It was a tough day on Wall Street on Monday, but there was a nice rally at the end of the day that brought a lot of stocks back. What’s interesting is how the gold is acting. Of course, with the market pulling back gold is up and vice-versa. Several of the stocks that we expected to move did move right up to the resistance zone and backed off. Let’s take a look at what others stocks are doing.
Cree, Inc. (O:CREE) didn’t do much on Monday, but for a down day this stock was up a nickel to 28.93, on 2.5 million shares. It held its own on a nice day above support with a breakout from the base. It needs more volume. That’s one of the things it was missing on the breakout. Watch it carefully. I could see it consolidating. Target is 32.00.
Sientra, Inc. (O:SIEN), after news on Monday that they will resume selling their breast implant devices in the US, shot up to 10.45, and pulled back to 9.96, up 1.36 or 16%, on 2.44 million shares. It was a good day for this stock. OBV hit new highs. It looks to me like it still wants to go higher. Targets are 12 1/2 and 13 3/4.
Intrexon Corporation (N:XON) had a nice inside day on a low volume of 1.9 million shares on Monday, the lowest volume in about 7 sessions. It was actually down 95 cents to 35.02, or 2.64%. It looks like it wants to go higher. Target is in the 41-44 zone.
Other stocks on the long side included Barrick Gold Corporation (N:ABX), Direxion Daily Jr Gld Mnrs Bull 3X ETF (N:JNUG), Direxion Daily Gold Miners Bull 3X ETF (N:NUGT), Cree, Inc. (CREE), Direxion Daily S&P Biotech Bear 3X ETF (N:LABD), Direxion Daily S&P Biotech Bull 3X ETF (N:LABU) ProShares UltraShort Bloomberg Crude Oil (N:SCO), Sientra, Inc. (SIEN), Supernus Pharmaceuticals, Inc. (O:SUPN), and Intrexon Corporation (XON).
Stocks on the short side included AmSurg Corp. (O:AMSG), Criteo SA (O:CRTO), Comfort Systems USA Inc. (N:FIX), Global Payments Inc. (N:GPN), Luxoft Holding, Inc. (N:LXFT), Middleby Corp. (O:MIDD), Qlik Technologies, Inc. (O:QLIK), Qualys, Inc. (O:QLYS), and LendingTree, Inc. (O:TREE).