It was another great day on Wall Street, with nearly a thousand-point gain in two days, and the two biggest back-to-back days in the history of the stock market. There’s no way of knowing whether the bottom is in or not, or what’s up for the market next. These were two big reversal days, and the follow-through on some of our stocks is phenomenal. It was very difficult paring down a list for here since there are so many, but here are some that are looking very good.
Energy Focus, Inc. (EFOI) was a terrific swing trade. When it broke out on Wednesday, we put it out in the morning, and on Thursday, it extended all the way up to 22.47, which was the first targets. At that point, it got some selling and backed off. Still, it was up 97 cents to 19.57, or 5.2%, on 1.8 million shares, closing off the high by 2.90. That could be a reversal day, we’ll just have to see. A lot of times there is a breakout and pullback like that near the old high, and then it come right back up again. Looks good for 26-7 zone, eventually, which is the target.
Heron Therapeutics, Inc. (HRTX), a swing trade of ours, pulled back, tested support, ran up and tested resistance, pulled back, and now it’s moving up again. On Thursday, it was up 1.96 to 33.36, or 5.9%, on 638,000 shares traded. Keep an eye on this one because it acted so well in a down market it will invariably go higher. Targets are 43, and eventually 50, or better.
Sucampo Pharmaceuticals, Inc. (SCMP) is acting great, and made another new all-time high on Thursday at 28.18, before backing off and closing up 27.92, up 3.37, or nearly 14%, on 1.7 million shares. Good volume. Good technical action. It looks like it’s headed to 33.00.
Senomyx Inc. (SNMX) had a good day on Thursday. The swing trade that we put out worked for a couple days, and then the market pulled it down. When it held support, and the 50-day, it popped out on Thursday, up 58 cents to 7.39, or 8.5%, on 550,200 shares traded. Look for a target of 8.00 next, then 10.00, and then 12 3/4.
Other stocks on the long side include Arch Coal Inc. (ACI), Best Buy Co., Inc. (BBY), Exelixis, Inc. (EXEL), Freeport-McMoRan Inc. (FCX), Forward Industries Inc. (FORD), Flotek Industries Inc. (FTK), NQ Mobile Inc. (NQ), Sears Holdings Corporation (SHLD), Sarepta Therapeutics, Inc. (SRPT), Tantech Holdings Ltd (TANH), and United States Oil (USO).