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There was a rally on Wall Street on Monday. Apparently, they think Hillary is going to win. I hope she does, at this point, because the market won’t like it if she doesn’t.
Clayton Williams Energy, Inc. (CWEI) monster keeps growling. On Monday, it was up 3.40, or 3.4%, to 104.34 on 406,878 shares traded. It reached a high 106.80, which is a long way from where we first gave it to you at 19.00, about six months ago. What a phenomenal move, about 4-500%, and it keeps on going. Targets are 113, and then 122.
Gigamon Inc. (GIMO) has a powerful pattern, folks. It has been one of our favorite stocks for several weeks. Ever since it broke out in June, it has gone up about 23 points. Although it was a little choppy recently, and had gotten down to the 45 area, it seems to be holding the trend channel now. It broke out of a little flag on Monday, and ran up 3.80, or 7%, to 57.85, on 1.2 million shares traded. I’m looking for this stock to make it up to about 65 short-term.
Hudson Technologies Inc. (HDSN) had a really-nice snapback on Monday, up 54 cents, or 8.6%, to 6.82, on 1.2 million shares traded. From the recent pullback, it popped, had an inside day, and popped again on Monday. All it has to do now is get through Monday’s high in the 6.95-7.00 range. If it gets through 7.00, I’m looking for 7 3/4, 9, and 9 1/2.
Swift Transportation Company (SWFT) is moving up swiftly, up 1.08, or 5%, to 23.86, on 2.6 million shares traded. It broke out of a flag on Monday, and I think it has a really-good shot at testing the 24 3/4-25 zone. If it can punch through resistance and run, I think it could get to 28. It has a great rising angle of ascent, 11 days to cover, good OBV, and good technicals.
Stocks on the long side included Applied Optoelectronics, Inc. (AAOI), Autodesk, Inc. (ADSK), Aerie Pharmaceuticals, Inc. (AERI), Alarm.Com Holdings, Inc. (ALRM), Applied Materials, Inc. (AMAT), VanEck Vectors Semiconductor ETF (SMH), Amkor Technology, Inc. (AMKR), Air Transport Services Group, Inc. (ATSG), General Cannabis Corp. (CANN), Cara Therapeutics Inc. (CARA), Cannabis Sativa, Inc. (CBDS), The Chemours Company (CC), Clayton Williams Energy, Inc. (CWEI), FireEye, Inc. (FEYE), Finisar Corp. (FNSR), Gigamon Inc. (GIMO), Hudson Technologies Inc. (HDSN), Direxion Daily S&P Biotech Bull 3X ETF (LABU), LeMaitre Vascular, Inc. (LMAT), LifeLock, Inc. (LOCK), Momo Inc. (MOMO), NVIDIA Corporation (NVDA), Oclaro, Inc. (OCLR), Seattle Genetics, Inc. (SGEN), Swift Transportation Company (SWFT), Tesaro, Inc. (TSRO), Vuzix Corporation (VUZI), XPO Logistics, Inc. (XPO), Yirendai Ltd. (YRD), and Zynerba Pharmaceuticals, Inc. (ZYNE).
Days to cover is the amount of short interest divided by the company's average daily share volume. In other words, the number of days required to close out all the short positions. A higher number means more potential fuel to a stock’s rally as shorts cover, and thus accelerate the move, when the stock’s price rises.
On Balance Volume (OBV), developed by Joe Granville, is a running summation of volume on up-days minus volume on down days. OBV rises when volume on up days outpaces volume on down days -- and falls when volume on down days is stronger. A rising OBV reflects positive volume pressure that can lead to higher prices. Conversely, falling OBV reflects negative volume pressure that can foreshadow lower prices.