It was another great day on Wall Street on Wednesday. That’s the first two-day, back-to-back sessions in three weeks. This may be a complete turn-around in the market, and the breakout of the indices was important, very important. Taking out declining topsline and lateral resistance was key. Let’s take a look at some longs that are looking well.
Celator Pharmaceuticals, Inc. (NASDAQ:CPXX) looks like a rock star for us, up 44 cents to 17.55, or 2.57%, on 1.4 million shares. Buying in after the pullback was the right thing to do. It has moved from about 8.00 to 18.00. It’s near the bottom of the channel of a little mini flag, and if it can pop through 15-20 as early as Thursday it could run. I wouldn’t be surprised to see a quick pop into the low 20s.
Clayton Williams Energy, Inc. (NYSE:CWEI), a swing trade of ours, has been phenomenal since we put it out, having moved from the high teens to the high 20s. On Wednesday, it was up 3.75 to 29.13, or 14.78%, on 887,100 shares traded. The pattern, with a spike up and consolidation, broke back out. I think it has more to go. Immediate target is 33, and beyond that the high 30s. It has 4.12 days to cover.
Nimble Storage, Inc. (NYSE:NMBL) is doing well, I like the base pattern, and the breakout on Wednesday across that base. it didn’t have a great close, but it was still up 1.21 to 8.30, or 16.46%, on 5.67 million shares. That’s the biggest volume on an up-day in more than a couple years. If the base is complete, I expect it to pull back for a buying opportunity that takes this stock up to 10.00, and then 11.50. It has 7.89 days to cover.
Universal Display Corp. (NASDAQ:OLED) is looking great. It had a nice pop on Tuesday, followed by another move up on Wednesday, up 1.58 to 65.97, or 2.45%, on 1.3 million shares. It looks like it’s spiking up to the 70-dollar range. It has 4.72 days to cover.
Stocks on the long side included Atwood Oceanics, Inc. (NYSE:ATW), Celator Pharmaceuticals, Inc. (CPXX), CONSOL Energy Inc. (NYSE:CNX), Computer Sciences Corporation (NYSE:CSC), Clayton Williams Energy, Inc. (CWEI), Direxion Daily Energy Bull 3X ETF (NYSE:ERX), Exelixis, Inc. (NASDAQ:EXEL), GW Pharmaceuticals plc (NASDAQ:GWPH), Helix Energy Solutions Group, Inc. (NYSE:HLX), JinkoSolar Holding Co., Ltd. (NYSE:JKS), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), Legacy Reserves (NASDAQ:LGCY), Nimble Storage, Inc. (NMBL), Oasis Petroleum Inc. (NYSE:OAS), Universal Display Corp. (OLED), Pacific Ethanol, Inc. (NASDAQ:PEIX), U.S. Silica Holdings, Inc. (NYSE:SLCA), Vuzix Corporation (NASDAQ:VUZI), Whiting Petroleum Corp. (NYSE:WLL), and Wynn Resorts Ltd. (NASDAQ:WYNN).