It was a difficult day on Wall Street on Monday, to say the least, and indices closed at the lower end of the range. A lot of stocks we traded on Monday did well. Lets take a look at some patterns of stocks that appear to be holding well and/or emerging. We’ll be looking at some stocks on the long and short side here.
Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) ran up for a couple weeks, and then backed off on Friday. On Monday, it had a nice reversal off the low of the 10.16 zone, and closed a point off that level, up 34 cents to 11.15, or 3%, on 1.6 million shares. Even though the volume wasn’t strong, it was selling. Keep an eye on the 11.65 level. If it gets through that, it could run up to 13 1/2-14 zone.
IGI Laboratories, Inc. (NYSE:IG), after Friday’s big pop, had another upside day on Monday, up 40 cents to 8.47, or 5%, on nearly a million shares. Look for it to test the 9 1/2, and then the 11 areas. Those are the targets.
POZEN Inc. (NASDAQ:POZN), after the pullback and pop, stalled for a couple days flagging, and on Monday, it popped another 47 cents to 12.02, or 4%, on nearly a million shares. The volume is picking up and moving across this level potentially. There’s resistance at 12.70, but if it can get through there, the target is 14 1/2-3/4.
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) had a reversal day on Monday, up 19 cents to 23.70. on 1.2 million shares. It went all the way down to 21.69, we put a buy on it at 21.90-22.00, and it closed at 23.70, so that was a nice move. It managed to close in the green after being down sharply. That’s a good sign it wants to go higher. There’s resistance at 24.90, and then the high at 26.80. The short-term target is 26.80-27.00.
Other stocks on Harry’s Charts of the Day included Flamel Technologies SA (NASDAQ:FLML), Nymox Pharmaceutical Corporation (NASDAQ:NYMX), OncoGenex Pharmaceuticals, Inc. (NASDAQ:OGXI), ProShares UltraShort Bloomberg Crude Oil (ARCA:SCO), Solar3D, Inc. (NASDAQ:SLTD), and Teva Pharmaceutical Industries Limited (ARCA:TEVA).
Stocks on the short side included Cabela's Incorporated (NYSE:CAB), Rockwell Collins Inc. (NYSE:COL), Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX), Qualys, Inc. (NASDAQ:QLYS), TAL International Group, Inc. (NYSE:TAL), Terex Corporation (NYSE:TEX), TriNet Group, Inc. (NYSE:TNET), Tupperware Brands Corporation (NYSE:TUP), Universal Electronics Inc. (NASDAQ:UEIC), Yelp Inc. (NYSE:YELP), and Zillow Group, Inc. (NASDAQ:Z).