The stock market is still a little on the sloppy side the last few days, but it did a comeback move after the morning dip, and, so far, there's no downside follow-through in the market. We have to reconsider everything on the short side until the market breaks, unless it’s a Boxer Short. Downtrends are short, uptrends are long, and we are looking at stocks that are turning up and down.
Arrowhead Research Corporation (NASDAQ:ARWR) is in a bottoming pattern, with a nice pullback retest. It worked its way up to resistance at the 16.90 level, pulled back to test it, consolidated for a week, and on Wednesday, it was up 77 cents, or 4.77%, on 2.9 million shares. Although that wasn’t big volume, it made it through the 17.45 area, and looks like it could take a run to 18 1/4-1/2, and then the low 20’s.
BioDelivery Sciences International (NASDAQ:BDSI), one of our swing trades, is acting great. It had a one-day pullback, consolidated in that zone, and on Wednesday, it popped 41 cents, or 2.39%, on 1.2 million shares. That’s not very big volume for this stock, so it may continue to consolidate for another few days. Watch to see it flag in here, and then go to the high teens, low 20’s.
Chimerix Inc (NASDAQ:CMRX) is a biotech that is happening. It has multiple tops a couple years apart, and it blew through it on Wednesday, up 1.49, or 17.6%, on nearly a million shares. That’s the biggest volume on an up-day in a year, or longer. It looks like it’s headed up toward the mid 30’s
NPS Pharmaceuticals Inc (NASDAQ:NPSP) is really developing well. Wednesday was a big day for it, breaking the declining topsline and lateral resistance, and it blew up through the moving average as well at the high for the day going away. Expect to see 35 short term, and then 37.
Other on Harry’s Charts of the Day are Aegerion Pharmaceuticals Inc (NASDAQ:AEGR), Avanir Pharmaceuticals Inc (NASDAQ:AVNR), Endocyte Inc (NASDAQ:ECYT), Enphase Energy Inc (NASDAQ:ENPH), Fireeye Inc (NASDAQ:FEYE), GoPro Inc (NASDAQ:GPRO), Imperva Inc (NYSE:IMPV), JinkoSolar Holding Company Limited (NYSE:JKS), Lands End I (NASDAQ:LE), Mandalay Digital Group Inc (NASDAQ:MNDL), Palo Alto Netwrk (NYSE:PANW), and Splunk Inc (NASDAQ:SPLK).