc (NASDAQ:FANG), Fossil Group Inc (NASDAQ:FOSL), Hi Crush Partners LP (NYSE:HCLP), Inphi Corporation (NYSE:IPHI), PCM Inc (NASDAQ:PCMI), Parsley Energy (NYSE:PE), Symantec Corporation (NASDAQ:SYMC), Targa Resources Inc (NYSE:TRGP), Ubiquiti Networks Inc (NASDAQ:UBNT), United Rentals Inc (NYSE:URI), Veritiv Corporation (NYSE:VRTV), Wave Life Sciences Ltd (NASDAQ:WVE), Cimarex Energy Co. (NYSE:XEC), and Yelp Inc (NYSE:YELP).