It was kind of a sloppy day on Wall Street on Tuesday. The indices were up in the morning, and then the Nasdaq 100 really dragged them down. But they had a pullback late in the day, and closed mixed. It was a positive session. We have a lot of stocks that are doing well. Let's take a look at some of them.
Ambarella, Inc. (NASDAQ:AMBA), which had a double-top up around 125-28, came down hard into the low 30’s. It appears that it built a nice base, and the declining topsline has been taken out. It has been up now for ten days in a row. Tuesday’s action was very positive in that it was up another 1.92 to 48.47, or 4%, on 1.6 million shares. With 10.5 days to cover, we may yet get to see this stock get up to the 52-4 range, maybe more than that. If this is a breakout, the downtrend may have been reversed.
Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF), one of our swing trades, had a good day on Tuesday, up 74 cents to 26.88, or 2.8a%, on 1.9 million shares. That’s the best volume in three weeks. Going forward, the targets are 29, and then 32-33. It has 14.6 days to cover.
Clayton Williams Energy, Inc. (NYSE:CWEI) has an awesome chart with a great trend, and good technicals. It broke out on Monday, and Tuesday was a good day trade as well, up 2.64 to 31.58, or 9%, on 569,000 shares traded. Once it gets through the resistance zone, I’m looking at 40 plus as the next target. It has 4 days to cover.
The Direxion Daily Energy Bull 3X ETF (NYSE:ERX), a swing trade of ours, continues to give us oil, and continues to move up. If oil gets up into the 58-60 zone, I’m looking for this stock to move into the high 30’s, maybe 40’s. On Tuesday, it was up 2.01 to 32.42, or 6.6%, on 3 million shares.
Stocks on the long side included Ambarella, Inc. (AMBA), Atwood Oceanics, Inc. (NYSE:ATW), Baytex Energy Corp. (NYSE:BTE), Blue Buffalo Pet Products, Inc. (BUFF), Cott Corporation (NYSE:COT), Callon Petroleum Company (NYSE:CPE), Clayton Williams Energy, Inc. (CWEI), Eldorado Resorts, Inc. (NASDAQ:ERI), Direxion Daily Energy Bull 3X ETF (ERX), Novavax, Inc. (NASDAQ:NVAX), RadiSys Corporation (NASDAQ:RSYS), U.S. Silica Holdings, Inc. (NYSE:SLCA), Sanchez Energy Corporation (NYSE:SN), VelocityShares 3x Long Crude Oil ETN (NYSE:UWTI), Vuzix Corporation (NASDAQ:VUZI), Energous Corporation (NASDAQ:WATT), and Wynn Resorts Ltd. (NASDAQ:WYNN).