It was a pretty good day on Wall Street on Monday. We gave back a little in the afternoon, but closed with a gain for the day. A lot of stocks we follow did well. Many of them are swing trades. Let’s take a look at some of them.
Colucid Pharmaceuticals Inc (NASDAQ:CLCD) is acting great. It popped 1.60, or 4%, to 40.10, on 251,610 shares traded. It's right up against key resistance. The prior high was 40.50, and on Monday the high was 40.20. So, if it can get through 40.50, it should run to midchannel to the high 40’s around 48ish. Eventually, I’m looking for 50.
Exelixis Inc (NASDAQ:EXEL) is a biotech stock that is looking well. It popped out of a flag on Monday, up 46 cents, or 2.65%, to 17.83, on 5.1 million shares traded. It’s in a rising flag, so it could very well accelerate to the next target at 19-19 1/4, and then 22-22 1/2, which is the intermediate target.
Kemet Corporation (NYSE:KEM) extended on Monday and broke through that mini double-top intraday breaking 5.76-7, and closing at 5.81, not too far off the high, up 19 cents, or 3.4%, on 1.15 million shares traded. That’s strong volume for this stock. This looks like a stock that may get to 6 3/4 pretty quickly with only 10 days to cover short.
Neuroderm Ltd (NASDAQ:NDRM) had a big day on Monday after the announcement of favorable trial results for a treatment of Parkinson’s disease, and exploded, reaching as high as 22.00, and then backed off and closed up 4.10, or 26%, to 19.65, on 873,788 shares traded. That’s the biggest volume since July 2015. I gave it a swing at the 19.50-.60 range. It acts like it wants to go higher. I think it closed well. My targets are 24-5, and then a test of the all-time high around 26 1/2. If it gets through that, who knows where it will go. It has 14 1/2 days to cover short.
Stocks on the long side included Aerie Pharmace (NASDAQ:AERI), Argan Inc (NYSE:AGX), Aegean Marine Petroleum Network (NYSE:ANW), Array BioPharma Inc (NASDAQ:ARRY), Bluebird bio Inc (NASDAQ:BLUE), Colucid Pharmaceuticals Inc (NASDAQ:CLCD), Clovis Oncology Inc (NASDAQ:CLVS), Exelixis Inc (NASDAQ:EXEL), Freeport-McMoran Copper & Gold Inc (NYSE:FCX), KEMET Corporation (KEM), NeuroDerm Ltd. (NDRM), NVIDIA Corporation (NASDAQ:NVDA), Potash Corporation of Saskatchewan (NYSE:POT), US Silica Holdings Inc (NYSE:SLCA), U S Concrete Inc (NASDAQ:USCR), Weibo Corp (NASDAQ:WB), Winnebago Industries Inc (NYSE:WGO), and United States Steel Corporation (NYSE:X).