Wall Street is getting ugly, but we nailed some nice trades intraday. We’ll try to keep that up and keep the mojo going in the trading room. But, for now, it’s an ugly market. I do want to point out stocks that are doing well, as well as stocks that aren’t doing so well.
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was a big winner for us on Monday. As a swing trade, it’s working out very nicely. It broke out over key resistance on Monday. The trading zone over the last three weeks looks like it was cracking on Friday, and then it had a big gap up and run up, jumping 13.83, or 19%, on 3.6 million shares. That’s the best volume all year on an upside going back to Jan. There’s resistance up at the 92 1/2 range. It may get a test of 99 as early as today, Tuesday, but there may be some resistance. It has 4-waves up and may go a 5-wave up. That’s why I am giving the 99 zone. I’m still maintaining that as a possibility, and that will be my swing trade.
Cyber-Ark Software Ltd. (NASDAQ:CYBR) is a new issue. After popping, and then coiling, it’s trying to make it out, but it has to get through 32-32.15, or thereabouts, to really get it going. In this market it’s sure acting fabulous. It was up 1.41, or 5%, on 26 million shares. If there’s any turnaround in this market, and the futures are up tonight, this one could pop across 32.50-.60 range, and run. So keep this in mind.
Stocks on the Short Side….
Qihoo 360 Technology Co. Ltd. (NYSE:QIHU) made another low on Tuesday to 60.82. When I first gave it to you, it was up in the 80’s. My targets have been met. If the line at 63.00 breaks, it could go all the way down to the 50 area. We could see a substantial additional drop on this one.
Waddell & Reed Financial, Inc. (NYSE:WDR) is still working its way down. The Boxer Shorts I gave you in August quickly has dropped from 56 down to 44. It looks to me like the 41-2 zone is support. If it gets through that, it could go lower.
Other stocks on Harry’s Charts of the Day are Alpha Pro Tech Ltd. (AMEX:APT), Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR), Natus Medical Inc. (NASDAQ:BABY), iBio, Inc. (AMEX:IBIO), Lakeland Industries Inc. (NASDAQ:LAKE), NewLink Genetics Corporation (NASDAQ:NLNK), ProShares UltraPro Short S&P500 (ARCA:SPXU), Tekmira Pharmaceuticals Corp. (NASDAQ:TKMR), and the ProShares Ultra VIX Short-Term Fut ETF (ARCA:UVXY).
Stocks on the short side include Acxiom Corporation (NASDAQ:ACXM), CalAmp Corp. (NASDAQ:CAMP), eHealth, Inc. (NASDAQ:EHTH), Grifols, S.A. (NASDAQ:GRFS), Garmin Ltd.(NASDAQ:GRMN), Interactive Intelligence Group Inc. (NASDAQ:ININ), Nu Skin Enterprises Inc. (NYSE:NUS), Silicom Ltd. (NASDAQ:SILC), and Tupperware Brands Corporation (NYSE:TUP).