There’s been a lot of volatility in this market the last few days, and it was up and down sharply again on Thursday. We’re going to go over some longs that really did well.
Clovis Oncology Inc (NASDAQ:CLVS) had a big pop and a pullback, then it formed another wedge and backed off, and it popped again in a rising wedge on Thursday, up 1.53, to 30.63, on 3 million shares traded. I think multiple tops and a gap up around 36-36.40 will be my next target.
Energy Recovery Inc (NASDAQ:ERII) was acting very well. It popped through a mini-double top over the last week, it got to resistance, resistance has been taken out, and it was up 75 cents, or 5.5%, to 14.39, on 1 million shares traded on Thursday. OBV was almost vertical. Short-term target is 16 1/2, and intermediate target is closer to 20. It has 10 1/2 days to cover.
Exelixis Inc (NASDAQ:EXEL), a swing trade of ours, is absolutely terrific. After the pop and pull back, I put a swing on it around 10, and it’s up about 35% already. On Thursday, it was up 33 cents, or 2.5%, to 13.34, on 5.5 million shares traded. Targets going forward are 15 and 18.
Gigamon Inc (NYSE:GIMO) popped on Wednesday after consolidating for 5-6 weeks, and on Thursday it followed through, up 2.54, or 5%, to 50.81, on 1.4 million shares traded. It looks like it’s headed to the top of the channel near 54.
Stocks on the long side included Airgain Inc (NASDAQ:AIRG), Bluebird bio Inc (NASDAQ:BLUE), Cempra Inc (NASDAQ:CEMP), Colucid Pharmaceuticals Inc (NASDAQ:CLCD), Clovis Oncology Inc (NASDAQ:CLVS), Energy Recovery Inc (NASDAQ:ERII), Exelixis Inc (NASDAQ:EXEL), Fitbit Inc (NYSE:FIT), Gigamon Inc. (GIMO), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Resolute Energy Corp (NYSE:REN), Synergy Pharmaceuticals Inc (NASDAQ:SGYP), Supernus Pharmaceuticals Inc (NASDAQ:SUPN), and Xencor Inc (NASDAQ:XNCR).