It was a mixed day for the market on Wednesday, an up-day, but it didn’t feel like one, based on the pullback in the afternoon. A lot of stocks that we follow did great.
Cemtrex Inc (NASDAQ:CETX) is doing great. I love the way it’s acting. It’s looks to me like a stock that may have had gain changes type of action. It popped, pulled back, and exploded. Tuesday was a down day, and on Wednesday it reversed back up. That’s a good sign to me. When I see that kind of action, meaning that it holds support, and then pops. What I will be looking for on Thursday is can this take out 3.53. If so, the targets are 4.00-4.05, and then all the way up to 5-5 1/2. CETX was up 14 cents to 3.44, or 41/4%, on 663,370 shares traded.
Cynosure Inc (NASDAQ:CYNO) is acting well. After the pop, breakout, and then the pullback consolidation for about four weeks, it popped one more time, got up to the resistance, and stalled. Wednesday was a big day, up 2.41 to 52.65, or 4.8%, on 550,000 shares traded. That’s the second biggest volume on an up-day in about two months. I'm looking for a target of 55, and then 59 next on this stock.
Channeladvsr Co (NYSE:ECOM) has an interesting chart. It closed up 18 cents to 14.42, or 1.26%, on 1.3 million shares. Here’s a stock that double-topped in 2014, came down 5 waves with a big fifth-wave spike, based out, tried to break out, retested, and the one-year chart shows a basing pattern. I think the key is going to be the double-top at 14.73 twice. On Wednesday, this stock jumped to 14.45, and closed at 14.42. You can see the entry into the resistance zone. If it gets through there, I’m looking for 16-17 short-term, and long-term this could be a 20-23 dollar stock. It has 8.37 days to cover.
GasLog Ltd (NYSE:GLOG), one of our swing trades, has been beautifully running up in a little, tight channel eight days in a row, and on Wednesday, it broke through the top of that, up 26 cents to 13.85, or 2%, on 478,471 shares traded. If it can extend on Thursday, the short-term target is 15-15 3/4. The top of the channel beckons around 19, 21-22. This could be an interesting stock to watch with nearly 7 days to cover.
Stocks on the long side included First Majestic Silver Corp (NYSE:AG), Agios Pharm (NASDAQ:AGIO), Ambarella Inc (NASDAQ:AMBA), Baytex Energy Corp (TO:BTE), Cemtrex Inc. (CETX), Cliffs Natural Resources Inc (NYSE:CLF), Callon Petroleum Company (NYSE:CPE), Cynosure, Inc. (CYNO), ChannelAdvisor Corporation (ECOM), 8x8 Inc (NASDAQ:EGHT), Exelixis Inc (NASDAQ:EXEL), GasLog Ltd. (GLOG), Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG), Juno Therapeutic (NASDAQ:JUNO), Legacy Reserves LP (NASDAQ:LGCY), Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT), Novavax Inc (NASDAQ:NVAX), Nevro Corp (NYSE:NVRO), Sanchez Energy Corporation (NYSE:SN), TASER International Inc (NASDAQ:TASR), Ubiquiti Networks Inc (NASDAQ:UBNT), VelocityShares 3x Long Silver linked to S&P GSCI Silver ER Exp 14 Oct 2031 (NASDAQ:USLV), VelocityShares 3x Long Crude linked to S&P GSCI Crude Oil Excess Return (NYSE:UWTI), Vuzix Corp Cmn Stk (NASDAQ:VUZI), and United States Steel Corporation (NYSE:X).