Bluebird bio Inc (NASDAQ:BLUE) has had an explosive move in the last five sessions. It has gone from 74 to over 110. On Wednesday, it was up another 10.95, or 11%, to 109.15, on 2.7 million shares traded. What a nice move its had. Is it extended? You bet it is. When a stock gets 35 points in five days, you have to think about it paring back. It could very well get some consolidation. If it’s just stalling in this area, it could move. My next target is 120. It has 13.8 days to cover .
Clovis Oncology Inc (NASDAQ:CLVS) is looking really good. It was up 2.07, or 3.6%, to 59.32, on a million shares traded. It looks like it formed an inverse head-and-shoulders. Let’s get it through 59 3/4-60, and then I think it’s on its way to 64, and maybe into the low 70’s.
Stocks on the Short Side….
US Silica Holdings Inc (NYSE:SLCA) got smashed on Wednesday for another 3.21, or 8.5%, to 34.72, on 3.9 million shares traded. It closed right at support and it may very well see 30 going forward. It’s an ugly chart.
Veritiv Cor (NYSE:VRTV) is not looking so good. I just put it out as a swing short. It’s starting to weaken, down another 2.73, or 2%, to 124.99, on 2.4 million shares traded on Wednesday. It’s at support and closed there. If it breaks there, it could fall away another 7 or 8 points to around 111-112.
On the long side, stocks included bluebird bio, Inc. (BLUE), Baozun Inc. (NASDAQ:BZUN), Calithera Biosciences, Inc. (NASDAQ:CALA), Cancer Genetics, Inc. (NASDAQ:CGIX), Clovis Oncology Inc (NASDAQ:CLVS), Conns Inc. (NASDAQ:CONN), VelocityShares 3x Inverse Crude (NYSE:DWT), ProShares UltraShort Bloomberg Crude Oil (NYSE:SCO), New Oriental Education & Technology Group Inc. (NYSE:EDU), FormFactor Inc. (NASDAQ:FORM), At Home Group Inc. (NYSE:HOME), HealthEquity, Inc. (NASDAQ:HQY), Kite Pharma, Inc. (NASDAQ:KITE), Kopin Corporation (NASDAQ:KOPN), Micron Technology, Inc. (NASDAQ:MU), Novanta Inc. (NASDAQ:NOVT), PTC Therapeutics, Inc. (NASDAQ:PTCT), Weibo Corporation (NASDAQ:WB), and XPO Logistics, Inc. (NYSE:XPO).
On the short side, stocks included Continental Resources, Inc. (NYSE:CLR), Diamondback Energy, Inc. (NASDAQ:FANG), Hi-Crush Partners LP (NYSE:HCLP), PCM, Inc. (NASDAQ:PCMI), Parsley Energy, Inc. (NYSE:PE), U.S. Silica Holdings, Inc. (NYSE:SLCA), Targa Resources Corp. (NYSE:TRGP), Veritiv Corporation (NYSE:VRTV), WESCO International, Inc. (NYSE:WCC), and Cimarex Energy Co. (NYSE:XEC).