Choppy day in the markets today.  But the SPX and NDX closing mostly unchanged.  The biotech ETF, LABU, continued its upward movement closing at short term resistance. Volume was lighter, probably because of the mixed market in biotechs today.  But it does seem to be forming a new upward trend here.  The gold ETFs broke out today (JNUG, NUGT, GDX and GDXJ) breaking through the declining tops line I talked about yesterday.  But, not only did they break out but they also closed at or near the highs of the day.  They have lots of room to move to the upside so it looks like the market thinks gold is going higher.

CALL: Stock had been building a base for nearly 1 year and recently moved above that channel.  Today it popped up strongly on large volume (usually a very thin trader).  But it doesn't seem to hold its spikes.  So I will be watching for either a convincing break above today's highs for a move to the $10.50 range or looking to short on a move G/R.  But, with shorts, 31 days to cover, there could be some more fireworks here.

CBAY: After the big move on Tuesday, the stock had an inside day today.  It held support at $2.39 but couldn't get through resistance at $2.47.  A move above $2.85 and we should see it test the next resistance at $3.35.  A break through that resistance level and we could see this stock at $5.00  Shorts 4.3 days to cover.

CETX: Stock hit a new high today at $8.40 but pulled back and closed lower at $8.05.  The stock is extended now and it would be health for it to pull back and consolidate in this area.  But, if it stays strong, we should see this stock trading in the $12.00 range.

HALO: Break away gap this morning on HALO breaking out from the descending channel it had formed over the 2 months on huge volume of 17 million shares.  It traded up to resistance and closed at the top of the trading range at the resistance point.  If it has continuation tomorrow, I would look to go long over today's high with a price target of $15.00.  Shorts, 15 days to cover.

MB: Nice winner from my watch list last night.  Stock made a strong move above the $23.50 level and traded as high as $24.35, closing at $24.10.  A trade above today's highs and my price target stays the same at $26.00. Shorts 10.3 days to cover. 

OREX: Another strong day for this stock trading in after hours at $4.00.  It will find resistance in this area but a solid move above $4.00 and next resistance is $4.75.  Shorts 11.6 days to cover.