Harry Boxer
The Technical Trader
Although we'll be looking at some shorts, the longs are still strong, so let's take a look at some of those as well.
Fuel Systems Solutions, Inc. (FSYS), which we traded, had a big day on Thursday. It popped up, pulled back, ran up, coiled, then ran up even higher, eventually reaching our 18 dollar target, before fading back to 17.92. Net-net on the day, it was up 1.39 to 17.89, or 8.4%. Lateral price-resistance is across the multiple tops of July thru October comes in around the 19-19 1/4 range. That's the near-term target. Beyond that, the declining topsline at 21 made be had. So keep an eye on this one.
SUPERVALU Inc. (SVU) had a spectacular day on Thursday, up 49 cents to 4.68, or 12%, on 20 million shares. This stock traded as high as 4.86 earlier in the day. It may be on its way to 5-5 1/2 swing trade target.
Stocks on the Short Side...
Atlas Air Worldwide Holdings Inc. (AAWW) has been on our short list since it broke down and rallied back. It got a little higher than expected, but the declining topsline was too much for it as it rolled over from the 48 1/2 range all the way down to 41 1/2, breaking in the process the bottom of the rising channel, snapping back to the moving average, failing, and rolling over again. It appears that it's going to make its way down to 39 1/2 short-term. The overall pattern is so dicey, if it breaks that level, it could get as low as 34 1/2-3/4.
Life Time Fitness Inc. (LTM) had a major-channel break, broke the rising-bottom line, and then rallied back to it, only to form a rising bear wedge. Both Wednesday and Thursday, it was down, and if it breaks below the bottom line, it could run down to test 39-40 short-term, may be even something in the mid 30's if we get an ugly market.
Other stocks on Harry's Charts of the Day are ACADIA Pharmaceuticals Inc. (ACAD), HomeAway, Inc. (AWAY), BlackBerry (BBRY), Diana Shipping Inc. (DSX), GenMark Diagnostics, Inc. (GNMK), GenCorp Inc. (GY), Cheniere Energy, Inc. (LNG), Mitek Systems Inc. (MITK), Progenics Pharmaceuticals, Inc. (PGNX), and Yahoo! Inc. (YHOO).
Dillard's Inc. (DDS), Medifast Inc. (MED), Rentech Nitrogen Partners, L.P. (RNF), Stratasys Inc. (SSYS), and Vitamin Shoppe, Inc. (VSI).
Good Trading!
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