It was a difficult day on Wall Street, and I’m wondering if some of the earnings reports, gap downs, and a late, bad close could acerbate it into something worse here. I think we’re due. The question is, did we get any downside follow-through. Some of the Nasdaq 100 generals, along with many others, were lower after hours, so Friday may be a difficult session, particularly just before the weekend. There are still some stocks that we follow that are acting well, so let’s take a look at some of those.
Five Prm Th (NASDAQ:FPRX) has been a wonderful swing ever since the inverse head-and-shoulder broke, a swing was put on it at 39, and on Thursday it reached 49, up 2.04 to 48.92, or 4.35%, on 653,000 shares traded. It is at the top of the channel and my target zone. Consider this a successful retest.
Medivation Inc (NASDAQ:MDVN) is acting well, up 1.04 to 53.17, or 3.78%, on 2.5 million shares. Most of it was late in the day, so it looks like something’s up. Lot of stocks are trading, potential deals are in the works, and so on. Look for something in the 60-65 range, or better, before this stock is a takeout.
Ocular Therapeutix Inc (NASDAQ:OCUL) day trade is looking good. After the run-up out of a wedge it formed another wedge, and now it’s broken out of that, up 84 cents to 13.39, or 6.7%, on 381,700 shares traded on Thursday. If the gaps fill, it could run up to 14 1/4 as early as Friday morning. The target remains in the 17 1/2-18 zone. It has 13.66 days to cover.
Weibo Corp (NASDAQ:WB), a swing trade of ours, is acting great, popping another 89 cents to 24.07, or 3.8%, on 1.6 million shares on Thursday. However, it is at the top of the channel, although there is some momentum, potentially, to take it to 25 3/4-26.
Stocks on the long side included Bonanza Creek Energy Inc (NYSE:BCEI), Chemours Co (NYSE:CC), Energy Recovery Inc (NASDAQ:ERII), Energy Transfer Equity LP (NYSE:ETE), Endeavour Silver Corp. (NYSE:EXK), Five Prime Therapeutics, Inc. (FPRX), Inogen Inc (NASDAQ:INGN),Inovio Pharmaceuticals Inc (NASDAQ:INO), Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG), Medivation Inc (NASDAQ:MDVN), Newmont Mining Corporation (NYSE:NEM), Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT), Ocular Therapeutix Inc (NASDAQ:OCUL), Ovascience Inc (NASDAQ:OVAS), Rackspace Hosting Inc (NYSE:RAX), US Silica Holdings Inc (NYSE:SLCA), Supernus Pharmaceuticals Inc (NASDAQ:SUPN), and Weibo Corporation (WB).