The market had a pullback day and closed near the session lows on Tuesday. Some of the stocks we follow did interestingly well, particularly the ultra-shorts.
Mattel, Inc. (NASDAQ:MAT), a stock that we continue to like, has a little flag on it after pulling back and bouncing. It has very nice action, up 44 cents to 33.08, on 3.6 million shares on Tuesday. Look for a break above 33 1/4-1/2. The spike high was 34, 36, and if it gets above that, 37 1/2-38.
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) is acting well. After 5-waves down it spiked up, formed a wedge, broke out, and stalled at resistance. It actually closed down 20 cents on Tuesday to 14.65, but if it gets through the 15-15.10 area, look for it to run up 17, and then 20.
Smith & Wesson Holding Corporation (NASDAQ:SWHC) continues to climb in a beautiful rising channel. No stopping this one. The long-term chart has unbelievable momentum. The new, all-time high has taken out the 2007 high, and it was up 95 cents to 26.89, or 3.7%, 3.55 million shares on Tuesday. At this point, look for extended movement as it takes out the highs from Friday, which was just about 28.00. Look for it to run to 30, or more.
Other stocks on the long side included Direxion Daily Gold Miners Bear 3X ETF (NYSE:DUST), Editas Medicine Inc. (EDIT), Direxion Daily Energy Bear 3X ETF (NYSE:ERY), Direxion Daily Financial Bear 3X ETF (NYSE:FAZ), Direxion Daily Jr Gld Mnrs Bear 3X ETF (NYSE:JDST), Direxion Daily S&P Biotech Bear 3X ETF (NYSE:LABD), Mattel, Inc. (MAT), Mitek Systems, Inc. (NASDAQ:MITK), Direxion Daily Gold Miners Bull 3X ETF (NYSE:NUGT), ProShares UltraShort Bloomberg Crude Oil (NYSE:SCO), Supernus Pharmaceuticals, Inc. (SUPN), Smith & Wesson Holding Corporation (SWHC), TrovaGene, Inc. (NASDAQ:TROV) , VelocityShares Daily 2x VIX ST ETN (NASDAQ:TVIX), Direxion Daily Small Cap Bear 3X ETF (NYSE:TZA), and ProShares Ultra VIX Short-Term Futures (NYSE:UVXY).
Stocks on the short side included Global Payments Inc. (NYSE:GPN), Harman International Industries, Incorporated (NYSE:HAR), Inogen, Inc. (NASDAQ:INGN), and Luxoft Holding, Inc. (NYSE:LXFT).