Strong day in the markets today.  All three of the major indices made new all time highs today.  As I have been writing for the past 2 years, the secular bull market has a long ways to run yet.  Everyday, I hear traders trying to short anything that is up.  Why go against the trend?  The trend is your friend.  There is lots more money to be made going long in a bull market than trying to short it.  If a stock does correct it won't be as much as when the the major trend is down.  There are always individual stocks that are weak and can be shorted but for example lots of traders were shorting the front side of the move on $AEZS.  The stock was up $1.75 on the long side and only corrected $.50 on the downside.   There was far less risk on good set ups on the long side than trying to short the front side of this move.  But each trader has their style and reasons for trading and mine is to long in bull markets and short in bear markets.

ABEO:  Stock had been up or about 10 days in a row making a high around $9.80.  It then consolidated for 1 week forming a wedge.  Today it broke out of that wedge to the upside trading as high as $10.25 and closing at $9.85.  I would look to go long over today's high with a price target of $11.00 and $14.00 longer term.  Short ratio 11.4 days to cover so could add to the momentum of the move to the upside.

ADTN: Stock gapped up out of the base it had been forming for the last several months.  It traded as high as $23.10 before closing at $22.95.  I would look to go long over today's high with $24.00 and $27.00 as price targets.

AVEO: At the end of June the stock gapped up from the $.70 level and ran as high as $3.25.  Since then it has made an orderly retracement in a descending channel.  Today it popped out of that channel to the upside and traded as high as $2.69, closing at $2.63.  If this stock can get through the recent high of $3.25 then $4.50 is my price target.  

CBAY:  On the announcement of a secondary offering at $6.50 the stock sold off hard on Monday.  Yesterday it recovered and today was up another $.43.  It traded as high as $7.45 closing at $7.37.  This is a very strong chart when there is this kind of action on the announcement of a secondary.  I am sure the shorts are piling in but I think they will find they are on the wrong side of the trade.  On a move through $7.80 this stock has a target of $9.00.  

CONN:  A stock I have been writing about since it broke above $15.00 and as recently as 2 days ago.  Since then it has been stair stepping its way higher in an up trending channel.  Today it broke through both lateral resistance at $21.50 trading as high as $22.85 before closing at $22.55.  I would look to go long over today's high with a price target of $29.00. Short ratio, 9.9 days to cover.

EROS: Nice winner from my watch list on Monday.  Stock broke through lateral resistance at $12.00 and lateral resistance today at $13.00.  It traded as high as $14.40 before closing at $13.90.  My price targets are still $15.00 and $17.00.  Short ratio, 28 days to cover so I would expect it to hit $15.00 quickly as shorts get squeezed.

HIIQ: Thin trader but stock has a powerful chart.  Today it broke through lateral resistance at $27.20 trading as high as $28.05 before settling back at $27.95.  This is all new high territory but the measured move puts my next target at $30.00 and then $33.00.  Short ratio, 4 days to cover.

KEM: Stock just keeps powering up from when I first started writing about it around $11.00.  Today it broke through lateral resistance at $17.30 and traded as high as $17.89 closing at $17.43.  It is at the top of the channel and at lateral resistance so we'll see if it can push higher or consolidate first in here.  $20.00 is my next target.

ZN: Another stock I am sure the shorts are loading up on.  But after the high of $7.00 or so and the steep retracement, the stock has been holding the lower channel line.  It is somewhat extended but if this can get through $4.95 with momentum, I think it will squeeze the shorts and we could see it back at $7.00.