It was a very good day on Wall Street on Tuesday. The markets rallied all day, and in the last hour they pulled back a little bit, but not much. I like the way they closed. I like the way a lot of our stocks acted. So let’s take a look at some old ones and some new ones
Aceto Corp. (NASDAQ:ACET), which we mentioned over the weekend, had an inside day on Monday and on Tuesday it popped 1.70 to 28.87, or 6% on nearly a half million shares, reaching as high as 29.82. This stock has a long uptrend from a low of 4.50-5.00 back in 2011, and is now up in the high 20s. Looking at the overall picture, these are all-time highs. Recently in July, after popping up to the 27.00 range, it came down in a three-wave corrective pullback, tested the earlier breakout point in the 21.43 area, and then exploded off that point. It has gone from 21 and change to almost 30 in a week. If it follows through, look for a run up to the mid-30s, and then the mid-40s going forward.
Advaxis, Inc. (NASDAQ:ADXS) is acting great, up four days in a row out of the last seven, in particular, the volume picked up three days in a row. On Tuesday, it popped 1.64 to 19.49, or 9.2%, on nearly three million shares with a high of 28.88, although it did pull back late in the day on profit taking. It looks like this stock still has more to go. The targets are near 24 and then all the way up near 30. If it gets through that zone, it’s looking at a big number down the road.
Inotek Pharmaceuticals Corporation (NASDAQ:ITEK) made the breakout across the declining tops line on Tuesday that I wanted to see happen and through the prior high, which also happened on Tuesday. It was up 1.57 to 14.57, or 12%. Look for a run to the prior high up around the 16.40-.45 range, and if it gets through that, look for it to run up to the 19.45 area. So the targets are 16½ and 19½.
Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP) has a very, very nice pattern: an explosive-move flag, it popped, pulled back and tested several times in a nice, orderly pattern. On Tuesday the top of that channel may have been challenged at 39-40, possibly in the next day or so, and then look for 46.
Other stocks on the long side include AxoGen, Inc. (NASDAQ:AXGN), Exelixis, Inc. (NASDAQ:EXEL), GW Pharmaceuticals plc (NASDAQ:GWPH), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Maxwell Technologies, Inc. (NASDAQ:MXWL), Seattle Genetics, Inc. (NASDAQ:SGEN), Sarepta Therapeutics, Inc. (NASDAQ:SRPT), Trevena, Inc. (NASDAQ:TRVN), and Weight Watchers International, Inc. (NYSE:WTW).