It was a spectacular day for the stock market on Thursday. A big day for Wall Street. A lot of stocks we are trading and/or following did great.
Alarm.com Holdings Inc (NASDAQ:ALRM) has a reputation for being a good company. It popped on Thursday, up 2.57 to 25.09, or 11.4%, on 632,454 shares traded. It’s a new issue, but doesn’t trade that much. To me, the top of the channel is beckoning around 28-28 1/2. We could see another three points on it and could be an interesting follow-through on Friday. It has 18.02 days to cover.
Clayton Williams Energy Inc (NYSE:CWEI) is an old swing that continues to give. On Thursday it was up 3.07 to 29.59, or 11.58%, on 783,839 shares traded. After running up one and two in a wedge pattern, holding the trend lines and moving averages after the crossovers, then the surge to secondary resistance at my secondary target up near 30-31, then another pullback falling wedge, on Thursday it popped out of that little, mini 3-day consolidation, following the reversal. The reversal day is at 33.14, so I’m looking to see if it tests 33, and then ultimately 42-43. This is a great-looking chart.
Joy Global, Inc. (NYSE:JOY) had a great day on Thursday, up 1.34 to 22.76, or 6%, on 3.6 million shares. I put out a swing on this one. I just love this pattern. It’s a nice, explosive, breakaway move up to resistance, and then a beautiful pennant, or coil-type consolidation. This stock could run to 25 as early as Friday, and then maybe as high as 30-32. It has 5 days to cover.
North Atlantic Drilling Ltd (NYSE:NADL), a new swing trade of ours, literally achieved its target in 2-3 hours. This stock ran from 6 1/2 to 8 that quickly. But look at the move on Thursday, up 1.90 to 7.82, or 32%, on 1.45 million shares. It has 9.2 days to cover. We may very well see an extension that takes this to 10.00.
Stocks on the long side included Alarm.com Holdings, Inc. (ALRM), ANI Pharmaceuticals Inc (NASDAQ:ANIP), Blucora Inc (NASDAQ:BCOR), Chemours Co (NYSE:CC), Cemtrex Inc (NASDAQ:CETX), Clayton Williams Energy Inc (NYSE:CWEI), Cypress Semiconductor Corporation (NASDAQ:CY), Cyberark Software Ltd (NASDAQ:CYBR), Emerge Energy Services LP (NYSE:EMES), GasLog Ltd (NYSE:GLOG), Genocea Bioscnc (NASDAQ:GNCA), Joy Global Inc (NYSE:JOY), Mobileye N.V. (NYSE:MBLY), MGT Capital Investments Inc (NYSE:MGT), Micron Technology, Inc. (NASDAQ:MU), North Atlantic Drilling Ltd (NYSE:NADL), Natera Inc (NASDAQ:NTRA), NVIDIA Corporation (NASDAQ:NVDA), and Yelp Inc (NYSE:YELP).