It was a really weird day on Wall Street. The Nasdaq generals were weak, in particular, NFLX. They were heading down while the S&P 500 was moving up. They both slipped midday sharply, recovered nicely, and finished mixed on the day. We will continue to look at the long side until the market needs to be played on the downside. That may be coming, but for now, let’s take a look at the stocks that did well on Tuesday.
Century Aluminum Company (NASDAQ:CENX), a swing trade of ours, is doing great. It broke out of a falling wedge, flagged underneath resistance, and on Tuesday, it popped 1.06 to 8.48, or 14%, on 5.9 million shares. It was a significant day for this stock. The March high comes in around 8.94. If it gets through that, look for it to head up to 10, 12 1/2, and 14 eventually.
Ebix Inc (NASDAQ:EBIX) is doing great since it broke out two days ago, stalled on Monday, and exploded on Tuesday, up 2.13 to 47.86, or 4.7%, on 547,500 shares traded. It’s at the top of the short-term channel, but the long-term channel says 68.
Repros Therapeutics Inc (NASDAQ:RPRX) exploded, pulled back, and is right back up at the high, up 34 cents to 3.13, or 12%, on 17.8 million shares, on Tuesday. Going forward, look for this stock to run up to 5.50, and if it gets through that it could see 6.00 in a flash.
US Silica Holdings Inc (NYSE:SLCA), one of our swing trades, popped out of its base on Tuesday with a pop of 1.78 to 25.42, or 5.3%, on 2.6 million shares. With 5.2 days to cover, I think it extends to the 29-30 zone. It has a nice base, break out, and is moving nicely.
Stocks on the long side included First Majestic Silver Corp (NYSE:AG), Freeport-McMoran Copper & Gold Inc (NYSE:FCX), Market Vectors Gold Miners ETF (NYSE:GDX), Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG), Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT), Pan American Silver Corp (NASDAQ:PAAS), Silver Wheaton Corp (NYSE:SLW), Timkensteel Corp (NYSE:TMST), VVelocityShares 3x Long Natural Gas linked to S&P GSCI Natural Gas Excess Return (NYSE:UGAZ), VelocityShares 3x Long Silver linked to S&P GSCI Silver ER Exp 14 Oct 2031 (NASDAQ:USLV), Christopher & Banks Corporation (NYSE:CBK), The Chemours Company (CC), Century Aluminum Company (NASDAQ:CENX), Ebix Inc. (EBIX), Direxion Daily Energy Bull 3X ETF (ERX), and Targa Resources Inc (NYSE:TRGP).