AVL, HWD, MCP, REE Among Charts to Watch

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There are still quite a few stocks to talk about on the upside. The rare-earth group did very well Thursday, so we’ll going to highlight some of those in that group, but there are many others here to be watching over the coming days.

Avalon Rare Metals Inc. (AVL), which a couple of days ago broke out and pulled back very gently on low volume, popped again on Thursday on 13.6 million shares, up 83 cents, or 9 1/2%. It got up to 9.73, my target was 9.75, but I think this stock is destined to get up toward 11 short-term.

Harry Winston Diamond Corporation (HWD) had a little resting day today, but it was still up 16 cents. It still continues to move nicely. After we hit our swing trade we got a day, or so, of pullback, but then it moved from 14 to about 18, reaching my short-term swing trade target. My secondary target is up around 21.

Molycorp, Inc. (MCP) had a big day Thursday, opening at 63 1/2 and running up to 68.79, closing just pennies off its high, up 6.39, or 10%, on 14.2 million shares. At this point, having redrawn the channel, it looks like something in the mid to high 80s, which is my trading target. That’s about 20 more points on Molycorp.

Rare Element Resources Ltd. (REE) did very well on Thursday, jumping from 13.37 to 15.46, closing at 15.30, up 2.16, or 16.4%, on 17 million shares. That’s the biggest volume since the very beginning of January. A retest of the highs in the 17-17 1/2 range may take place, and that’s our short-term target.

Other stocks in our Charts of the Day video are Double Eagle Petroleum Co. (DBLE), Elan Corp. plc (ELN), Express Inc. (EXPR), Georgia Gulf Corp. (GGC), Immunogen Inc. (IMGN), Keynote Systems Inc. (KEYN), Ocz Technology Group Inc. (OCZ), Superconductor Technologies Inc. (SCON), TPC Group Inc (TPCG), VirnetX Holding Corp (VHC).