Biotechs (LABU) continue to surge as I have been writing about the last week.  It appears to be the recipient of the sector rotation.  The ETF broke through the large base (lateral resistance) I was writing about at $55.00 and is now $66.98, up $12.00 in 3 days.  $70.00 appears to be the target on the short term.

AKBA: Last April the stock gapped up strongly and formed a bull wedge.  Then in May it gapped up again to $15.80 and retraced back to $13.00.  In early June it found support and has recently started up trending again.  Yesterday it traded to a nominal new high at $15.98 closing at $15.84.  I would look to go long this stock over $15.90 with $18.00 as the price target.

CARA:  Big day for this stock yesterday.  It is in a strong up trend and yesterday broke through lateral resistance at $19.00 trading as high as $19.56 and closing near the top of its range at $19.50.  I would look for it to test $21.00 today and then $24.00.  Short ratio, 5.3 days to cover.

DVAX: Stock filled the gap from last November breaking through lateral resistance at $9.00 before closing at $9.35 (High of $9.40).  I would look to go long this stock over yesterday's high with $11.00 as my target.  Short ratio, 10.3 days to cover.

IMGN: A stock I have been writing about recently when it broke out of the descending channel pattern on Monday.  Yesterday it broke through lateral resistance at $5.50 and traded as high as $6.10, closing at $6.02.  It looks like it will test the top of the channel line today at $6.50 with a price target of $7.00 and $10.00.  Short ratio, 5.2 days to cover.

IMMU: Stock broke through lateral resistance at $8.60 yesterday trading as high as $8.73 closing at $8.61.  This stock is in a strong up trending channel and if it can get through yesterdays's high I have price targets of $10.00 and $12.00.  Short ratio, 8.8 days to cover.

NVCR: Stock is in an accelerating up trending channel and broke through lateral resistance yesterday trading as high as $17.60 before closing at $17.50.  I would look to go long over yesterday's high with $18.50 and $21.00 as price targets.  Short ratio, 14.2 days to cover, so should add a lot of momentum to the trade.

WKHS: Stock broke through lateral resistance yesterday trading as high as $4.75 before closing at $4.64.  I would look to go long this stock over $4.75 with $6.00 as my price target.