It certainly wasn’t a good day on Wall Street on Tuesday. There's not much more to say about it than that. We’re going to take a look at stocks that did well, mostly ETFs, but there were a few longs that did well.
Omega Protein Corporation (NYSE:OME) is acting great, up 78 cents to 16.77, or 4.8% on Tuesday. It’s four waves up, so look for a fifth wave to take it to the low 20s potentially. Resistance has to be up around 17.60. It in a little bit of a consolidation zone. The consolidation looks bullish. The stop is under 15½.
Pandora Media, Inc. (NYSE:P) is looking awfully good. It has five waves down, but then it formed an inverse head-and-shoulders, a right-handed V breakout, consolidated, and then popped 58 cents to 20.00, or 2.8% on eight million shares on Tuesday. It’s in a lousy market, but doing pretty good for itself. Target is at 23¾, and if it gets through that, this stock may very well run to 29-29½. This is one you need to pay attention to, relative strength is strong.
Stocks On The Short Side
CEB Inc. (NYSE:CEB) was down another 57 cents to 67.95 on Tuesday. Its fourth wave down and a fifth wave is under way. It should test the gap down around 63. Below that, if it fills the gap, the target is 59-60.
Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) may just be rolling over. It formed hammer, a wedge, and is breaking down. It was down 35 cents to 74.54 on Tuesday. First targets 70, second target 65.
Other stocks on the long side include Direxion Daily S&P Biotech Bear 3X ETF (NYSE:LABD), VelocityShares Daily 2x VIX ST ETN (NASDAQ:TVIX), ProShares Ultra Bloomberg Crude Oil (NYSE:UCO), United States Oil (NYSE:USO), ProShares Ultra VIX Short-Term Futures (NYSE:UVXY), T2108, T2106.
Stocks on the short side include Cynosure, Inc. (NASDAQ:CYNO), Tableau Software, Inc. (NYSE:DATA), Emerge Energy Services LP (NYSE:EMES), Hi-Crush Partners LP (NYSE:HCLP), ManpowerGroup Inc. (NYSE:MAN), Mallinckrodt Public Limited Company (NYSE:MNK), SanDisk Corp. (NASDAQ:SNDK), TAL International Group, Inc. (NYSE:TAL), TriNet Group, Inc. (NYSE:TNET), Tupperware Brands Corporation (NYSE:TUP), Universal Electronics Inc. (NASDAQ:UEIC), United Rentals, Inc. (NYSE:URI), The WhiteWave Foods Company (NYSE:WWAV), and Yelp Inc. (NYSE:YELP).