The stock market had a pretty nasty start to the day on Thursday. It bounced back, rolled over, and bounced again. It’s just a sloppy market, folks, and it is in a downward phase.
Diplomat Pharmacy, Inc. (DPLO) had a nice breakout through a triple top on Thursday, up 3.28 to 34.63, or 14%, on 6 million shares. That’s the best volume I’ve seen on this stock so far. Watch for it to extend to the high 30’s, maybe 40’s.
Chanticleer Holdings, Inc. (HOTR) bounced 21 cents to 2.41 on nearly a million shares. After the pullback, I wanted to see if the trendline was going to hold, which it did. The 50-day moving average is at 2.08, and price support is at 2.10. It spiked from a low of 2.20 on Thursday, and ran to 2.52, before settling back to 2.41. I think Wall Street has started to know it. The next target will be a test of 3-3 1/4, and eventually 3.90.
Orexigen Therapeutics, Inc. (OREX), which closed at 7.25, got up to 7.89 after hours. There should be some action on this one on Friday. I would look for it to potentially test p around 9.00, maybe even as high as 9 1/2.
Solar3D, Inc. (SLTD) broke out the other day, got up to resistance, and backed off to Thursday’s low at 3.85, but closed right back up, reversing to 4.27. It would not be shocking if this made it to 5.00, before it gets a more important pullback, which ideally would take it to the 3 1/2-3/4 area.
Other stocks on Harry’s Charts of the Day included Basic Energy Services, Inc. (BAS), C&J Energy Services, Inc. (CJES), Clean Energy Fuels Corp. (CLNE), Cyber-Ark Software Ltd. (CYBR), Infinity Pharmaceuticals, Inc. (INFI), NewLink Genetics Corporation (NLNK), Opko Health, Inc. (OPK), Oramed Pharmaceuticals Inc. , Paycom Software, Inc. (PAYC), Sanchez Energy Corporation (SN), Statoil ASA (STO).
Stocks on the short side included Ascent Capital Group, Inc. (ASCMA), F5 Networks, Inc. (FFIV), Tiffany & Co. (TIF), and Williams-Sonoma Inc. (WSM).