Exelixis Inc (NASDAQ:EXEL) did fantastic on Tuesday, moving up again another 54 cents, or 2.7%, to 20.57, on 6.7 million shares traded. If it pops through the most recent top line, it could accelerate. Mid-channel line is at about 22 3/4. If it gets through that, it could see the high 20’s.
Finisar Corporation (NASDAQ:FNSR) broke back out on Tuesday, up 76 cents, or 2.5%, to 30.89, on 2.7 million shares traded, although it didn’t hold the close. I’m going to leave this as a swing trade on volume. I need to see it continue a little bit above the 50. It closed at 30.89, and I need a follow-through to get this one up towards 33 1/4. Beyond that, I would be looking at something around 35 1/2.
Kemet Corporation (NYSE:KEM) popped two days ago, had an inside day on Monday, and on Tuesday it had another solid day, up 17 cents, or 2.23%, to 7.81, on 652,880 shares traded. It looks like it’s about to take out the 7.90 area, and run up towards 9.00-9 3/4.
Magellan Petroleum Corporation (NASDAQ:MPET) continues to swing after the big reversal. It did not see any downside momentum, and is moving back up again. It was up 80 cents, or 6%, to 13.82, 469,846 shares traded on Tuesday. If it can get above 14.30 as early as Wednesday morning, targets are 16 1/2, even 20. It has a powerful pattern.
Stocks on the long side included Achaogen Inc (NASDAQ:AKAO), Century Aluminum Company (NASDAQ:CENX), Cemtrex Inc (NASDAQ:CETX), Esperion Th (NASDAQ:ESPR), Exelixis, Inc. (EXEL), Second Sight Medical Products (NASDAQ:EYES), Finisar Corporation (NASDAQ:FNSR), Health Insurance Innovations Inc (NASDAQ:HIIQ), Kemet Corporation (NYSE:KEM), Magellan Petroleum Corporation (NASDAQ:MPET), Netflix, Inc. (NASDAQ:NFLX), and Weibo Corp (NASDAQ:WB).
On the short side, stocks included Carters Inc (NYSE:CRI), G-III Apparel Group Ltd (NASDAQ:GIII), L Brands, Inc. (NYSE:LB), PVH Corp. (NYSE:PVH), RH (NYSE:RH), Signet Jewelers Ltd (NYSE:SIG), Under Armour Inc C (NYSE:UA), and Urban Outfitters, Inc. (NASDAQ:URBN).