Day Trading with Hary Boxer

The market was kind of shaky today but held on to some gains. I’m looking to see if we can get some further upside before we rollover even harder, if that occurs. We’ll see. Meanwhile, some stocks are acting pretty well.

Akorn Inc. (AKRX) moved up quite nicely in April from 1.30, nearly tripling, to 3.30. Over the last couple months it’s formed a kind of ascending wedge or coil with a double top up around 3.30. That’s the level we want to look at for a breakout, but during this consolidation look at the ever increasing OBV, which indicates accumulation, and Money Stream and Balance of Power is acting well. The stocks above its moving averages and support, and should it get a break to the upside, we’ll look for a quick move that takes it to the 4-4 1/2 zone. That’s my trading target on a short-term basis.

Broadwind Energy, Inc. (BWEN) had a strong day today. It jumped 45 cents or 16%, although at one point it was up substantially higher and backed off from reaching as high as 3.83 this morning. Popping above the 50-day moving average and lateral price resistance, this stock ran up to 3.83 and backed off. With strong volume and strong surge in technicals, I’m looking for more upside on this stock. If it can get through today’s high, I’ll be looking for a move that takes it up to 4 1/2, then 5 3/4 - 6 zone, intermediate and long-term targets.

Micrus Endovascular Corp. (MEND) moved across a four or five month declining topsline on Friday and then followed through a bit today, reaching as high as 22 before backing off. It’s still up 22%. Volume and technicals are surging. It looks like this one is going counter trend to the indices, and not having strong relative strength, this stock, if it gets through 21.66 level, has some resistance in the mid-20s. That’s my short-term trading target, then something in the high 20s on an intermediate basis.

NexMed, Inc. (NEXMD) is another stock that had a big day today. It popped 1.64 or 74 1/2% on 2 million shares, the biggest volume this year. It had a significant price-volume surge that took it through the 10- and 21-day moving averages. I’m expecting a test of the 50-day and price resistance up at the 5 – 5 1/2 zone. That’s where I’d like to see that stock test the next few days.

Other stocks hightlighted on Harry’s Charts of the Day are PROLOR Biotech, Inc. (PBTH), Pharmacyclics Inc. (PCYC), Polypore International Inc. (PPO), Power-One Inc. (PWER), Radcom Ltd. (RDCM), Venoco, Inc. (VQ), Direxion Daily Real Estate Bear 3X Shrs (DRV), Direxion Daily Financial Bear 3X Shares (FAZ), Direxion Daily Small Cap Bear 3X Shares (TZA).