RNOW, LQDT, IPCM, WAT Among Charts to Watch

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The stock market had a very bad day on Monday. Things were looking real bad on Wall Street. So, we’re going to go over both longs and shorts. This will give us a chance to take a look at some stocks on both sides of the action. The short list is even longer than the long list.

Longs

Rightnow Technologies Inc. (RNOW) continues to be a beautiful swing trade. It was up 71 cents to 38.92, on 953,000 shares traded. The long-term channel has been in a steady rise, and it wouldn’t be surprising to see Rightnow in the high 40s, but it has a target up around the 43 – 44 range, so let’s see if it gets up there.

Liquidity Services, Inc. (LQDT) popped across the declining topsline, closing up 99 cents to 32.51, or 3.14%. At one time it went to 33, 34, and 37, which is a high zone for this stock. If it does get through today’s highs, it could see something up around 37 short-term.

Shorts

IPC The Hospitalist Company, Inc. (IPCM) had broken down hard, backed and filled, ran up to the declining topsline, and looks like it could rollover. It was down 1.16 to 39.54. The way this stock is acting in this zone, it could break down below 35, which is the short-term target. The secondary target is set at around 29. Ultimately, if the market has a much deeper bear-market move, we could see something in the mid 20s.

Waters Corp. (WAT) has a massive consolidation taking place after a waterfall took it down to the support line that held it on several occasions. It did rollover 2.03 to 75.22, and if it cracks down here, and takes out the 73 range, it could fall away to the mid 60s. Keep a close eye on that one.

Other stocks in our Charts for the Day are the longs; EasyLink Services International Corporation (ESIC), Ocean Power Technologies, Inc (OPTT), Rightnow Technologies Inc. (RNOW), Oxigene Inc. (OXGN), Mitek Systems Inc. (MITK), Opko Health, Inc. (OPK), Acura Pharmaceuticals Inc. (ACUR), USEC Inc. (USU), Shanda Games Limited (GAME), Inhibitex Inc. (INHX),Liquidity Services, Inc. (LQDT).

Shorts include IPC The Hospitalist Company, Inc. (IPCM), Mercadolibre, Inc. (MELI), Flowserve Corp. (FLS), OpenTable, Inc. (OPEN), China Yuchai International Limited (CYD), Trex Co. Inc. (TREX), Waters Corp. (WAT), Sotheby’s (BID), Fossil, Inc. (FOSL), Helmerich & Payne Inc. (HP), Rockwell Automation Inc. (ROK), Coherent Inc. (COHR), AGCO Corp. (AGCO), Gen-Probe Inc. (GPRO), Cree Inc. (CREE), Dolby Laboratories, Inc. (DLB), The Ensign Group, Inc. (ENSG), The Scotts Miracle-Gro Co. (SMG), Bio-Rad Laboratories, Inc. (BIO), National Presto Industries Inc. (NPK).