Indices came off hard today but not surprisingly as they are up 5% since the beginning of the year.  Too far too fast.  Some consolidation in here is healthy and needed.

Longs:

ACBFF:  Pot stocks, in general, did well today after the sharp pull back yesterday.  This stock looks to be in a 4th wave of a 5 wave pattern and needs some consolidation before heading higher.  If it should break through the declining tops line and the lateral resistance at $12.00 then $16.00 and $18.00 are price targets. CANN and TWMJF have the same chat patterns.  

COLL:  Considering how hard biotechs were hammered today, this stock held up very well.  It did make a nominal new high trading up to $21.50 and closing at $21.13.  It needs more volume to push it through.  Price target $23.50 and $25.00.  Short ratio, 22.4 days to cover.

CORT:  Broke through lateral resistance trading up to $21.75 before closing at $21.31.  I would look for an entry opportunity for a move to $24.00 and then $25.00.  Short ratio, 5.4 days to cover.

FANH: Strong up trending channel and stock is at the lower edge of the channel.  But it recently broke out of a wedge formation and has worked its way back up to the recent high.  Today it traded as high as $26.45 closing at $26.26 It needs to get through lateral resistance here with $29.00 as the next price target.

MYSZ: After a two day spike to $4.00 last week the stock pulled back sharply for 2 days.  Now the last two days it has moved higher again.  Today it traded as high as $2.96 and closing at $2.66. It needs to get over $3.57 with $4.25 as the price target.

SRNE: Stock has been rising sharply since December and today traded up to lateral resistance at $5.85 closing at $5.75.  I would look to go long over $6.00 with $7.00 and $8.00 as price targets.  Short ratio, 5.4 days to cover.

VIPS:  Stock gapped up sharply from $8.50 to $12.50 last month and then consolidated for a few weeks.  It has now started the rise again.  Today it traded as high as $16.47 closing at $16.04.  It is getting extended and should probably consolidate in here especially since it is up to lateral resistance.  But, a break through $16.50 and we should see $18.00 and $20.00.  

Shorts:

AAOI: Stock is at the top of the down trending channel and has broken through lateral support.  It traded as low as $33.63 today closing at $34.17.  I would look to go short this stock below $34.00 with adds below $33.60.  Price target $26.00 Short ratio, 6 days to cover.  

AGX: After a sharp drop in December the stock has been forming a bear wedge.  It traded as low as $44.75 today closing on support at $45.00.  I would look to short below $44.75 with adds below $42.20.  Price target, $35.00.

MDCO: Stock broke down today trading as low as $25.25 and closing at $25.67.  It is in a strong down trend and I would look to short below $25.25 with $23.00 and $21.00 as price targets.

PCMI: A stock I have been writing about to short since $10.00 or so.  Such a terrible long term chart it is stair stepping its way down.  Today it traded as low as $8.65 closing at $8.75.  This stock looks like it is going to zero.

UAA: Stock rolled over from its bear flag today trading as low as $13.60 and closing at $13.81.  I would look to go short under $13.60 with $11.50 as the price target.