These are the Charts of the Day. It was a tough afternoon on Wall Street as many of the stocks we follow had a strong morning, but reversed in the afternoon, and some of them monstrously so, meaning they had huge drop backs. To follow are some shorts to watch.
Barrett Business Services Inc. (BBSI) has a rising channel going from July to Jan, it broke down hard, bounced, and rolled over, moved up to resistance a week and a half, two weeks ago, and on Tuesday, it rolled over again, down 2.84, or 4%. Look for a test of the lows around 60.
Hornbeck Offshore Services, Inc. (HOS) has been in a bearish trend all year. It rolled over in Oct, bear flagged a couple of times, formed several bear wedges, and on Tuesday, it spiked out of a big bear wedge, down 1.11, or 2.6%. It may very well test the lows and take them out. The next stop is at 38 1/2. If it gets through that, look for it to drop into the low 30’s.
TAL International Group, Inc. (TAL) broke its top in Jan, formed a bear flag, and on Tuesday, it spiked down another 1.41, or 3.2%. It’s headed for a test of 38 1/2.
Triumph Group, Inc. (TGI) has been very ugly this year. It has a massive head-and-shoulders top, a break down, and a big bear wedge that formed. If that breaks, it could rollover into the mid 50’s.
Other stocks on Harry’s Charts of the Day are Clean Diesel Technologies Inc. (CDTI), La Jolla Pharmaceutical Co. (LJPC), Northwest Biotherapeutics, Inc. (NWBO), Ocean Power Technologies, Inc. (OPTT), Senomyx Inc. (SNMX), Solazyme, Inc. (SZYM), Tekmira Pharmaceuticals Corp. (TKMR), and ZBB Energy Corporation (ZBB). Stocks on the short side include GameStop Corp. (GME), International Technology (IGT), Nationstar Mortgage Holdings Inc. (NSM), NeuStar, Inc. (NSR), VOXX International Corporation (VOXX), The ExOne Company (XONE), The and Direxion Daily China Bull 3X Shares (YINN).