It was a crummy day on Wall Street for the most part on Wednesday. There’s a lot of anxiety around Brexit. Tomorrow may be more of the same, but a lot of individual stocks we follow did well, and some of the trades we had did great.
Alpha and Omega Semiconductor, Ltd. (NASDAQ:AOSL) has gone up more than a hundred percent in the last year, going from under 7.00 to over 15.00 in a very strong, steady trend. I would not be shocked to see this stock get to 17-18 going forward. It has 2.68 days to cover. Wednesday was a key breakout day, though, across real key resistance. It was up 26 cents to 14.68, or 1.8%, on 422,100 shares traded. That was the biggest volume since April.
Exact Sciences Corporation (NASDAQ:EXAS) is doing well. Although it had that big spike up, it pulled back and held, and on Wednesday it had an inside day, up 36 cents to 10.35, or 3.6%, on 3.5 million shares. With volume acting stronger, I’m wondering if this is continuing to consolidate for another week or two, then go, where it immediately takes out 11 1/2 area, and then moves onto the 14 1/2 area. Eventually it may get a gap fill that takes it up to 18. It is 13.15 days to cover.
Gigamon Inc. (NYSE:GIMO) is doing fantastic, up 1.21 to 38.24, or 3.2%, on 1.15 million shares on Wednesday. It’s been up seven days in a row. In the last five days it has moved from 32, and change, to 38 1/2, so six points. The next target is 41. It has 3.51 days to cover.
Retrophin, Inc. (NASDAQ:RTRX) is intriguing. It has a big move 2014-15, taking it from the 6-7 range all the way up to the high 30s, it came down in 5 waves, double-bottomed, broke out, formed a new rising channel, and on Wednesday it popped 39 cents to 18.48, or 2.16%, on 787,500 shares traded. I am looking for this to be a 23-dollar stock going forward. It has 12.44 days to cover.
Stocks on the long side included Alpha and Omega Semiconductor, Ltd. (AOSL), Blucora, Inc. (NASDAQ:BCOR), Cemtrex Inc. (NASDAQ:CETX), Emerge Energy Services LP (NYSE:EMES), Exact Sciences Corporation (EXAS), Exelixis, Inc. (NASDAQ:EXEL), Gigamon Inc. (GIMO), Direxion Daily Gold Miners Bull 3X ETF (NYSE:NUGT), Nymox Pharmaceutical Corporation (NASDAQ:NYMX), Retrophin, Inc. (RTRX), Shutterstock, Inc. (NYSE:SSTK) and Stratasys Ltd. (NASDAQ:SSYS).
On the short side, stocks included athenahealth, Inc. (NASDAQ:ATHN), Foot Locker, Inc. (NYSE:FL), CarMax Inc. (NYSE:KMX), Royal Caribbean Cruises Ltd. (NYSE:RCL), and Stamps.com Inc. (NASDAQ:STMP).