Day Trading with Hary Boxer

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BMRN, GNRC, NTE, SRPT - Stock Charts to Watch RSS

Charts of the Day video for Mon November 5th 2012

Charts of the Day Download MP4
Charts of the Day video analysis of key stocks in play

We’re going to go over the long side here. There’s question as to the direction of the market, and obviously, the election will make a big difference in the direction it will go from here. In the meantime, there were enough stocks in the market on Monday that were impressive, several that we traded.

BioMarin Pharmaceutical Inc. (BMRN), on positive drug news, made a huge move on Monday, up 11.66 to 49.07, or 31%, on 13 million shares. That’s the biggest volume in quite a long time. The top of the channel was tested and it closed right at resistance. Long-term resistance goes all the way back to 2000 and 2008. There may be some upside moves in the next few weeks. It could get up into the high 50’s, low 60’s.

Generac Holdings Inc. (GNRC), manufacturer of portable generators, has been doing great since hurricane Sandy. This stock popped and coiled for 3 weeks, and then exploded when Sandy happened. It’s gone from 25 1/2 to 39 in just the last week and a half. On Monday, it was up 4.25 to 38.60, or 12%, on 5.2 million shares traded. Let’s see what it does in the next few days. The worst it could do is to pull back and test the top of the channel at 36, but let’s see if it will follow through and get up to the mid 40’s.

Nam Tai Electronics, Inc. (NTE) had a very big day on Monday. The coil that we’ve been showing you for two months finally broke out, up 4.41 to 15.12, or 41%, on 7.5 million shares. This stock gapped up and ran hard, opening at 12.50 and jumping to 15.33, just 21 cents off the high. A stock can’t get much better of a breakout than that one. It may very well test 17 short-term, and possibly the low 20’s next.

Sarepta Therapeutics, Inc. (SRPT) had a good day. It didn’t close at the high for the session, but nevertheless, on Monday, it jumped 1.34 to 23.85, or 6%, on 2 million shares. This may be the beginning of a breakout because trend-line support and 50-day moving average support held. We’ll have to see if it has a follow-through. It needs to be above 25-25 1/4 to get it going. First target is 29, the second target is 34.

Other stocks for you to view on Harry’s charts today are Bruker Corporation (BRKR), 8x8 Inc. (EGHT), InterDigital, Inc. (IDCC), Mindspeed Technologies Inc. (MSPD), NovaCopper Inc. (NCQ), Primo Water Corporation (PRMW), REEDS, Inc. (REED), Research In Motion Limited (RIMM), TASER International Inc. (TASR), and Vringo, Inc. (VRNG).