03/07/12 - The stock market had a good day on Wednesday. There were a lot of gainers, however, it was narrowly mixed. We'll going to take a look at both longs and shorts today as well as a few ultra-shorts and give you an idea as to what is going on. http://www.TheTechTrader.com
The Bon-Ton Stores, Inc. (BONT) was up 33% on Wednesday, up 1.73 to 6.98, or 33%, on 2.6 million shares. That was a substantial price-volume surge. This stock broke out in January, then went into a coiling pattern on low volume, and last week, and again on Wednesday, it popped explosively. That's big volume for that stock, by far the biggest volume in a very long time. The next target at this point is up around the 8.00 range short-term, followed by 10 1/2. http://www.TheTechTrader.com
Clean Energy Fuels Corp. (CLNE) has been on a tear. It moved from 11.35 up to nearly 21, almost doubling, backed off, and it's coming on again. On Wednesday it jumped 1.10 to 20.On Wednesday it jumped 1.10 to 20.36, or 5.7%, on 2.8 million shares. It doesn't look like there's any quite in this stock. 18.30 is support right now, and let it go for a target of about 22 3/4 -- 23 short-term. http://www.TheTechTrader.com
Ultra-short Direxion Daily Emrg Mkts Bear 3X Shares (EDZ) popped right through resistance, and backed off on Wednesday. That volume was about half of what is was on Tuesday. That's good. Let's just see what occurs with that one. http://www.TheTechTrader.com
Ultra Petroleum Corp. (UPL) is in a declining channel, and a declining channel within that channel. Each high is successfully lower, each low slightly lower. If it's able to take out the low at about 22.85, this will come down toward 20 pretty quickly, maybe even the high teens. http://www.TheTechTrader.com
Other stocks in our Charts for the Day are The Agenus Inc. (AGEN), TearLab Corporation (TEAR), InvenSense, Inc. (INVN), Harvest Natural Resources Inc (HNR), Valero Energy Corp. (VLO), Iridium Communications Inc (IRDM), Boingo Wireless, Inc. (WIFI), Seaspan Corporation Seaspan (SSW), DUSA Pharmaceuticals, Inc. (DUSA), Medidata Solutions, Inc. (MDSO), the Direxion Daily Small Cap Bear 3X Shares (TZA), the Direxion Daily Financial Bear 3X Shares (FAZ), VelocityShares Daily 2x VIX (TVIX), First Solar, Inc. (FSLR), CVR Partners (UAN), Deckers Outdoor Corp. (DECK), American Public Education, Inc. (APEI), OPNET Technologies Inc. (OPNT), Pitney Bowes Inc. (PBI). http://www.TheTechTrader.com
Harry's Charts of the Day, published each evening Monday through Thursday, features Harry Boxer's video technical analysis on a stock in play. To learn which stocks Harry is trading or discussing intraday, sign up for a Free 15-Day Trial to his Technical Trading Diary -- which includes both day trades and swing/intermediate-term stock picks. http://www.TheTechTrader.com
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