Wall Street gapped up this morning and remained strong all day.  With the move in the biotech sector the biotech ETF, LABU moved out of its down trending channel and is trending up on the lower edge of the up trending channel. It has some work to do but I it looks like the biotech market is heating up.  

CAI: What a nice move over the last two days.  On Friday it gapped out of the descending wedge formation and today followed through trading as high as $21.19, closing at $20.86.  I would look to go long over today's high with $25.00 as the price target.

CYTK: Stock has been up strongly the last 6 days.  But today was a big move trading as high as $15.90 closing at $15.55.  If this momentum continues it has lots of room to move with a price target of $18.00.  But, I would also look to go short on the first G/R day as it is quite extended.  Shorts, 6.4 days to cover.

FUEL: Stocked dropped from the $70.00 range down to $1.75.  But since January hit has been in an up trend recently trading as high as $5.61.  From there, over the last 2 weeks it pulled back to support on both the trend line and moving averages.  Then today it moved sharply higher trading as high as $5.22 closing at the high of day.  I would expect follow through for tomorrow and if it can get through $5.60 then $6.50 is the target.  Shorts, 4.6 days to cover.

MVIS: Last Thursday this stock gapped up from a descending wedge formation.  On Friday it had an inside day and then today moved higher through recent resistance trading as high as $2.89 closing at $2.87.  This stock looks like it wants to go high and a break through $3.00 and we should see $3.50 and $4.50.  Shorts, 5.3 days to cover.

CATM: Stock got whacked to day dropping $2.67 down to support at $41.90 closing at $41.95.  I would look to short this stock below $41.90 with a price target of $37.00.  Shorts, 11 days to cover.

SBH: Stock has been in a solid down trending chart and recently broke out of the channel to the down side.  Today it made a double bottom at $19.18, closing at $19.26.  I would look to short this stock below $19.15 with $15.00 as a price target.  Shorts 7.25 days to cover.