It was a lousy day on Wall Street, but a lot of stocks we traded did well. It’s always important being in stocks that are trending, especially when you are day trading. Let’s look at some of the stocks that are doing well. We had a really mixed day in the biotech sector on Thursday. Some stocks didn’t do well at all, some are carried forward, and some are breaking out. Let's begin by looking at one of our gold stocks.
Barrick Gold Corporation (NYSE:ABX) is one of the gold stocks that did great on Thursday. This stock has a nice base run up, it formed a wedge, and Thursday it popped out of the wedge, up 55 cents to 14.52, or 4%, on a whopping 23 million shares. That’s the biggest volume in two weeks. Look for it to run up and test the 15 1/2 area, and, ultimately, this could be a 19-dollar stock.
Ocular Therapeutix Inc (NASDAQ:OCUL), a swing trade of ours, extended for the eighth straight day out of a wedge, up 1.06 to 13.01, or 8.8%, on 500,000 shares traded, reaching the swing trade target at 13 on Thursday. The next target, if it continues to extend, could be as high as 17 at the Oct high. In this case, I would like to see another consolidation flag, and set up a swing.
Shutterstock (NYSE:SSTK), another one of our swing trades, is acting very well of late. It popped four days ago, pulled back and got quiet, popped again on Wednesday, and on Thursday, it followed through, up 87 cents to 39.55, or 2.25%, on 359,900 shares traded. The OBV is at the high for the year. It looks like it’s going to extend. The targets are 43 1/2-44, and then 49-50.
Stocks on the long side included Alder Bioph (NASDAQ:ALDR), Celator Pharm (NASDAQ:CPXX), VelocityShares 3x Long Natural Gas linked to S&P GSCI Natural Gas Excess Return (NYSE:UGAZ), Range Resources Corporation (NYSE:RRC), Barrick Gold Corporation (ABX), Market Vectors Gold Miners ETF (NYSE:GDX), Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG), Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT), Himax Technologies Inc (NASDAQ:HIMX), Kitov Pharmaceuticals Holdings Ltd (NASDAQ:KTOV), Direxion Daily S&P Biotech Bear 3X Shares (NYSE:LABD), Ocular Therapeutix, Inc. (OCUL), Ollies Bargain Outlet Holdings Inc (NASDAQ:OLLI), Relypsa Inc (NASDAQ:RLYP), Range Resources Corporation (NYSE:RRC), Shutterstock, Inc. (SSTK), VelocityShares 3x Long Natural Gas ETN (UGAZ), ProShares Ultra VIX Short-Term Futures (UVXY), and Wynn Resorts Limited (NASDAQ:WYNN).
On the short side, stocks included Buffalo Wild Wings Inc (NASDAQ:BWLD), Harman International Industries (NYSE:HAR), Skechers USA Inc (NYSE:SKX), and Williams-Sonoma Inc (NYSE:WSM)