The stock market had an interesting day on Thursday, so we’re going to jump right in and take a look at both long and shorts.
Paycom Soft (NYSE:PAYC) finally paid off on Thursday as it spiked from 31 1/2 to 35 1/2 close to the high for the day, up 2.28 to 35.33, or 7%, on 2 million shares. That’s the best volume since January. It looks like it’s about to break out of the trading range, and maybe make a move into the mid-channel to 40, and then the 45 range. Those are the targets going forward.
Sunedison Inc. (NYSE:SUNE) had a great day on Thursday, up 3.13 to 27.96, or 12.6%, on 20 million shares. Despite earnings that were less than spectacular with a loss, but a couple of deals from overseas, and this stock exploded. The volume was one of the biggest volumes of the year. It broke out of a falling wedge off the trendline. Look for it to run up to 30 plus, which is the next target.
Stocks on the Short Side….
Keurig Green Mountain Inc. (NASDAQ:GMCR) was put on the Boxer Shorts list just a couple weeks ago. It broke on Wednesday, gapped down on Thursday, getting whacked big time, down 9.92 to 98.16, or 9%, on 9.1 million shares. The target is 90. Let’s see if it bounces off that level. It’s at the bottom of the channel, so it could bounce and form some kind of bear flag in this range.
Varonis Systems (NASDAQ:VRNS) is looking really ugly, down another 6.61 to 20.07, or 25%, on 2.4 million shares. It has four waves down, and a rising wedge, but the fifth flag will take it down around 17. That’s the target for VRNS going forward.
Other stocks on Harry’s Charts of the Day included Exelixis Inc (NASDAQ:EXEL), Gevo Inc (NASDAQ:GEVO), Aerohive Ne (NYSE:HIVE), HubSpot Inc (NYSE:HUBS), JetBlue Airways Corporation (NASDAQ:JBLU), Jumei International Holding Ltd (NYSE:JMEI), Repligen Corporation (NASDAQ:RGEN), ProShares UltraShort DJ-UBS Crude Oil ProShares UltraShort Bloomberg Crude Oil (ARCA:SCO) and Olympic Steel Inc. (NASDAQ:ZEUS).
Stocks on the short side included 3D Systems Corporation (NYSE:DDD), Emerge Energy Services LP (NYSE:EMES), Hi Crush Partners LP (NYSE:HCLP) and Open Text Corporation (NASDAQ:OTEX).