Cymabay Therapeu (NASDAQ:CBAY), one of our swing trades, after announcing a secondary, and getting smacked to 4 3/4 Monday night, it opened at 5.50, ran up to 7.00, and closed up 96 cents, or 16%, to 6.94, on 5.1 million shares traded. There’s less than 2 days to cover on this one, so I’m not sure how far we can go. Let’s see if it will get up to Monday’s high at 7.77. If it surpasses that, I’m looking near 9.00 for the next target.
First Solar, Inc. (NASDAQ:FSLR) is also acting great, jumping 1.30, or 3%, to 44.02, on 2.9 million shares traded. From where it started, the breakout and pullback, I gave you something around the 33-4 range. It’s 4 waves up, and the fifth wave is underway. It may very well get an extension quickly to take this one up to the 47-8 zone. I don’t know whether it will extend much beyond that before it pulls back, but there is 5 days to cover, and that could fuel the fire.
Impax Laboratories Inc (NASDAQ:IPXL) gained 15 cents to 18.25, on 1.8 million shares traded on Tuesday. It has a left and right shoulder-type pattern that I’m really liking. It has had a nice move up, and a 3-wave corrective move. That’s wave one and two, and wave three is underway. I think wave three will get to 20 before it’s over, pulls back, and then runs into the low to mid 20’s. It has 4 days to cover short. I like the overall structure and look of this one. It has good technicals.
SunPower Corporation (NASDAQ:SPWR) is acting great. Along with First Solar, we’re doing very well with our solar stocks. It popped on Tuesday, and was up 70 cents, or 7%, to 11.07, on 7.2 million shares traded. Although there was a gap, the target above the gap is about 12 1/2. It may pull back and consolidate at that point. I’m looking for 14 and 17 as the next targets.
On the long side, stocks included Applied Optoelectroics (NASDAQ:AAOI), Agenus Inc (NASDAQ:AGEN), Cymabay Therapeu (NASDAQ:CBAY), Eros International (NYSE:EROS), Amicus Therapeutics Inc (NASDAQ:FOLD), First Solar Inc (NASDAQ:FSLR), Impax Laboratories Inc (NASDAQ:IPXL), JinkoSolar Holding Company Limited (NYSE:JKS), Kemet Corporation (NYSE:KEM), Nektar Therapeutics (NASDAQ:NKTR), Nutanix Inc (NASDAQ:NTNX), Puma Biotechnology Inc (NASDAQ:PBYI), Quidel Corporation (NASDAQ:QDEL), Sodastream International Ltd (NASDAQ:SODA), SunPower Corporation (NASDAQ:SPWR), TRAVEL B.V. (TRVG), and Yirendai Ltd. (NYSE:YRD).