The stock market is still shaky. They looked really good in the morning, tried to rally, and then they rolled over and closed at the lows for the day. This market is not done yet. But there are some stocks that are acting great. After hours there were a couple of biotech stocks that had some pretty good news.
Cypress Semiconductor Corporation (NASDAQ:CY) has been great since we first mentioned it, and since the gap and merger with CODE. It gapped up and has been running up a nice tight channel for two weeks and it’s still moving up. It didn’t get into the 12 range like I wanted, but here it is up to 14.28 on Tuesday. There is some later resistance in this zone. It has a beautiful base pattern in the course of the last couple years. The breakout here could be significant. We may see this stock eventually move in the high teens. Look for it at 19-20 on an intermediate basis. Short-term, though, I would love to see a pullback set-up.
Flamel Technologies SA (NASDAQ:FLML)), one of our swing trades, is acting great. It had a big reversal day recently. Note, though, that it’s having a difficult time getting through 17.40. That’s what we are going to look for here. If it gets through there, the next targets are 19 and 21.
Oasis Petroleum Inc. (NYSE:OAS) is an oil stock that I know pretty well, and I wasn’t surprised to see it roll over. It went from 57, all the way down to 11, and change. The reason I put a swing trade on it late on Tuesday is that when I looked at the total volume of 16 1/2 million shares, bigger than all the down days, it’s had recently, perhaps a key reversal day. The next target is 17 1/2-18, which is a swing-trade target, but it could very well make it up to 20-22 1/2. First things first. Let’s get a follow-through and get it up towards 17-17 1/4-1/2, and then we’ll go forward.
TASER International Inc. (NASDAQ:TASR) has an interesting way that it’s forming, a little wedge on lower volume within the confines of a rising channel. In afterhours it has a little bit of a tick up. It closed at 22.85, and traded up to 23.50. Something may be brewing there. We’ll have to see. But in any case, there’s a possibility of a strong opening on Wednesday. I’m still looking for that 28 level, maybe as high as 32-33 on an intermediate basis. It still has good momentum as far as I am concerned.
Other stocks on Harry’s Charts of the Day are Auspex Pharmaceuticals, Inc. (NASDAQ:ASPX), Cerus Corporation (NASDAQ:CERS), Infinera Corporation (NASDAQ:INFN), Novogen Limited (NASDAQ:NVGN), Range Resources Corporation (RRC), Sorrento Therapeutics, Inc. (NASDAQ:SRNE), Sierra Wireless Inc. (NASDAQ:SWIR), ProShares Ultra VIX Short-Term Fut ETF (ARCA:UVXY), Qihoo 360 Technology Co. Ltd. (NYSE:QIHU), Tupperware Brands Corporation (NYSE:TUP), Waddell & Reed Financial, Inc. (NYSE:WDR), Yelp, Inc. (NYSE:YELP).