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What a market it was on Tuesday. A lot of stocks we follow did well. I really had a tough time choosing a list,because there were at least 60-70 stocks I could tell you about here. Both shippers and marijuana stocks had a big run along with many others.
Finisar Corp. (FNSR) has been acting great all year, and then it spiked up on earnings, and kept on running. When it reached resistance, it had a 3-wave corrective pullback to the 50, and then broke back out again on Tuesday, up another 85 cents, or 2.76%, to 31.70, on 1.4 million shares traded. Short-term target is 35-37, and then low-to-mid 40’s intermediate-term.
LifeLock, Inc. (LOCK) has been doing well all year. I think this stock is a takeout, and there’s a couple companies chasing it, so I don’t know what the price is going to be. It got to a perfect 17 1/2 range, and then 20 1/2, and is still running. It was up 81 cents, or 4%, to 20.51, on 3.6 million shares traded on Tuesday. I’m looking for 23-25 as the next target.
Tower Semiconductor Ltd. (TSEM) has a beautiful long-term chart. Near-term, it has a rising pattern that tells me that it’s headed to the 23-25 zone, especially with Tuesday’s action where it popped through the resistance zone with a gap, up 95 cents, or 5.7%, to 17, on 2.4 million shares traded. That’s the second biggest volume on and up-day since Feb, 2015. With that kind of move, I wouldn’t be surprised to see a quick test of the 18-20-30 zone, and if it gets through there, then much higher.
Vuzix Corporation (VUZI) popped right through the 50 on Tuesday, up 65 cents, or 8.7%, to 8.05, on 528,900 shares traded. It did pull back from 8.25 to close at 8.05. Six of the last seven session this stock has been up, and I think it’s going to make a run at the 9 1/2-3/4 zone, and then see if there’s resistance that needs to be taken out.
Stocks on the long side included Aerie Pharmaceuticals, Inc. (AERI), CoLucid Pharmaceuticals, Inc. (CLCD), Airgain, Inc. (AIRG), Applied Materials, Inc. (AMAT), AveXis, Inc. (AVXS), Cara Therapeutics Inc. (CARA), Canopy Growth Corporation (CGC.TO), DryShips, Inc. (DRYS), Euroseas Ltd. (ESEA), Freeport-McMoRan Inc. (FCX), Finisar Corp. (FNSR), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Direxion Daily Gold Miners Bull 3X ETF (NUGT), LifeLock, Inc. (LOCK), MINDBODY, Inc. (MB), NUTANIX, INC. (NTNX), NVIDIA Corporation (NVDA), Resolute Energy Corporation (REN), Tronox Limited (TROX), Tower Semiconductor Ltd. (TSEM), VelocityShares 3x Long Crude Oil ETN (UWTI), Vuzix Corporation (VUZI), United States Steel Corp. (X), Xencor, Inc. (XNCR), Intrexon Corporation (XON), XPO Logistics, Inc. (XPO), Yirendai Ltd. (YRD), and Zebra Technologies Corporation (ZBRA).