The stock market had an interesting day on Monday, and ended the day slightly negative. So we’re going to take a look at some shorts here. They still look weak, they’re still going lower, and a lot of them are falling bear flags and things of that nature. Then we’ll take a look at a few longs.
National Presto Industries Inc. (NPK) is a very bearish-looking chart. After a huge wedge cracked hard, formed a mini-bear wedge, then a flag, it kept stair-stepping lower, until finally it stabilized in the last two days. It was down 2.93 to 66.33, or 4.23% on Monday. It’s right on support and could crack here. The next move is at 60-61, perhaps.
Solera Holdings Inc. (SLH) has had a long down channel underway. It snapped back on Monday, up 27 cents to 38.74, but it looks like it could still go lower. Look for something in the mid 30’s short-term.
Stocks on the Long Side…
LeapFrog Enterprises Inc. (LF) had a key breakout on Monday, up 83 cents to 12.09, 7.37%, on 1.3 million shares. It was a good day for this stock. The volume is picking up, and it looks like it could run, maybe up to the 15 zone short-term.
Sarepta Therapeutics, Inc. (SRPT) really had a nice move on Monday, with a gap and 2-day pause, before starting again to run up. It was up as high as 10.25, before settling back at 9.47, up 1.01, or 12%, on 4.8 million shares. If Monday’s high at 10.25 is taken out, then look for something up around 14 1/2 short-term.
Other stocks in our Charts for the Day are Abercrombie & Fitch Co. (ANF), American Public Education, Inc. (APEI), CEVA Inc. (CEVA), The Chefs' Warehouse, Inc. (CHEF), The Cooper Companies Inc. (COO), CARBO Ceramics Inc. (CRR), Cognizant Technology Solutions Corporation (CTSH), Deckers Outdoor Corp. (DECK), Joy Global, Inc. (JOY), Nucor Corporation (NUE), Pioneer Natural Resources Co. (PXD), Red Robin Gourmet Burgers Inc. (RRGB), SINA Corporation (SINA), and Weight Watchers International, Inc. (WTW).
Stocks on the long side include Array BioPharma, Inc. (ARRY), Cornerstone Therapeutics Inc. (CRTX), Dole Food Company Inc. (DOLE), 8x8 Inc. (EGHT), Ellie Mae, Inc. (ELLI), Medifast Inc. (MED), Sprint Nextel Corp. (S), and Streamline Health Solutions, Inc. (STRM).