It was an interesting day for the market on Monday. Everyone thought it would get hammered at lower oil prices, and sure enough, it did at the opening, but turned around, rallied all day, and ended on a positive note. Some stocks we follow did very well. Let’s take a look at some of those.
Celator Pharm (NASDAQ:CPXX) had a wild day on Monday. It ran up sharply in the morning all the way up to 17.40, plummeted to 13.00, snapped to 15, went back down to test 13.00, went all the way up to 16.20, before backing off. In after hours it got a little bit firmer to close up 1.12 to 16.17, or 7.4%, over 23 million shares. If it extends, the next target is 17.40, of course, and then we’ll have to wait to see if it takes that high out.
Universal Display (NASDAQ:OLED) had a clean break out on Monday, up 4.46 to 62.36, or 7.7%, on 1.7 million shares, closing near the upper end of the range. That was a nice follow-through. Looking at the long-term chart, the secondary swing target is in the mid 70’s.
Progenics Pharmaceuticals Inc (NASDAQ:PGNX) is picking up steam, up 39 cents to 5.26, or 8%, on 1.2 million shares. That’s the best volume in six sessions. It broke out across the triple top. With that move, it took out the declining topsline, which could lead to something around 6-6 1/2 short-term, and then 7, and 8 1/2. This stock has a very intriguing chart pattern.
US Silica Holdings Inc (NYSE:SLCA), a swing trade that is starting to work, on Monday popped from 22.21 to 24.23, and closed just pennies off the high up 1.15 to 24.14, or 5%, on 3 million shares. I think it’s break out day for this stock. That’s the best volume in three weeks. Look for a run that tests 26, and then 30. It has 5.2 days to cover.
Stocks on the long side included Argos Therapeutics Inc (NASDAQ:ARGS), Christopher & Banks Corporation (NYSE:CBK), Chembio Diagnostics Inc (NASDAQ:CEMI), Celator Pharm (NASDAQ:CPXX), Direxion Daily Energy Bull 3X Shares (NYSE:ERX), Energy Transfer Equity LP (NYSE:ETE), Heron Therapeuti (NASDAQ:HRTX), Inovio Pharmaceuticals Inc (NASDAQ:INO), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Lsb Industries Inc (NYSE:LXU), Medivation Inc (NASDAQ:MDVN), MediciNova Inc (NASDAQ:MNOV), Universal Display (NASDAQ:OLED), Progenics Pharmaceuticals Inc (NASDAQ:PGNX), Rackspace Hosting Inc (NYSE:RAX), Repros Therapeutics Inc (NASDAQ:RPRX), and US Silica Holdings Inc (NYSE:SLCA).